Cowen Inc. purchased a new position in Dynegy Inc. (NYSE:DYN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 420,427 shares of the utilities provider’s stock, valued at approximately $4,982,000. Cowen Inc. owned about 0.29% of Dynegy at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Deutsche Bank AG lifted its stake in shares of Dynegy by 2,627.8% in the fourth quarter. Deutsche Bank AG now owns 12,244,151 shares of the utilities provider’s stock worth $145,090,000 after buying an additional 11,795,292 shares in the last quarter. Alpine Associates Management Inc. purchased a new position in Dynegy during the fourth quarter worth about $26,975,000. Renaissance Technologies LLC raised its stake in Dynegy by 2,473.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,487,256 shares of the utilities provider’s stock worth $17,624,000 after purchasing an additional 1,429,456 shares during the period. Graticule Asia Macro Advisors LLC purchased a new position in Dynegy during the third quarter worth about $11,326,000. Finally, Goldman Sachs Group Inc. raised its stake in Dynegy by 354.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,466,098 shares of the utilities provider’s stock worth $17,373,000 after purchasing an additional 1,143,147 shares during the period.
A number of equities research analysts have recently issued reports on DYN shares. Zacks Investment Research raised shares of Dynegy from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. SunTrust Banks restated a “hold” rating and issued a $14.00 price objective on shares of Dynegy in a report on Tuesday, March 6th. TheStreet upgraded shares of Dynegy from a “d+” rating to a “c-” rating in a report on Friday, January 12th. Finally, ValuEngine cut shares of 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, four have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.57.
Shares of Dynegy Inc. (NYSE:DYN) opened at $13.22 on Friday. Dynegy Inc. has a 12-month low of $5.84 and a 12-month high of $13.58. The company has a quick ratio of 1.03, a current ratio of 1.45 and a debt-to-equity ratio of 4.40.
Dynegy (NYSE:DYN) last released its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.33) by $0.34. The firm had revenue of $994.00 million during the quarter, compared to the consensus estimate of $1.17 billion. Dynegy had a net margin of 1.57% and a negative return on equity of 11.03%. equities research analysts expect that Dynegy Inc. will post 1 EPS for the current fiscal year.
In other Dynegy news, major shareholder Ecp Controlco, Llc sold 5,250,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $11.79, for a total transaction of $61,897,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.
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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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