Dynegy DYN

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    1. MISO Capacity Auction Surprises on the Upside

      Commentary

      Wed, 15 Apr 2015

      are raising our fair value estimate for Dynegy to $31 per share from $30 after Midcontinent ISO capacity auction prices for Dynegy 's primary operating region cleared well ..... MW-day for the 2014-15 auction. Dynegy said it cleared 1.9 GW of capacity in

    2. PJM Capacity Performance Still in Play Despite FERC Ruling

      Commentary

      Wed, 1 Apr 2015

      Inclusion of CP would be bullish on upcoming capacity prices. Dynegy should be a winner given that half of it is now in PJM. If capacity prices rise $100/MW-day, we estimate that Dynegy could realize $385 million in additional pretax earnings

    3. FERC Approves Dynegy Purchase of Duke's Midwest Commercial Generation Business

      Commentary

      Mon, 30 Mar 2015

      The Federal Energy Regulatory Commission approved Dynegy 's $2.8 billion purchase of Duke's Midwest commercial ..... estimates, moats, and moat trends for Duke Energy and Dynegy . Dynegy 's purchase of Duke's Midwest commercial generation

    4. Valuations Come Down After Revising Midcycle Power and Gas Prices

      Commentary

      Fri, 13 Mar 2015

      efficiency of its generation fleet. Utilities with merchant coal and nuclear generation such as Dynegy and Exelon were most affected. Our Dynegy fair value estimate fell to $30 per share from $36, and our Exelon fair value estimate fell to

    5. Supreme Court Decision Could Lift Capacity Prices and Earnings for Some Utilities

      Commentary

      Tue, 3 Mar 2015

      offering upside for utilities with significant exposure to PJM. Dynegy should be a winner given that half of its fleet will be in PJM ..... assets. If capacity prices rise $100/MW-day, we estimate Dynegy could realize $385 million in additional pretax earnings

    6. OVEC PPA Ruling Points Toward AEP Generation Sale

      Commentary

      Wed, 25 Feb 2015

      transactions indicate we might have reached the market trough. Duke Energy's recent sale of its unregulated Ohio assets to Dynegy for $2.8 billion was significantly higher than our estimated $2.0 billion-$2.5 billion range, which was based on

    7. Dynegy Lowers Full-Year Guidance, Ends California Strategic Review

      Commentary

      Wed, 25 Feb 2015

      value estimate and no-moat, stable moat trend ratings after Dynegy reported full-year adjusted EBITDA of $347 million, an increase ..... not believe management will look to add assets in the region. Dynegy continues to build out its portfolio of bilateral capacity sales

    8. Additional FERC Request Delays Dynegy Acquisition of Duke Commercial Generation Unit

      Commentary

      Tue, 20 Jan 2015

      recently requested additional information for Dynegy ’s planned acquisition of 6.1 GW of ..... moat ratings, and moat trends for both Dynegy and Duke. FERC requested two additional ..... negative $3 per share fair value impact for Dynegy . We viewed the transaction as a way for

    9. Management Meeting: Duke Energy's Growth Opportunities Support 4%-6% Earnings Growth

      Commentary

      Fri, 14 Nov 2014

      domestic regulated portfolio. Recently, management agreed to sell its no-moat 6.6-gigawatt Midwest generation fleet to Dynegy , identifying funding growth opportunities, reducing holding company debt, and initiating a stock buyback for the use of sale

    10. Dynegy Lowers 2014 Guidance; Increases 2015 Expectations

      Commentary

      Thu, 6 Nov 2014

      Dynegy reported third-quarter adjusted EBITDA ..... tolling and capacity revenue at Moss Landing. Dynegy is currently assessing strategic options ..... expected early next year. During the quarter, Dynegy lined up financing for its planned acquisition

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