Dynegy Inc. (DYN) Bonds Drop 5.4% During Trading
An issue of Dynegy Inc. (NYSE:DYN) debt fell 5.4% as a percentage of its face value during trading on Wednesday. The high-yield debt issue has a 7.625% coupon and will mature on November 1, 2024. The bonds in the issue are now trading at $100.15 and were trading at $104.13 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its share price.
Several research analysts have recently issued reports on DYN shares. Royal Bank Of Canada reiterated a “hold” rating and issued a $8.00 price objective on shares of Dynegy in a report on Monday, September 4th. BidaskClub lowered shares of Dynegy from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Barclays PLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Dynegy in a research note on Tuesday, July 25th. Deutsche Bank AG decreased their price objective on shares of Dynegy from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Monday, August 7th. Finally, Zacks Investment Research lowered shares of Dynegy from a “hold” rating to a “sell” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $11.00.
Shares of Dynegy Inc. (NYSE DYN) opened at 9.59 on Friday. The firm has a 50-day moving average of $9.46 and a 200-day moving average of $8.31. The stock’s market cap is $1.26 billion. Dynegy Inc. has a 52-week low of $5.84 and a 52-week high of $13.59.
Dynegy (NYSE:DYN) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported ($0.83) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.61). The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $972.27 million. Dynegy had a negative net margin of 2.72% and a negative return on equity of 12.97%. On average, equities analysts expect that Dynegy Inc. will post ($0.69) EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. QCM Cayman Ltd. bought a new stake in shares of Dynegy in the second quarter worth $100,000. Integral Derivatives LLC bought a new stake in shares of Dynegy in the second quarter worth $102,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Dynegy in the first quarter worth $115,000. Profund Advisors LLC lifted its position in shares of Dynegy by 20.2% in the second quarter. Profund Advisors LLC now owns 15,801 shares of the utilities provider’s stock worth $131,000 after purchasing an additional 2,655 shares in the last quarter. Finally, Karp Capital Management Corp bought a new stake in shares of Dynegy in the first quarter worth $165,000.
Dynegy Company Profile
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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