An issue of Dynegy Inc. (NYSE:DYN) bonds rose 1.8% as a percentage of their face value during trading on Monday. The high-yield debt issue has a 8.125% coupon and will mature on January 30, 2026. The bonds in the issue are now trading at $110.75 and were trading at $105.06 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.
A number of analysts recently commented on DYN shares. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Dynegy in a report on Friday, October 13th. Barclays PLC reissued a “buy” rating and issued a $13.00 target price on shares of Dynegy in a research report on Tuesday, July 25th. Guggenheim reissued a “buy” rating and issued a $18.00 target price (up from $14.00) on shares of Dynegy in a research report on Monday, August 21st. Bank of America Corporation began coverage on Dynegy in a research report on Tuesday, October 24th. They issued a “buy” rating and a $11.00 target price for the company. Finally, Morgan Stanley set a $15.00 target price on Dynegy and gave the stock a “buy” rating in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $11.89.
Shares of Dynegy Inc. (NYSE DYN) traded down 0.683% during trading on Wednesday, hitting $12.365. The stock had a trading volume of 2,834,769 shares. Dynegy Inc. has a 1-year low of $5.84 and a 1-year high of $12.84. The stock’s 50-day moving average price is $9.77 and its 200 day moving average price is $8.54. The firm’s market capitalization is $1.62 billion.
Dynegy (NYSE:DYN) last announced its earnings results on Thursday, August 3rd. The utilities provider reported ($0.83) EPS for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $972.27 million. On average, analysts anticipate that Dynegy Inc. will post ($0.69) earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the business. Parametrica Management Ltd purchased a new stake in Dynegy in the 3rd quarter worth $150,000. First Quadrant L P CA purchased a new stake in Dynegy in the 3rd quarter worth $189,000. First Trust Advisors LP purchased a new stake in Dynegy in the 3rd quarter worth $1,434,000. Mizuho Securities USA LLC purchased a new stake in Dynegy in the 3rd quarter worth $152,000. Finally, Nationwide Fund Advisors increased its stake in Dynegy by 9.5% in the 3rd quarter. Nationwide Fund Advisors now owns 331,310 shares of the utilities provider’s stock worth $3,244,000 after buying an additional 28,817 shares in 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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