American International Group Inc. increased its stake in Dynegy Inc. (NYSE:DYN) by 7.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (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.’s holdings in Dynegy were worth $566,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in Dynegy by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 13,000 shares of the utilities provider’s stock valued at $102,000 after buying an additional 3,000 shares in the last quarter. Advent Capital Management DE bought a new position in Dynegy during the first quarter valued at approximately $103,000. UBS Asset Management Americas Inc. raised its position in Dynegy by 20.6% in the first quarter. UBS Asset Management Americas Inc. now owns 94,477 shares of the utilities provider’s stock valued at $743,000 after buying an additional 16,143 shares in the last quarter. GSA Capital Partners LLP bought a new position in Dynegy during the fourth quarter valued at approximately $159,000. Finally, Quantum Capital Management bought a new position in Dynegy during the first quarter valued at approximately $156,000.
Shares of Dynegy Inc. (NYSE DYN) opened at 7.67 on Monday. The company’s market cap is $1.01 billion. The stock’s 50 day moving average is $8.08 and its 200 day moving average is $8.11. Dynegy Inc. has a 1-year low of $5.84 and a 1-year high of $18.39.
Dynegy (NYSE:DYN) last posted its quarterly earnings data on Thursday, May 4th. The utilities provider reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.42. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Dynegy had a negative net margin of 14.25% and a negative return on equity of 14.18%. On average, analysts predict that Dynegy Inc. will post ($0.62) earnings per share for the current year.
DYN has been the subject of several recent analyst reports. BidaskClub upgraded Dynegy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Royal Bank of Canada restated a “hold” rating and set a $8.00 target price on shares of Dynegy in a research report on Wednesday, March 15th. Zacks Investment Research lowered Dynegy from a “buy” rating to a “hold” rating in a research report on Monday, March 13th. Finally, Deutsche Bank AG upgraded Dynegy from a “sell” rating to a “hold” rating and boosted their target price for the company from $6.00 to $7.00 in a research report on Wednesday, April 26th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $11.13.
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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