Dynegy major shareholder Unloads $9,845,000 in Stock (DYN)
Dynegy (NYSE:DYN) major shareholder Franklin Resources Inc sold 275,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $35.80, for a total transaction of $9,845,000.00. The transaction was disclosed in a filing 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 (NYSE:DYN) traded up 0.59% on Friday, hitting $36.0601. The stock had a trading volume of 1,377,848 shares. Dynegy has a 52 week low of $18.11 and a 52 week high of $36.06. The stock has a 50-day moving average of $31.87 and a 200-day moving average of $24.84. The company’s market cap is $3.618 billion. Dynegy also was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 3,619,142 shares, a drop of 48.0% from the April 30th total of 6,955,050 shares. Currently, 3.9% of the company’s stock are sold short. Based on an average daily 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) EPS for the quarter, missing the Thomson Reuters 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. The company’s quarterly revenue was up 139.6% on a year-over-year basis. On average, analysts predict that Dynegy will post $0.14 earnings per share 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 research analysts have rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Dynegy has an average rating of “Hold” and an average 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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