California State Teachers Retirement System trimmed its stake in shares of Dynegy Inc. (NYSE:DYN) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,016 shares of the utilities provider’s stock after selling 18,840 shares during the quarter. California State Teachers Retirement System owned about 0.13% of Dynegy worth $1,733,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in DYN. Schwab Charles Investment Management Inc. boosted its position in Dynegy by 30.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 927,816 shares of the utilities provider’s stock worth $7,674,000 after purchasing an additional 215,124 shares during the period. Legal & General Group Plc lifted its holdings in shares of Dynegy by 1.4% during the second quarter. Legal & General Group Plc now owns 187,960 shares of the utilities provider’s stock worth $1,556,000 after buying an additional 2,560 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Dynegy by 384.6% during the second quarter. BNP Paribas Arbitrage SA now owns 22,160 shares of the utilities provider’s stock worth $181,000 after buying an additional 17,587 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Dynegy by 25.9% during the second quarter. Swiss National Bank now owns 207,350 shares of the utilities provider’s stock worth $1,715,000 after buying an additional 42,600 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of 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 buying an additional 1,643 shares in the last quarter.
DYN has been the subject of a number of research reports. Royal Bank of Canada reissued a “hold” rating and set a $8.00 target price on shares of Dynegy in a report on Tuesday, October 10th. Zacks Investment Research downgraded Dynegy from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. SunTrust Banks reissued a “buy” rating on shares of Dynegy in a report on Friday, October 13th. Deutsche Bank downgraded Dynegy from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, Bank of America initiated coverage on Dynegy in a report on Tuesday, October 24th. They set a “buy” rating and a $11.00 target price for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Dynegy has an average rating of “Hold” and an average target price of $13.01.
In related news, major shareholder Ecp Controlco, Llc sold 5,250,000 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $11.79, for a total value of $61,897,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by insiders.
Dynegy Inc. (NYSE:DYN) opened at $12.59 on Friday. The company has a market capitalization of $1,740.00, a PE ratio of -54.74 and a beta of 1.90. Dynegy Inc. has a 52 week low of $5.84 and a 52 week high of $12.84. The company has a debt-to-equity ratio of 5.46, a current ratio of 1.97 and a quick ratio of 1.47.
Dynegy (NYSE:DYN) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($1.11). Dynegy had a negative net margin of 0.22% and a negative return on equity of 17.98%.
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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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