Dynegy major shareholder Unloads $9,773,000 in Stock (DYN)
Dynegy (NYSE:DYN) major shareholder Franklin Resources Inc unloaded 290,000 shares of Dynegy stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $33.70, for a total value of $9,773,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Dynegy (NYSE:DYN) traded up 0.65% during mid-day trading on Tuesday, hitting $33.95. 369,727 shares of the company’s stock traded hands. Dynegy has a one year low of $18.11 and a one year high of $33.97. The stock’s 50-day moving average is $29.88 and its 200-day moving average is $24.0. The company’s market cap is $3.407 billion. Dynegy also was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 3,619,142 shares, a decline of 48.0% from the April 30th total of 6,955,050 shares. Based on an average daily trading volume, of 1,896,568 shares, the days-to-cover ratio is currently 1.9 days. Currently, 3.9% of the company’s stock are sold short.
Dynegy (NYSE:DYN) last released its 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. Analysts expect that Dynegy will post $0.14 EPS for the current fiscal year.
A number of research firms have recently commented on DYN. Analysts at Macquarie upgraded shares of Dynegy from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 13th. They now have a $35.00 price target on the stock, up previously from $20.50. Separately, analysts at Zacks upgraded shares of Dynegy from a “neutral” rating to an “outperform” rating in a research note on Monday, May 12th. They now have a $34.20 price target on the stock. Finally, 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. Two analysts have rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $30.04.
Dynegy Inc (NYSE:DYN) is a holding company and conducts the business operations through its subsidiaries.
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