Point72 Asset Management L.P. raised its holdings in shares of Dynegy Inc. (NYSE:DYN) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,865,431 shares of the utilities provider’s stock after purchasing an additional 311,931 shares during the period. Point72 Asset Management L.P. owned approximately 3.70% of Dynegy worth $47,633,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Oppenheimer Asset Management Inc. boosted its stake in Dynegy by 11.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,302 shares of the utilities provider’s stock valued at $135,000 after purchasing an additional 1,643 shares during the last quarter. Legal & General Group Plc boosted its stake in Dynegy by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 187,960 shares of the utilities provider’s stock valued at $1,556,000 after purchasing an additional 2,560 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Dynegy by 20.2% in the 2nd quarter. Profund Advisors LLC now owns 15,801 shares of the utilities provider’s stock worth $131,000 after buying an additional 2,655 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Dynegy by 10.0% in the 2nd quarter. Voya Investment Management LLC now owns 53,376 shares of the utilities provider’s stock worth $441,000 after buying an additional 4,833 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Dynegy by 27.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 24,002 shares of the utilities provider’s stock worth $235,000 after buying an additional 5,136 shares during the last quarter.
A number of research firms have recently issued reports on DYN. Morgan Stanley set a $15.00 price target on Dynegy and gave the stock a “buy” rating in a research note on Thursday, October 26th. Guggenheim restated a “buy” rating and issued a $18.00 price target (up from $14.00) on shares of Dynegy in a research note on Monday, August 21st. BidaskClub upgraded Dynegy from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Royal Bank of Canada restated a “hold” rating and issued a $8.00 price target on shares of Dynegy in a research note on Tuesday, October 10th. Finally, Deutsche Bank upgraded Dynegy from a “sell” rating to a “hold” rating and set a $13.00 price target on the stock in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $12.34.
Dynegy Inc. (NYSE DYN) opened at $11.55 on Tuesday. The company has a debt-to-equity ratio of 5.46, a quick ratio of 1.47 and a current ratio of 1.97. Dynegy Inc. has a 52 week low of $5.84 and a 52 week high of $12.84.
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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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