Dynegy Inc. (DYN) Shares Bought by Penn Capital Management Co. Inc.
Penn Capital Management Co. Inc. boosted its stake in Dynegy Inc. (NYSE:DYN) by 11.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,283,645 shares of the utilities provider’s stock after purchasing an additional 231,752 shares during the quarter. Dynegy makes up 1.4% of Penn Capital Management Co. Inc.’s investment portfolio, making the stock its 8th largest position. Penn Capital Management Co. Inc. owned about 1.74% of Dynegy worth $18,886,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Karp Capital Management Corp bought a new position in Dynegy in the 1st quarter worth about $165,000. Bank of Nova Scotia bought a new position in Dynegy in the 1st quarter worth about $7,781,000. Loews Corp bought a new position in Dynegy in the 1st quarter worth about $1,100,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Dynegy in the 2nd quarter worth about $9,398,000. Finally, Brookfield Asset Management Inc. boosted its stake in Dynegy by 9.1% in the 1st quarter. Brookfield Asset Management Inc. now owns 300,000 shares of the utilities provider’s stock worth $2,358,000 after purchasing an additional 25,000 shares during the period.
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Shares of Dynegy Inc. (NYSE DYN) traded up 0.84% during mid-day trading on Wednesday, hitting $9.65. The stock had a trading volume of 299,645 shares. The company’s market cap is $1.27 billion. The stock’s 50-day moving average is $9.07 and its 200 day moving average is $8.06. Dynegy Inc. has a 12 month low of $5.84 and a 12 month high of $13.81.
Dynegy (NYSE:DYN) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.61). The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $972.27 million. Dynegy had a negative return on equity of 12.97% and a negative net margin of 2.72%. On average, equities research analysts forecast that Dynegy Inc. will post ($0.69) earnings per share for the current fiscal year.
Several research analysts have commented on DYN shares. BidaskClub upgraded Dynegy from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada restated a “hold” rating and issued a $8.00 target price on shares of Dynegy in a research note on Monday, September 4th. Barclays PLC restated a “buy” rating and issued a $13.00 target price on shares of Dynegy in a research note on Tuesday, July 25th. Guggenheim restated a “buy” rating and issued a $18.00 target price (up previously from $14.00) on shares of Dynegy in a research note on Monday, August 21st. Finally, Deutsche Bank AG cut their target price on Dynegy from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Monday, August 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Dynegy presently has an average rating of “Hold” and a consensus price target of $10.68.
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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