Dynegy Inc. (DYN) Debt Trading 5.4% Lower

An issue of Dynegy Inc. (NYSE:DYN) debt fell 5.4% as a percentage of its face value during trading on Wednesday. The high-yield issue of debt has a 7.625% coupon and is set to mature on November 1, 2024. The debt is now trading at $100.15 and was trading at $104.13 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.

A number of research analysts have weighed in on DYN shares. Royal Bank Of Canada reissued a “hold” rating and set a $8.00 target price on shares of Dynegy in a research report on Monday, September 4th. BidaskClub lowered shares of Dynegy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Barclays PLC reissued a “buy” rating and set a $13.00 target price on shares of Dynegy in a research report on Tuesday, July 25th. Deutsche Bank AG cut their target price 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. Finally, Guggenheim reissued a “buy” rating and set a $18.00 target price (up previously from $14.00) on shares of Dynegy in a research report on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Dynegy Inc. (NYSE:DYN) traded down 0.21% on Wednesday, hitting $9.36. 3,065,205 shares of the stock traded hands. The stock’s market cap is $1.23 billion. The firm’s 50 day moving average is $9.48 and its 200 day moving average is $8.29. Dynegy Inc. has a 52 week low of $5.84 and a 52 week high of $13.59.

Dynegy (NYSE:DYN) last posted 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 return on equity of 12.97% and a negative net margin of 2.72%. Equities analysts anticipate that Dynegy Inc. will post ($0.69) earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its position in Dynegy by 11.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 16,302 shares of the utilities provider’s stock worth $135,000 after acquiring an additional 1,643 shares during the period. Legal & General Group Plc increased its position in Dynegy by 1.4% during the first quarter. Legal & General Group Plc now owns 185,400 shares of the utilities provider’s stock worth $1,453,000 after acquiring an additional 2,527 shares during the period. Profund Advisors LLC increased its position in Dynegy by 20.2% during the second quarter. Profund Advisors LLC now owns 15,801 shares of the utilities provider’s stock worth $131,000 after acquiring an additional 2,655 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Dynegy by 3.3% during the first quarter. Metropolitan Life Insurance Co. NY now owns 84,419 shares of the utilities provider’s stock worth $664,000 after acquiring an additional 2,712 shares during the period. Finally, American International Group Inc. increased its position in Dynegy by 7.1% during the first quarter. American International Group Inc. now owns 71,987 shares of the utilities provider’s stock worth $566,000 after acquiring an additional 4,760 shares during the period.

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About Dynegy

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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