Dynegy major shareholder Unloads $26,338,950 in Stock (DYN)
Dynegy (NYSE:DYN) major shareholder Franklin Resources Inc sold 765,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $34.43, for a total value of $26,338,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.
DYN has been the subject of a number of recent research reports. 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 assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $30.04.
Dynegy (NYSE:DYN) traded down 0.16% during mid-day trading on Friday, hitting $34.385. 301,573 shares of the company’s stock traded hands. Dynegy has a 52 week low of $18.11 and a 52 week high of $36.57. The stock’s 50-day moving average is $33.66 and its 200-day moving average is $25.8. The company’s market cap is $3.450 billion.
Dynegy (NYSE:DYN) last released its 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 $0.12 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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