New York State Common Retirement Fund lowered its stake in shares of Dynegy (NYSE:DYN) by 11.3% during the first quarter, HoldingsChannel.com reports. The firm owned 587,789 shares of the utilities provider’s stock after selling 74,959 shares during the period. New York State Common Retirement Fund’s holdings in Dynegy were worth $7,947,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Suntrust Banks Inc. purchased a new position in Dynegy during the fourth quarter worth approximately $135,000. Stone Ridge Asset Management LLC purchased a new position in Dynegy during the fourth quarter worth approximately $138,000. Gamco Investors INC. ET AL purchased a new position in Dynegy during the first quarter worth approximately $260,000. Castleton Investment Management LLC purchased a new position in Dynegy during the fourth quarter worth approximately $234,000. Finally, Harvest Management LLC purchased a new position in Dynegy during the fourth quarter worth approximately $444,000.
A number of research firms have weighed in on DYN. SunTrust Banks reaffirmed a “hold” rating and set a $14.00 price target on shares of Dynegy in a research note on Tuesday, March 6th. ValuEngine raised shares of Dynegy from a “strong sell” rating to a “sell” rating in a research note on Monday, April 2nd. Guggenheim reaffirmed a “buy” rating on shares of Dynegy in a research note on Tuesday, April 10th. Finally, Zacks Investment Research raised shares of Dynegy from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $13.57.
Dynegy opened at $12.81 on Friday, MarketBeat reports. Dynegy has a 52-week low of $5.84 and a 52-week high of $13.92. The firm has a market capitalization of $1.85 billion, a PE ratio of 58.23 and a beta of 1.59. 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 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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