An issue of Dynegy Inc. (NYSE:DYN) debt rose 0.6% against its face value during trading on Monday after Deutsche Bank AG lowered their price target on the stock from $11.00 to $10.00. The debt issue has a 7.375% coupon and will mature on November 1, 2022. The debt is now trading at $102.88 and was trading at $101.25 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.
Other analysts also recently issued reports about the stock. Barclays PLC restated a “buy” rating and issued a $13.00 target price on shares of Dynegy in a report on Tuesday, July 25th. BidaskClub upgraded shares of Dynegy from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $10.82.
Several large investors have recently made changes to their positions in DYN. Vanguard Group Inc. boosted its stake in shares of 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 last quarter. Dimensional Fund Advisors LP boosted its stake 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 worth $48,854,000 after buying an additional 2,185,292 shares during the last quarter. Solus Alternative Asset Management LP purchased a new stake in Dynegy during the second quarter worth approximately $24,997,000. State Street Corp boosted its stake in Dynegy by 6.4% in the second quarter. State Street Corp now owns 2,405,493 shares of the utilities provider’s stock worth $19,895,000 after buying an additional 145,268 shares during the last quarter. Finally, Penn Capital Management Co. Inc. boosted its stake in Dynegy by 11.3% in the second quarter. Penn Capital Management Co. Inc. now owns 2,283,645 shares of the utilities provider’s stock worth $18,886,000 after buying an additional 231,752 shares during the last quarter.
The stock’s market capitalization is $1.22 billion. The company’s 50 day moving average price is $8.43 and its 200-day moving average price is $7.98.
Dynegy (NYSE:DYN) last issued its quarterly 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. Dynegy had a negative return on equity of 12.97% and a negative net margin of 2.72%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $972.27 million. Equities analysts forecast that Dynegy Inc. will post ($0.82) EPS for the current fiscal year.
Dynegy Company Profile
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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