American International Group Inc. Has $566,000 Position in Dynegy Inc. (NYSE:DYN)
American International Group Inc. increased its stake in Dynegy Inc. (NYSE:DYN) by 7.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 71,987 shares of the utilities provider’s stock after buying an additional 4,760 shares during the period. American International Group Inc. owned about 0.05% of Dynegy worth $566,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Karp Capital Management Corp acquired a new position in Dynegy during the first quarter worth approximately $165,000. Renaissance Technologies LLC purchased a new stake in shares of Dynegy during the fourth quarter worth about $3,740,000. Quantum Capital Management purchased a new stake in shares of Dynegy during the first quarter worth about $156,000. Clinton Group Inc. purchased a new stake in shares of Dynegy during the first quarter worth about $1,264,000. Finally, Brookfield Asset Management Inc. raised its stake in shares of Dynegy by 22.2% in the fourth quarter. Brookfield Asset Management Inc. now owns 275,000 shares of the utilities provider’s stock worth $2,327,000 after buying an additional 50,000 shares during the last quarter.
Shares of Dynegy Inc. (DYN) traded up 5.20% on Friday, hitting $8.49. 7,904,593 shares of the stock were exchanged. Dynegy Inc. has a one year low of $5.84 and a one year high of $15.59. The firm’s 50-day moving average is $8.33 and its 200-day moving average is $8.05. The company’s market cap is $1.12 billion.
Dynegy (NYSE:DYN) last issued its earnings results on Thursday, August 3rd. The utilities provider reported ($0.83) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by $0.61. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $972.27 million. Dynegy had a negative return on equity of 14.18% and a negative net margin of 14.25%. On average, equities analysts forecast that Dynegy Inc. will post ($0.63) EPS for the current fiscal year.
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Several equities analysts recently commented on the company. BidaskClub lowered Dynegy from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Barclays PLC restated a “buy” rating and issued a $13.00 price objective on shares of Dynegy in a research note on Tuesday, July 25th. Finally, Deutsche Bank AG upgraded shares of Dynegy from a “sell” rating to a “hold” rating and upped their price objective for the company from $6.00 to $7.00 in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $10.39.
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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