Great Plains Energy’s (GXP) Buy Rating Reaffirmed at Argus
GXP has been the topic of several other research reports. JPMorgan Chase & Co. upped 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. SunTrust Banks Inc. lowered their price objective on shares of Great Plains Energy from $30.00 to $29.00 and set a neutral rating on the stock in a report on Monday, August 29th. Barclays PLC upgraded shares of Great Plains Energy from an underweight rating to an equal weight rating and lowered their price objective for the stock from $31.00 to $29.00 in a report on Thursday. Finally, Zacks Investment Research upgraded shares of Great Plains Energy from a hold rating to a buy rating and set a $33.00 price objective on the stock in a report on Tuesday, August 2nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $31.29.
Shares of Great Plains Energy (NYSE:GXP) traded down 0.29% on Friday, hitting $27.21. 1,817,721 shares of the stock were exchanged. Great Plains Energy has a 1-year low of $25.44 and a 1-year high of $32.74. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 20.35 and a beta of 0.45. The stock’s 50-day moving average is $27.53 and its 200-day moving average is $29.83.
Great Plains Energy (NYSE:GXP) last released its earnings results on Thursday, August 4th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ 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 in the prior year, the firm posted $0.28 EPS. Analysts forecast that Great Plains Energy will post $1.72 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Monday, August 29th were paid a $0.2625 dividend. The ex-dividend date was Thursday, August 25th. This represents a $1.05 annualized dividend and a dividend yield of 3.85%. Great Plains Energy’s payout ratio is 78.36%.
Several hedge funds have recently bought and sold shares of GXP. Vanguard Group Inc. raised its stake in Great Plains Energy by 14.8% in the second quarter. Vanguard Group Inc. now owns 13,136,467 shares of the company’s stock valued at $399,348,000 after buying an additional 1,697,073 shares during the last quarter. Norges Bank bought a new position in Great Plains Energy during the fourth quarter valued at $38,605,000. Bank of New York Mellon Corp raised its position in 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 valued at $124,049,000 after buying an additional 1,038,260 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in Great Plains Energy during the second quarter valued at $28,397,000. Finally, Prudential Financial Inc. raised its position in Great Plains Energy by 962.8% in the second quarter. Prudential Financial Inc. now owns 971,802 shares of the company’s stock valued at $29,543,000 after buying an additional 880,368 shares during the last quarter. Hedge funds and other institutional investors own 80.49% of the company’s stock.
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).
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