Barclays PLC Reiterates Hold Rating for Great Plains Energy Inc. (GXP)
Great Plains Energy Inc. (NYSE:GXP)‘s stock had its “hold” rating reaffirmed by stock analysts at Barclays PLC in a research report issued on Thursday. They currently have a $29.00 target price on the stock. Barclays PLC’s target price would indicate a potential upside of 4.17% from the stock’s current price.
GXP has been the subject of several other research reports. SunTrust Banks Inc. raised their price objective on shares of Great Plains Energy from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday. Zacks Investment Research lowered shares of Great Plains Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Great Plains Energy from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, July 15th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.43.
Great Plains Energy (NYSE:GXP) opened at 27.84 on Thursday. The stock’s 50 day moving average price is $27.59 and its 200 day moving average price is $29.87. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 20.82 and a beta of 0.43. Great Plains Energy has a 12-month low of $25.44 and a 12-month high of $32.74.
Great Plains Energy (NYSE:GXP) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.16. Great Plains Energy had a net margin of 8.03% and a return on equity of 7.16%. During the same quarter last year, the business earned $0.28 earnings per share. On average, equities research analysts anticipate that Great Plains Energy will post $1.74 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Monday, August 29th were issued a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Thursday, August 25th. Great Plains Energy’s dividend payout ratio is currently 78.36%.
A number of institutional investors have recently made changes to their positions in GXP. Vanguard Group Inc. boosted its position in shares of Great Plains Energy by 14.8% in the second quarter. Vanguard Group Inc. now owns 13,136,467 shares of the company’s stock worth $399,348,000 after buying an additional 1,697,073 shares during the last quarter. Norges Bank acquired a new position in shares of Great Plains Energy during the fourth quarter worth about $38,605,000. Bank of New York Mellon Corp boosted its position in shares of Great Plains Energy by 34.1% in the second quarter. Bank of New York Mellon Corp now owns 4,080,570 shares of the company’s stock worth $124,049,000 after buying an additional 1,038,260 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Great Plains Energy during the second quarter worth about $28,397,000. Finally, Prudential Financial Inc. boosted its position in shares of Great Plains Energy by 962.8% in the second quarter. Prudential Financial Inc. now owns 971,802 shares of the company’s stock worth $29,543,000 after buying an additional 880,368 shares during the last quarter. 80.49% of the stock is currently owned by hedge funds and other institutional investors.
About Great Plains Energy
Great Plains Energy Incorporated is a public utility holding company. The Company operates through electric utility segment. The Company does not own or operate any assets other than the stock of its subsidiaries. The Company’s subsidiaries with operations include Kansas City Power & Light Company (KCP&L) and KCP&L Greater Missouri Operations Company (GMO).
Receive News & Stock Ratings for Great Plains Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Great Plains Energy Inc. and related stocks with our FREE daily email newsletter.