Cowen Inc. bought a new stake in Dynegy (NYSE:DYN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 420,427 shares of the utilities provider’s stock, valued at approximately $4,982,000. Cowen Inc. owned about 0.29% of Dynegy as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Suntrust Banks Inc. bought a new stake in Dynegy in the fourth quarter valued at $135,000. Stone Ridge Asset Management LLC bought a new stake in Dynegy in the fourth quarter valued at $138,000. KBC Group NV bought a new stake in Dynegy in the third quarter valued at $158,000. Hotchkis & Wiley Capital Management LLC bought a new stake in Dynegy in the third quarter valued at $187,000. Finally, Castleton Investment Management LLC bought a new stake in Dynegy in the fourth quarter valued at $234,000.
In related news, major shareholder Ecp Controlco, Llc sold 5,250,000 shares of Dynegy stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by insiders.
Shares of NYSE DYN traded down $0.33 during midday trading on Friday, reaching $12.81. 22,153,214 shares of the company traded hands, compared to its average volume of 3,100,982. Dynegy has a 52 week low of $5.84 and a 52 week high of $13.92. The company has a quick ratio of 1.03, a current ratio of 1.45 and a debt-to-equity ratio of 4.40. The stock has a market cap of $1,897.30, a P/E ratio of 58.23 and a beta of 1.60.
Dynegy (NYSE:DYN) last issued its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.34. Dynegy had a net margin of 1.57% and a negative return on equity of 11.03%. The business had revenue of $994.00 million for the quarter, compared to analysts’ expectations of $1.17 billion. sell-side analysts anticipate that Dynegy will post 1 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the company. TheStreet upgraded Dynegy from a “d+” rating to a “c-” rating in a research note on Friday, January 12th. ValuEngine upgraded Dynegy from a “strong sell” rating to a “sell” rating in a research note on Monday, April 2nd. SunTrust Banks reiterated a “hold” rating and issued a $14.00 target price on shares of Dynegy in a research note on Tuesday, March 6th. Finally, Zacks Investment Research upgraded Dynegy from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Dynegy presently has an average rating of “Hold” and a consensus price target of $13.57.
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Dynegy Company Profile
Dynegy Inc, through its subsidiaries, produces and sells electric energy, capacity, and ancillary services in the United States. It operates in five segments: PJM, NY/NE, ERCOT, MISO, and CAISO. The company sells its services on a wholesale basis from its power generation facilities. It has a fleet of 43 power plants in 12 states totaling approximately 28,000 megawatts of generating capacity.
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