Convergence Investment Partners LLC lessened its stake in shares of Dynegy Inc. (NYSE:DYN) by 46.6% in the 4th quarter, HoldingsChannel reports. The fund owned 126,698 shares of the utilities provider’s stock after selling 110,616 shares during the period. Convergence Investment Partners LLC’s holdings in Dynegy were worth $1,501,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Dynegy by 58.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,907,332 shares of the utilities provider’s stock valued at $48,854,000 after acquiring an additional 2,185,292 shares in the last quarter. Empyrean Capital Partners LP raised its stake in Dynegy by 227.6% in the second quarter. Empyrean Capital Partners LP now owns 1,310,392 shares of the utilities provider’s stock worth $10,837,000 after buying an additional 910,392 shares in the last quarter. Raffles Associates LP raised its stake in Dynegy by 71.4% in the second quarter. Raffles Associates LP now owns 240,000 shares of the utilities provider’s stock worth $1,985,000 after buying an additional 100,000 shares in the last quarter. Brookfield Asset Management Inc. raised its stake in Dynegy by 50.0% in the second quarter. Brookfield Asset Management Inc. now owns 450,000 shares of the utilities provider’s stock worth $3,722,000 after buying an additional 150,000 shares in the last quarter. Finally, Davidson Kempner Capital Management LP bought a new position in Dynegy in the third quarter worth approximately $6,880,000.
Dynegy Inc. (NYSE DYN) opened at $12.07 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.97 and a debt-to-equity ratio of 5.46. Dynegy Inc. has a 1-year low of $5.84 and a 1-year high of $12.84. The stock has a market cap of $1,711.12, a price-to-earnings ratio of -23.21 and a beta of 1.90.
In other Dynegy news, major shareholder Ecp Controlco, Llc sold 5,250,000 shares of Dynegy stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $11.79, for a total value of $61,897,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.80% of the stock is currently owned by insiders.
DYN has been the subject of a number of recent research reports. Royal Bank of Canada reissued a “hold” rating and issued a $8.00 price objective on shares of Dynegy in a research note on Tuesday, October 10th. Zacks Investment Research downgraded shares of Dynegy from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. SunTrust Banks reissued a “buy” rating on shares of Dynegy in a research note on Friday, October 13th. Deutsche Bank downgraded shares of Dynegy from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, Bank of America initiated coverage on shares of Dynegy in a research note on Tuesday, October 24th. They issued a “buy” rating and a $11.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $13.01.
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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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