Parkwood LLC reduced its stake in Dynegy Inc. (NYSE:DYN) by 9.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,400 shares of the utilities provider’s stock after selling 10,470 shares during the period. Parkwood LLC owned 0.08% of Dynegy worth $781,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in shares of Dynegy by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 13,000 shares of the utilities provider’s stock valued at $102,000 after buying an additional 3,000 shares during the period. Advent Capital Management DE bought a new stake in shares of Dynegy during the first quarter valued at about $103,000. Glassman Wealth Services bought a new stake in shares of Dynegy during the fourth quarter valued at about $119,000. Synovus Financial Corp increased its stake in shares of Dynegy by 64.9% in the third quarter. Synovus Financial Corp now owns 12,414 shares of the utilities provider’s stock valued at $154,000 after buying an additional 4,884 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Dynegy during the fourth quarter valued at about $159,000.
Shares of Dynegy Inc. (NYSE:DYN) traded down 2.44% during mid-day trading on Tuesday, reaching $6.40. The company’s stock had a trading volume of 2,759,760 shares. Dynegy Inc. has a 12 month low of $5.84 and a 12 month high of $22.01. The company has a 50 day moving average of $7.08 and a 200-day moving average of $8.54. The firm’s market capitalization is $840.61 million.
Dynegy (NYSE:DYN) last released its quarterly earnings results on Thursday, May 4th. The utilities provider reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.42. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. Dynegy had a negative return on equity of 13.22% and a negative net margin of 28.25%. Equities research analysts forecast that Dynegy Inc. will post ($0.76) EPS for the current year.
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Several brokerages recently issued reports on DYN. Zacks Investment Research downgraded Dynegy from a “buy” rating to a “hold” rating in a report on Monday, March 13th. Deutsche Bank AG downgraded Dynegy from a “hold” rating to a “sell” rating and cut their price target for the stock from $8.00 to $6.00 in a report on Thursday, February 9th. Royal Bank of Canada reissued a “hold” rating and issued a $8.00 price target on shares of Dynegy in a report on Wednesday, March 15th. Barclays PLC raised their price target on Dynegy from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, January 20th. Finally, Goldman Sachs Group Inc began coverage on Dynegy in a report on Tuesday, February 21st. They issued a “neutral” rating and a $10.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $12.25.
In other news, insider Robert C. Flexon acquired 25,000 shares of Dynegy stock in a transaction on Thursday, March 9th. The shares were purchased at an average price of $7.62 per share, with a total value of $190,500.00. Following the acquisition, the insider now owns 704,614 shares in the company, valued at $5,369,158.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert C. Flexon acquired 15,000 shares of Dynegy stock in a transaction on Friday, March 24th. The shares were purchased at an average cost of $7.16 per share, for a total transaction of $107,400.00. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by corporate insiders.
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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