Dynegy major shareholder Unloads $13,441,500 in Stock (DYN)
Dynegy (NYSE:DYN) major shareholder Franklin Resources Inc sold 435,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $30.90, for a total transaction of $13,441,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Several analysts have recently commented on the stock. Analysts at ISI Group upgraded shares of Dynegy from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 2nd. They now have a $40.00 price target on the stock, up previously from $30.00. Separately, analysts at UBS AG upgraded shares of Dynegy from a “neutral” rating to a “buy” rating in a research note on Monday, April 21st. They now have a $31.00 price target on the stock, up previously from $25.00. Finally, analysts at Macquarie raised their price target on shares of Dynegy from $20.00 to $20.50 in a research note on Monday, April 14th. They now have an “underperform” rating on the stock. Three analysts have rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $25.40.
Shares of Dynegy (NYSE:DYN) traded up 1.97% during mid-day trading on Thursday, hitting $31.61. 2,114,607 shares of the company’s stock traded hands. Dynegy has a 52 week low of $18.11 and a 52 week high of $31.24. The stock’s 50-day moving average is $26.24 and its 200-day moving average is $22.46. The company’s market cap is $3.167 billion.
Dynegy (NYSE:DYN) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.41) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.15) by $0.26. The company had revenue of $762.00 million for the quarter, compared to the consensus estimate of $569.71 million. Dynegy’s revenue was up 139.6% compared to the same quarter last year. On average, analysts predict that Dynegy will post $0.04 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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