Dynegy Hits New 52-Week High at $35.25 (DYN)
Dynegy (NYSE:DYN) shares reached a new 52-week high during trading on Friday , Stock Ratings Network reports. The company traded as high as $35.25 and last traded at $35.04, with a volume of 406,170 shares trading hands. The stock had previously closed at $34.88.
Several analysts have recently commented on the stock. 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 equities research analysts have rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $30.04.
The stock has a 50-day moving average of $30.69 and a 200-day moving average of $24.31. The company’s market cap is $3.508 billion. Dynegy also was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 3,619,142 shares, a decrease of 48.0% from the April 30th total of 6,955,050 shares. Approximately 3.9% of the shares of the stock are short sold. Based on an average trading volume of 1,896,568 shares, the days-to-cover ratio is currently 1.9 days.
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 $0.14 earnings per share for the current fiscal year.
In other Dynegy news, major shareholder Franklin Resources Inc sold 175,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $34.06, for a total value of $5,960,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Dynegy Inc (NYSE:DYN) is a holding company and conducts the business operations through its subsidiaries.
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