Great Plains Energy Inc (NYSE:GXP) reached a new 52-week high on Tuesday . The company traded as high as $33.99 and last traded at $33.65, with a volume of 1099900 shares trading hands. The stock had previously closed at $33.16.
A number of equities research analysts recently weighed in on GXP shares. BidaskClub raised Great Plains Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Bank of America Corporation started coverage on Great Plains Energy in a report on Tuesday, October 24th. They set a “buy” rating and a $35.00 price target for the company. Zacks Investment Research raised Great Plains Energy from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Tuesday, July 25th. KeyCorp reaffirmed a “hold” rating on shares of Great Plains Energy in a report on Friday, September 1st. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $30.00 price target on shares of Great Plains Energy in a report on Wednesday, October 4th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Great Plains Energy currently has an average rating of “Buy” and an average target price of $32.00.
The company has a market cap of $7,151.34, a P/E ratio of 19.06, a P/E/G ratio of 3.41 and a beta of 0.47. The company has a current ratio of 1.44, a quick ratio of 1.24 and a debt-to-equity ratio of 0.65.
Great Plains Energy (NYSE:GXP) last released its earnings results on Wednesday, November 1st. The utilities provider reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.09. The company had revenue of $857.20 million during the quarter, compared to analysts’ expectations of $805.72 million. Great Plains Energy had a return on equity of 5.41% and a net margin of 3.42%. During the same period last year, the firm earned $1.00 EPS. analysts predict that Great Plains Energy Inc will post 1.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 29th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Monday, November 27th. This represents a $1.10 annualized dividend and a dividend yield of 3.27%. Great Plains Energy’s dividend payout ratio (DPR) is currently 550.03%.
In related news, insider Terry D. Bassham sold 6,370 shares of Great Plains Energy stock in a transaction on Monday, September 18th. The stock was sold at an average price of $30.54, for a total transaction of $194,539.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Heather A. Humphrey sold 3,500 shares of Great Plains Energy stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $30.86, for a total value of $108,010.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,391 shares of company stock valued at $838,626. 0.41% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. grew its stake in shares of Great Plains Energy by 17.9% during the first quarter. Nomura Asset Management Co. Ltd. now owns 3,420 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 520 shares during the period. Ffcm LLC grew its stake in shares of Great Plains Energy by 171.5% during the second quarter. Ffcm LLC now owns 4,018 shares of the utilities provider’s stock worth $118,000 after purchasing an additional 2,538 shares during the period. Advisory Services Network LLC grew its stake in shares of Great Plains Energy by 0.9% during the second quarter. Advisory Services Network LLC now owns 4,793 shares of the utilities provider’s stock worth $140,000 after purchasing an additional 45 shares during the period. V Wealth Management LLC acquired a new stake in shares of Great Plains Energy during the second quarter worth $191,000. Finally, HL Financial Services LLC acquired a new stake in shares of Great Plains Energy during the third quarter worth $205,000. 87.80% of the stock is owned by institutional investors and hedge funds.
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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.
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