Dynegy Inc. (DYN) Stock Rating Reaffirmed by Royal Bank Of Canada
Dynegy Inc. (NYSE:DYN)‘s stock had its “hold” rating reiterated by research analysts at Royal Bank Of Canada in a research note issued on Thursday. They presently have a $12.10 price objective on the utilities provider’s stock. Royal Bank Of Canada’s price target would indicate a potential downside of 2.81% from the stock’s previous close.
A number of other equities research analysts have also issued reports on DYN. Morgan Stanley set a $15.00 target price on shares of Dynegy and gave the company a “buy” rating in a research note on Thursday, October 26th. Bank of America Corporation assumed coverage on shares of Dynegy in a research note on Tuesday, October 24th. They set a “buy” rating and a $11.00 target price for the company. Deutsche Bank AG raised shares of Dynegy from a “sell” rating to a “hold” rating and set a $13.00 target price for the company in a research note on Tuesday. Citigroup Inc. set a $12.00 target price on shares of Dynegy and gave the company a “buy” rating in a research note on Monday. Finally, BidaskClub raised shares of Dynegy from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.34.
Dynegy (NYSE:DYN) last issued its earnings results on Thursday, August 3rd. The utilities provider reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.61). The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $972.27 million. Dynegy had a negative net margin of 2.72% and a negative return on equity of 12.97%.
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Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Dynegy by 7.7% in the second quarter. Vanguard Group Inc. now owns 9,864,122 shares of the utilities provider’s stock valued at $81,577,000 after buying an additional 702,231 shares during the period. Carlson Capital L P lifted its holdings in Dynegy by 122.4% in the fourth quarter. Carlson Capital L P now owns 9,396,360 shares of the utilities provider’s stock valued at $125,911,000 after buying an additional 5,171,432 shares during the period. Lasry Marc lifted its holdings in Dynegy by 85.1% in the first quarter. Lasry Marc now owns 6,078,318 shares of the utilities provider’s stock valued at $87,346,000 after buying an additional 2,794,068 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Dynegy by 58.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,907,332 shares of the utilities provider’s stock valued at $48,854,000 after buying an additional 2,185,292 shares during the period. Finally, Energy Capital Partners III LLC acquired a new position in Dynegy in the fourth quarter valued at approximately $49,322,000.
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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