An issue of Dynegy Inc. (NYSE:DYN) debt rose 1.3% against its face value during trading on Friday. The high-yield issue of debt has a 8% coupon and will mature on January 15, 2025. The bonds in the issue are now trading at $105.25. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.
DYN has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Dynegy from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Royal Bank Of Canada restated a “hold” rating and set a $8.00 price objective on shares of Dynegy in a research report on Monday, September 4th. Barclays PLC restated a “buy” rating and set a $13.00 price objective on shares of Dynegy in a research report on Tuesday, July 25th. Guggenheim restated a “buy” rating and set a $18.00 price objective (up from $14.00) on shares of Dynegy in a research report on Monday, August 21st. Finally, Deutsche Bank AG reduced their price objective on shares of Dynegy from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $11.00.
Dynegy Inc. (NYSE:DYN) opened at 9.51 on Friday. The firm’s 50-day moving average is $9.49 and its 200-day moving average is $8.24. Dynegy Inc. has a 52-week low of $5.84 and a 52-week high of $13.59. The firm’s market capitalization is $1.25 billion. Dynegy also saw some unusual options trading on Thursday. Stock traders bought 24,901 call options on the company. This is an increase of approximately 1,278% compared to the typical volume of 1,807 call options.
Dynegy (NYSE:DYN) last released its earnings results on Thursday, August 3rd. The utilities provider reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.61). Dynegy had a negative net margin of 2.72% and a negative return on equity of 12.97%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $972.27 million. On average, analysts anticipate that Dynegy Inc. will post ($0.69) earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Dynegy by 7.7% during the 2nd quarter. Vanguard Group Inc. now owns 9,864,122 shares of the utilities provider’s stock worth $81,577,000 after buying an additional 702,231 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Dynegy by 58.7% during the 2nd 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 acquired a new position in shares of Dynegy during the 2nd quarter worth $24,997,000. State Street Corp raised its stake in shares of Dynegy by 6.4% during the 2nd 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. raised its stake in shares of Dynegy by 11.3% during the 2nd 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.
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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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