Great Plains Energy (GXP) Lifted to Buy at ValuEngine

Great Plains Energy (NYSE:GXP) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a report issued on Tuesday.

A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded Great Plains Energy from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Morgan Stanley raised Great Plains Energy to a “buy” rating and set a $26.00 target price on the stock in a report on Tuesday, February 13th. SunTrust Banks reaffirmed a “hold” rating and set a $30.00 target price on shares of Great Plains Energy in a report on Tuesday, March 6th. TheStreet downgraded Great Plains Energy from a “b-” rating to a “c” rating in a report on Thursday, February 22nd. Finally, JPMorgan Chase reduced their target price on Great Plains Energy from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Great Plains Energy presently has an average rating of “Buy” and a consensus target price of $31.83.

NYSE:GXP opened at $31.91 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.10 and a current ratio of 1.29. Great Plains Energy has a 52 week low of $27.60 and a 52 week high of $34.72. The company has a market cap of $6,765.42, a price-to-earnings ratio of 18.34, a PEG ratio of 4.31 and a beta of 0.33.

Great Plains Energy (NYSE:GXP) last released its earnings results on Wednesday, February 21st. The utilities provider reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. Great Plains Energy had a positive return on equity of 5.25% and a negative net margin of 3.92%. The company had revenue of $597.70 million for the quarter, compared to the consensus estimate of $606.26 million. During the same quarter last year, the business posted $0.13 EPS. research analysts forecast that Great Plains Energy will post 1.77 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its holdings in shares of Great Plains Energy by 0.5% in the 4th quarter. California State Teachers Retirement System now owns 368,124 shares of the utilities provider’s stock worth $11,868,000 after purchasing an additional 2,009 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Great Plains Energy by 25.4% in the 4th quarter. Advisor Group Inc. now owns 9,939 shares of the utilities provider’s stock worth $321,000 after purchasing an additional 2,015 shares during the last quarter. Advisory Services Network LLC lifted its holdings in shares of Great Plains Energy by 62.7% in the 4th quarter. Advisory Services Network LLC now owns 5,950 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 2,294 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Great Plains Energy by 5.9% in the 4th quarter. Amalgamated Bank now owns 43,557 shares of the utilities provider’s stock worth $1,404,000 after purchasing an additional 2,446 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Great Plains Energy by 38.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,472 shares of the utilities provider’s stock worth $402,000 after purchasing an additional 3,457 shares during the last quarter. 85.94% of the stock is currently owned by institutional investors and hedge funds.

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About Great Plains Energy

Great Plains Energy Incorporated, through its subsidiaries, generates, transmits, distributes, and sells electricity. It also provides regulated steam services in St. Joseph, Missouri. The company generates electricity using coal, nuclear, natural gas, oil, wind, solar, landfill gas, and hydroelectric resources.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Great Plains Energy (NYSE:GXP)

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