Dynegy Inc. (DYN) Stock Rating Lowered by Zacks Investment Research
Dynegy Inc. (NYSE:DYN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
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 equities analysts have also issued reports on the company. SunTrust Banks Inc. raised Dynegy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $18.00 to $20.00 in a report on Wednesday, June 29th. They noted that the move was a valuation call. Deutsche Bank AG dropped their price objective on Dynegy from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Citigroup Inc. raised Dynegy from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $21.00 to $19.00 in a report on Wednesday, June 29th. Wolfe Research lowered Dynegy from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 13th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Dynegy in a report on Friday, June 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $24.00.
Dynegy (NYSE:DYN) traded down 3.31% during mid-day trading on Wednesday, reaching $12.28. The company’s stock had a trading volume of 2,950,699 shares. Dynegy has a one year low of $7.20 and a one year high of $23.83. The stock’s 50 day moving average is $12.84 and its 200 day moving average is $15.58. The firm’s market cap is $1.44 billion.
Dynegy (NYSE:DYN) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($6.73) earnings per share (EPS) for the quarter, missing the 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%. On average, analysts anticipate that Dynegy will post ($1.87) EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in DYN. BNP Paribas Arbitrage SA raised its position in Dynegy by 93.4% in the third quarter. BNP Paribas Arbitrage SA now owns 10,647 shares of the company’s stock worth $129,000 after buying an additional 5,143 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Dynegy by 14.9% in the second quarter. Public Employees Retirement System of Ohio now owns 7,615 shares of the company’s stock worth $131,000 after buying an additional 987 shares in the last quarter. Sterling Capital Management LLC bought a new position in Dynegy during the second quarter worth about $581,000. Legal & General Group Plc raised its position in Dynegy by 78.6% in the second quarter. Legal & General Group Plc now owns 116,430 shares of the company’s stock worth $1,999,000 after buying an additional 51,241 shares in the last quarter. Finally, Numeric Investors LLC bought a new position in Dynegy during the second quarter worth about $4,315,000.
Dynegy Company Profile
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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