Zacks Investment Research Downgrades Dynegy Inc. (DYN) to Sell
According to Zacks, “Dynegy Inc. provides wholesale power, capacity and ancillary services to utilities, cooperatives, municipalities and other energy companies in six states in U.S. regions of the Midwest, the Northeast and the West Coast. It operates in three segments: the Coal segment, the Gas Segment and the Dynegy Northeast Segment. Dynegy Inc. is headquartered in Houston, Texas. “
Several other research analysts have also recently weighed in on DYN. Citigroup Inc. cut Dynegy from a buy rating to a neutral rating and boosted their price target for the stock from $20.00 to $21.00 in a research note on Friday, June 10th. Deutsche Bank AG restated a buy rating and issued a $21.00 price target on shares of Dynegy in a research note on Friday, June 17th. Royal Bank Of Canada restated a buy rating on shares of Dynegy in a research note on Friday, June 17th. SunTrust Banks Inc. upgraded Dynegy from a neutral rating to a buy rating and boosted their price target for the stock from $18.00 to $20.00 in a research note on Wednesday, June 29th. They noted that the move was a valuation call. Finally, Wolfe Research cut Dynegy from an outperform rating to a market perform rating in a research note on Tuesday, September 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $27.80.
Shares of Dynegy (NYSE:DYN) opened at 13.27 on Monday. Dynegy has a one year low of $7.20 and a one year high of $24.25. The company’s 50-day moving average price is $12.85 and its 200-day moving average price is $15.55. The stock’s market cap is $1.56 billion.
Dynegy (NYSE:DYN) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($6.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by $6.23. Dynegy had a negative return on equity of 11.83% and a negative net margin of 22.67%. Equities research analysts anticipate that Dynegy will post ($1.79) earnings per share for the current year.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Dynegy by 3.7% in the second quarter. Vanguard Group Inc. now owns 8,520,670 shares of the company’s stock worth $146,896,000 after buying an additional 306,710 shares in the last quarter. Lasry Marc increased its stake in Dynegy by 85.1% in the first quarter. Lasry Marc now owns 6,078,318 shares of the company’s stock worth $87,346,000 after buying an additional 2,794,068 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Dynegy by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,311,513 shares of the company’s stock worth $47,586,000 after buying an additional 40,914 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Dynegy by 89.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,107,087 shares of the company’s stock worth $53,565,000 after buying an additional 1,462,853 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in Dynegy by 153.0% in the second quarter. TIAA CREF Investment Management LLC now owns 2,867,228 shares of the company’s stock worth $49,431,000 after buying an additional 1,734,159 shares in the last quarter.
Dynegy Inc (Dynegy) is a holding company and conducts the business operations through its subsidiaries. The primary business of Dynegy is the production and sale of electric energy, capacity and ancillary services from the fleet of 18 operating power plants in six states totaling approximately 12,300 megawatt (MW) of generating capacity.
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