SunTrust Banks Equities Analysts Cut Earnings Estimates for Great Plains Energy Inc. (GXP)
Great Plains Energy Inc. (NYSE:GXP) – Analysts at SunTrust Banks dropped their Q3 2017 earnings estimates for Great Plains Energy in a report released on Thursday. SunTrust Banks analyst A. Agha now anticipates that the brokerage will earn $0.86 per share for the quarter, down from their prior forecast of $0.90. SunTrust Banks currently has a “Neutral” rating and a $30.00 target price on the stock. SunTrust Banks also issued estimates for Great Plains Energy’s FY2017 earnings at $1.73 EPS, Q1 2018 earnings at $0.17 EPS and FY2018 earnings at $1.75 EPS.
Great Plains Energy (NYSE:GXP) last released its earnings results on Thursday, August 4th. The company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.16. Great Plains Energy had a return on equity of 7.16% and a net margin of 8.03%. During the same quarter in the previous year, the firm posted $0.28 EPS.
Other equities analysts have also issued research reports about the company. Argus reaffirmed a “buy” rating and set a $36.00 price target on shares of Great Plains Energy in a research note on Friday. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Great Plains Energy in a research note on Tuesday, July 19th. Zacks Investment Research raised Great Plains Energy from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Tuesday, August 2nd. Finally, Barclays PLC raised Great Plains Energy from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $31.00 to $29.00 in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $30.71.
Great Plains Energy (NYSE:GXP) opened at 27.29 on Friday. The stock has a market cap of $4.22 billion, a PE ratio of 20.41 and a beta of 0.43. The firm’s 50-day moving average price is $27.53 and its 200 day moving average price is $29.83. Great Plains Energy has a 1-year low of $25.44 and a 1-year high of $32.74.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Monday, August 29th were paid a $0.2625 dividend. This represents a $1.05 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Thursday, August 25th. Great Plains Energy’s payout ratio is 78.36%.
Institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. raised its position in Great Plains Energy by 27.1% in the second quarter. Macquarie Group Ltd. now owns 45,500 shares of the company’s stock valued at $1,383,000 after buying an additional 9,700 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in Great Plains Energy by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 26,666 shares of the company’s stock valued at $811,000 after buying an additional 73 shares during the last quarter. Mason Street Advisors LLC bought a new position in Great Plains Energy during the second quarter valued at $2,141,000. IFP Advisors Inc raised its position in Great Plains Energy by 0.6% in the second quarter. IFP Advisors Inc now owns 7,638 shares of the company’s stock valued at $232,000 after buying an additional 44 shares during the last quarter. Finally, Lebenthal Holdings LLC bought a new position in Great Plains Energy during the second quarter valued at $304,000. 80.49% of the stock is currently owned by hedge funds and other institutional investors.
Great Plains Energy Company Profile
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).
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