Dynegy Inc. (DYN) Downgraded by Zacks Investment Research to Sell
Dynegy Inc. (NYSE:DYN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Dynegy Inc. provides wholesale power, capacity and ancillary services to utilities, cooperatives, municipalities and other energy companies in six states in U.S. regions of the Midwest, the Northeast and the West Coast. It operates in three segments: the Coal segment, the Gas Segment and the Dynegy Northeast Segment. Dynegy Inc. is headquartered in Houston, Texas. “
Other equities research analysts have also issued reports about the stock. Deutsche Bank AG restated a “buy” rating and set a $35.00 price objective on shares of Dynegy in a report on Thursday, August 25th. SunTrust Banks Inc. dropped their price objective on shares of Dynegy from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, August 24th. Citigroup Inc. upgraded shares of Dynegy from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $21.00 to $19.00 in a report on Wednesday, June 29th. Royal Bank Of Canada reiterated a “buy” rating on shares of Dynegy in a research note on Friday, June 17th. Finally, Wolfe Research lowered shares of Dynegy from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. Dynegy presently has a consensus rating of “Hold” and a consensus target price of $24.00.
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Dynegy (NYSE:DYN) traded down 3.31% during midday trading on Wednesday, hitting $12.28. 2,950,699 shares of the company traded hands. The stock’s 50-day moving average price is $12.84 and its 200 day moving average price is $15.58. Dynegy has a 12-month low of $7.20 and a 12-month high of $23.83. The company’s market capitalization is $1.44 billion.
Dynegy (NYSE:DYN) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($6.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by $6.23. Dynegy had a negative return on equity of 11.83% and a negative net margin of 22.67%. On average, equities analysts forecast that Dynegy will post ($1.87) EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in Dynegy by 93.4% in the third quarter. BNP Paribas Arbitrage SA now owns 10,647 shares of the company’s stock valued at $129,000 after buying an additional 5,143 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Dynegy by 14.9% in the second quarter. Public Employees Retirement System of Ohio now owns 7,615 shares of the company’s stock valued at $131,000 after buying an additional 987 shares in the last quarter. Sterling Capital Management LLC purchased a new position in Dynegy during the second quarter valued at $581,000. Legal & General Group Plc raised its position in Dynegy by 78.6% in the second quarter. Legal & General Group Plc now owns 116,430 shares of the company’s stock valued at $1,999,000 after buying an additional 51,241 shares in the last quarter. Finally, Numeric Investors LLC purchased a new position in Dynegy during the second quarter valued at $4,315,000.
Dynegy Inc (Dynegy) is a holding company and conducts the business operations through its subsidiaries. The primary business of Dynegy is the production and sale of electric energy, capacity and ancillary services from the fleet of 18 operating power plants in six states totaling approximately 12,300 megawatt (MW) of generating capacity.
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