Dynegy Major Shareholder Franklin Resources Inc Sells 20,000 Shares (DYN)
Dynegy (NYSE:DYN) major shareholder Franklin Resources Inc unloaded 20,000 shares of Dynegy stock on the open market in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $19.53, for a total value of $390,600.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
DYN has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Dynegy (NYSE:DYN) from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, September 2nd. They now have a $19.90 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Dynegy (NYSE:DYN) in a research note to investors on Friday, August 2nd.
Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $20.97.
Shares of Dynegy (NYSE:DYN) traded up 0.15% during mid-day trading on Wednesday, hitting $19.52. 392,991 shares of the company’s stock traded hands. Dynegy has a 52 week low of $17.00 and a 52 week high of $25.18. The stock has a 50-day moving average of $19.52 and a 200-day moving average of $22.06. The company has a market cap of $1.953 billion and a price-to-earnings ratio of 2.28.
Dynegy (NYSE:DYN) last announced its earnings results on Thursday, August 1st. The company reported ($1.50) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.30) by $1.20. The company had revenue of $301.00 million for the quarter, compared to the consensus estimate of $362.21 million. On average, analysts predict that Dynegy will post $-2.74 earnings per share for the current fiscal year.
Dynegy Inc (NYSE:DYN) is a holding company and conducts the business operations through its subsidiaries.
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