Great Plains Energy Inc (NYSE:GXP) Stake Reduced by First Trust Advisors LP

First Trust Advisors LP reduced its position in Great Plains Energy Inc (NYSE:GXP) by 7.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,597,116 shares of the utilities provider’s stock after selling 214,738 shares during the period. First Trust Advisors LP owned 1.21% of Great Plains Energy worth $76,044,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the company. Teachers Advisors LLC raised its position in Great Plains Energy by 140.0% in the fourth quarter. Teachers Advisors LLC now owns 433,889 shares of the utilities provider’s stock worth $11,867,000 after buying an additional 253,127 shares in the last quarter. Macquarie Group Ltd. raised its position in Great Plains Energy by 63.3% in the fourth quarter. Macquarie Group Ltd. now owns 73,500 shares of the utilities provider’s stock worth $2,010,000 after buying an additional 28,500 shares in the last quarter. Raymond James Trust N.A. raised its position in Great Plains Energy by 8.8% in the first quarter. Raymond James Trust N.A. now owns 13,904 shares of the utilities provider’s stock worth $406,000 after buying an additional 1,121 shares in the last quarter. Capstone Asset Management Co. raised its position in Great Plains Energy by 1.8% in the first quarter. Capstone Asset Management Co. now owns 19,492 shares of the utilities provider’s stock worth $570,000 after buying an additional 350 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Great Plains Energy by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 54,400 shares of the utilities provider’s stock worth $1,590,000 after buying an additional 1,200 shares in the last quarter. 87.70% of the stock is owned by hedge funds and other institutional investors.

Shares of Great Plains Energy Inc (NYSE GXP) opened at 30.89 on Friday. The stock has a market cap of $6.66 billion, a P/E ratio of 36.64 and a beta of 0.44. The firm has a 50-day moving average of $30.21 and a 200-day moving average of $29.07. Great Plains Energy Inc has a 52-week low of $25.85 and a 52-week high of $31.69.

Great Plains Energy (NYSE:GXP) last released its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The company had revenue of $682.60 million during the quarter, compared to analyst estimates of $677 million. Great Plains Energy had a net margin of 8.00% and a return on equity of 5.62%. During the same quarter last year, the company earned $0.55 EPS. On average, equities analysts expect that Great Plains Energy Inc will post $1.66 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Tuesday, August 29th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, August 25th. Great Plains Energy’s dividend payout ratio (DPR) is presently 105.77%.

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GXP has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Great Plains Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. BidaskClub upgraded shares of Great Plains Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, J P Morgan Chase & Co upgraded shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $31.00 to $32.00 in a research report on Tuesday, July 11th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Great Plains Energy presently has an average rating of “Buy” and a consensus target price of $31.56.

Great Plains Energy Company Profile

Great Plains Energy Incorporated (Great Plains Energy) is a utility holding company. The Company operates through electric utility segment. The Company’s subsidiaries with operations include Kansas City Power & Light Company (KCP&L) and KCP&L Greater Missouri Operations Company (GMO). KCP&L is an integrated, regulated electric utility that provides electricity to customers primarily in the states of Missouri and Kansas.

Institutional Ownership by Quarter for Great Plains Energy (NYSE:GXP)

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