Penn Capital Management Co. Inc. lessened its stake in Dynegy Inc. (NYSE:DYN) by 15.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,938,030 shares of the utilities provider’s stock after selling 354,461 shares during the quarter. Dynegy makes up 1.6% of Penn Capital Management Co. Inc.’s holdings, making the stock its 4th biggest position. Penn Capital Management Co. Inc. owned about 1.34% of Dynegy worth $22,987,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DYN. Alpine Associates Management Inc. acquired a new stake in shares of Dynegy in the 4th quarter valued at approximately $26,975,000. Dimensional Fund Advisors LP boosted its holdings in shares of Dynegy by 58.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,907,332 shares of the utilities provider’s stock valued at $48,854,000 after buying an additional 2,185,292 shares during the last quarter. Graticule Asia Macro Advisors LLC acquired a new stake in shares of Dynegy in the 3rd quarter valued at approximately $11,326,000. Omni Partners LLP acquired a new stake in shares of Dynegy in the 4th quarter valued at approximately $11,879,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Dynegy by 456.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,208,403 shares of the utilities provider’s stock valued at $14,319,000 after buying an additional 991,399 shares during the last quarter.
Shares of Dynegy Inc. (DYN) opened at $12.13 on Friday. Dynegy Inc. has a twelve month low of $5.84 and a twelve month high of $12.84. The stock has a market capitalization of $1,735.50, a price-to-earnings ratio of -23.33 and a beta of 1.90. The company has a current ratio of 1.97, a quick ratio of 1.47 and a debt-to-equity ratio of 5.46.
Several brokerages have issued reports on DYN. TheStreet raised Dynegy from a “d+” rating to a “c-” rating in a report on Friday, January 12th. Zacks Investment Research raised Dynegy from a “sell” rating to a “hold” rating in a report on Friday, December 1st. SunTrust Banks set a $13.00 price target on Dynegy and gave the company a “hold” rating in a report on Monday, January 22nd. Morgan Stanley set a $15.00 price target on Dynegy and gave the company a “buy” rating in a report on Thursday, October 26th. Finally, ValuEngine downgraded Dynegy from a “hold” rating to a “sell” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Dynegy currently has a consensus rating of “Hold” and an average target price of $13.01.
In other Dynegy news, major shareholder Ecp Controlco, Llc sold 5,250,000 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $11.79, for a total transaction of $61,897,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.
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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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