Korea Electric Power Corporation (NYSE:KEP – Get Free Report) shares hit a new 52-week low during trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $11.13 and last traded at $11.1350, with a volume of 889292 shares changing hands. The stock had previously closed at $11.44.
The utilities provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.89). The company had revenue of $14.60 billion for the quarter, compared to analysts’ expectations of $19.67 billion. Korea Electric Power had a return on equity of 15.70% and a net margin of 8.15%.
Analysts Set New Price Targets
KEP has been the subject of a number of recent research reports. Zacks Research downgraded Korea Electric Power from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 9th. Weiss Ratings downgraded shares of Korea Electric Power from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Finally, Nomura downgraded shares of Korea Electric Power from a “buy” rating to a “neutral” rating in a research note on Thursday, August 13th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.
Institutional Trading of Korea Electric Power
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. grew its position in shares of Korea Electric Power by 119.3% during the 1st quarter. Assetmark Inc. now owns 644,041 shares of the utilities provider’s stock valued at $9,178,000 after purchasing an additional 350,337 shares in the last quarter. Capital Wealth Planning LLC increased its holdings in shares of Korea Electric Power by 56.6% in the fourth quarter. Capital Wealth Planning LLC now owns 595,498 shares of the utilities provider’s stock worth $9,921,000 after purchasing an additional 215,150 shares during the period. Quantinno Capital Management LP raised its position in shares of Korea Electric Power by 48.1% in the first quarter. Quantinno Capital Management LP now owns 480,867 shares of the utilities provider’s stock worth $6,852,000 after buying an additional 156,227 shares in the last quarter. Corient Private Wealth LP raised its position in shares of Korea Electric Power by 54.2% in the second quarter. Corient Private Wealth LP now owns 265,049 shares of the utilities provider’s stock worth $3,207,000 after buying an additional 93,194 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Korea Electric Power by 617.5% during the first quarter. Bank of America Corp DE now owns 249,280 shares of the utilities provider’s stock valued at $3,552,000 after buying an additional 214,535 shares during the period.
Korea Electric Power Stock Up 1.0%
The company has a 50 day moving average of $11.81 and a 200-day moving average of $13.38. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.44 and a quick ratio of 0.29. The company has a market cap of $14.55 billion, a P/E ratio of 2.64, a price-to-earnings-growth ratio of 2.14 and a beta of 0.95.
Korea Electric Power Company Profile
Korea Electric Power Corporation (KEPCO) is South Korea’s state-owned, integrated electric utility. The company is responsible for the transmission and distribution of electricity throughout South Korea and supplies power to residential, commercial and industrial customers.
KEPCO’s business includes electricity generation through affiliated companies, power transmission and distribution, and related energy services. Its generation-related subsidiaries include Korea Hydro & Nuclear Power, which operates nuclear and hydroelectric facilities, as well as several companies focused on thermal and renewable power generation.
Founded in 1961, KEPCO has also pursued international projects involving power generation, transmission, renewable energy and other energy infrastructure.
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