BNP Paribas Arbitrage SA Increases Position in Dynegy Inc. (DYN)
BNP Paribas Arbitrage SA increased its stake in Dynegy Inc. (NYSE:DYN) by 384.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,160 shares of the utilities provider’s stock after acquiring an additional 17,587 shares during the period. BNP Paribas Arbitrage SA’s holdings in Dynegy were worth $181,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Dynegy by 2.9% in the first quarter. Vanguard Group Inc. now owns 9,161,891 shares of the utilities provider’s stock worth $72,013,000 after acquiring an additional 262,194 shares in the last quarter. State Street Corp grew its position in Dynegy by 2.3% in the first quarter. State Street Corp now owns 2,260,225 shares of the utilities provider’s stock worth $17,767,000 after acquiring an additional 50,113 shares in the last quarter. Neuberger Berman Group LLC grew its position in Dynegy by 2.8% in the first quarter. Neuberger Berman Group LLC now owns 1,249,970 shares of the utilities provider’s stock worth $9,825,000 after acquiring an additional 33,672 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its position in Dynegy by 6.1% in the second quarter. ANTIPODES PARTNERS Ltd now owns 1,077,811 shares of the utilities provider’s stock worth $8,913,000 after acquiring an additional 62,166 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new position in Dynegy in the first quarter worth $7,781,000.
Several brokerages recently issued reports on DYN. Royal Bank Of Canada reiterated a “hold” rating and issued a $8.00 target price on shares of Dynegy in a research report on Monday, September 4th. Guggenheim reiterated a “buy” rating and issued a $18.00 target price (up from $14.00) on shares of Dynegy in a research report on Monday, August 21st. BidaskClub upgraded shares of Dynegy from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Deutsche Bank AG cut their target price on shares of Dynegy from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Monday, August 7th. Finally, Barclays PLC reiterated a “buy” rating and issued a $13.00 target price on shares of Dynegy in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $10.68.
Shares of Dynegy Inc. (NYSE:DYN) opened at 9.55 on Tuesday. The stock’s 50 day moving average is $9.07 and its 200-day moving average is $8.06. The stock’s market capitalization is $1.25 billion. Dynegy Inc. has a 12-month low of $5.84 and a 12-month high of $13.81.
Dynegy (NYSE:DYN) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.61). Dynegy had a negative return on equity of 12.97% and a negative net margin of 2.72%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $972.27 million. On average, analysts expect that Dynegy Inc. will post ($0.69) earnings per share for the current year.
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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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