Investors Buy Shares of Dynegy Inc. (DYN) on Weakness
Investors bought shares of Dynegy Inc. (NYSE:DYN) on weakness during trading hours on Thursday. $10.50 million flowed into the stock on the tick-up and $4.79 million flowed out of the stock on the tick-down, for a money net flow of $5.71 million into the stock. Of all companies tracked, Dynegy had the 27th highest net in-flow for the day. Dynegy traded down ($0.12) for the day and closed at $12.27
A number of research analysts have commented on the stock. Morgan Stanley set a $15.00 price objective on shares of Dynegy and gave the company a “buy” rating in a research note on Thursday, October 26th. Deutsche Bank AG dropped their price objective on shares of Dynegy from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Monday, August 7th. Guggenheim restated a “buy” rating and issued a $18.00 price objective (up from $14.00) on shares of Dynegy in a research note on Monday, August 21st. BidaskClub upgraded shares of Dynegy from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Finally, 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Dynegy has an average rating of “Hold” and a consensus price target of $12.34.
The company has a current ratio of 1.97, a quick ratio of 1.47 and a debt-to-equity ratio of 5.46.
Several large investors have recently modified their holdings of the company. Neuberger Berman Group LLC boosted its holdings in shares of Dynegy by 9.2% in the third quarter. Neuberger Berman Group LLC now owns 2,221,544 shares of the utilities provider’s stock valued at $21,749,000 after acquiring an additional 187,353 shares in the last quarter. Davidson Kempner Capital Management LP purchased a new stake in Dynegy during the third quarter worth about $6,880,000. Cubist Systematic Strategies LLC boosted its holdings in Dynegy by 1,260.4% during the third quarter. Cubist Systematic Strategies LLC now owns 27,154 shares of the utilities provider’s stock worth $266,000 after buying an additional 25,158 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Dynegy by 6.9% during the third quarter. Point72 Asset Management L.P. now owns 4,865,431 shares of the utilities provider’s stock worth $47,633,000 after buying an additional 311,931 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. purchased a new stake in Dynegy during the third quarter worth about $3,767,000.
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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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