BidaskClub upgraded shares of Great Plains Energy Inc (NYSE:GXP) from a hold rating to a buy rating in a report issued on Tuesday morning.
GXP has been the subject of a number of other research reports. Zacks Investment Research cut Great Plains Energy from a buy rating to a hold rating in a research note on Thursday, May 25th. J P Morgan Chase & Co upgraded Great Plains Energy from a neutral rating to an overweight rating and raised their target price for the company from $31.00 to $32.00 in a research note on Tuesday, July 11th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $31.56.
Great Plains Energy (NYSE:GXP) traded down 0.93% during mid-day trading on Tuesday, hitting $30.89. The stock had a trading volume of 2,974,988 shares. The firm has a market cap of $6.66 billion, a PE ratio of 36.64 and a beta of 0.44. Great Plains Energy has a 52 week low of $25.85 and a 52 week high of $31.69. The company’s 50 day moving average price is $30.21 and its 200 day moving average price is $29.07.
Great Plains Energy (NYSE:GXP) last released its earnings results on Wednesday, August 9th. The utilities provider reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.04. The firm had revenue of $682.60 million during the quarter, compared to analysts’ expectations 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 in the previous year, the business earned $0.55 EPS. Analysts anticipate that Great Plains Energy will post $1.66 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Tuesday, August 29th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Friday, August 25th. Great Plains Energy’s dividend payout ratio is currently 105.77%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in Great Plains Energy by 90.3% in the second quarter. FMR LLC now owns 8,745,550 shares of the utilities provider’s stock valued at $256,070,000 after buying an additional 4,150,082 shares in the last quarter. Jennison Associates LLC acquired a new position in Great Plains Energy during the second quarter valued at $104,441,000. Commonwealth Bank of Australia acquired a new position in Great Plains Energy during the second quarter valued at $53,387,000. Boston Partners boosted its position in Great Plains Energy by 33.5% in the first quarter. Boston Partners now owns 6,790,947 shares of the utilities provider’s stock valued at $198,431,000 after buying an additional 1,705,973 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Great Plains Energy by 96.3% in the second quarter. Principal Financial Group Inc. now owns 3,476,540 shares of the utilities provider’s stock valued at $101,793,000 after buying an additional 1,705,459 shares in the last quarter. Hedge funds and other institutional investors own 87.70% of the company’s stock.
About Great Plains Energy
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.
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