Dynegy Inc. (DYN) Sees Large Volume Increase
Shares of Dynegy Inc. (NYSE:DYN) saw strong trading volume on Wednesday . 3,519,581 shares traded hands during trading, an increase of 6% from the previous session’s volume of 3,307,566 shares.The stock last traded at $16.59 and had previously closed at $16.80.
A number of equities research analysts have issued reports on the stock. SunTrust Banks Inc. upgraded shares of Dynegy from a “neutral” rating to a “buy” rating and upped their price target for the company from $18.00 to $20.00 in a report on Wednesday, June 29th. They noted that the move was a valuation call. Citigroup Inc. raised shares of Dynegy from a “neutral” rating to a “buy” rating and cut their price objective for the company from $21.00 to $19.00 in a research report on Wednesday, June 29th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Dynegy in a research report on Friday, June 17th. Deutsche Bank AG reissued a “buy” rating and issued a $21.00 price target on shares of Dynegy in a research report on Friday, June 17th. Finally, Barclays PLC increased their price target on shares of Dynegy from $20.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, May 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $28.38.
The company’s 50 day moving average is $17.56 and its 200-day moving average is $14.73. The company has a market cap of $1.98 billion and a price-to-earnings ratio of 10.62.
Dynegy (NYSE:DYN) last announced its earnings results on Tuesday, May 3rd. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.33. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1,000 million. Equities analysts anticipate that Dynegy Inc. will post ($1.19) EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of Dynegy by 21.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,345,119 shares of the company’s stock valued at $18,020,000 after buying an additional 235,502 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Dynegy by 9.4% in the fourth quarter. Victory Capital Management Inc. now owns 778,019 shares of the company’s stock valued at $10,425,000 after buying an additional 66,780 shares during the last quarter. Quantitative Investment Management LLC purchased a new position in shares of Dynegy during the fourth quarter valued at approximately $2,260,000. Finally, Rhumbline Advisers boosted its position in shares of Dynegy by 2.0% in the fourth quarter. Rhumbline Advisers now owns 172,357 shares of the company’s stock valued at $2,310,000 after buying an additional 3,415 shares during 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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