Great Plains Energy Inc. (GXP) Upgraded to Outperform by Wolfe Research
Several other research firms have also recently commented on GXP. JPMorgan Chase & Co. upped their target price on shares of Great Plains Energy from $31.00 to $32.00 and gave the stock a neutral rating in a research report on Friday, July 15th. Zacks Investment Research upgraded shares of Great Plains Energy from a hold rating to a buy rating and set a $33.00 price objective for the company in a report on Tuesday, August 2nd. Barclays PLC upgraded shares of Great Plains Energy from an underweight rating to an equal weight rating and decreased their price objective for the company from $31.00 to $29.00 in a report on Thursday, September 29th. SunTrust Banks Inc. increased their price objective on shares of Great Plains Energy from $29.00 to $30.00 and gave the company a neutral rating in a report on Monday, September 26th. Finally, Argus reiterated a buy rating and issued a $36.00 price objective on shares of Great Plains Energy in a report on Friday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $31.29.
Shares of Great Plains Energy (NYSE:GXP) traded down 1.10% on Monday, hitting $26.95. The company had a trading volume of 646,071 shares. Great Plains Energy has a 12 month low of $25.44 and a 12 month high of $32.74. The stock has a market cap of $4.16 billion, a PE ratio of 20.16 and a beta of 0.45. The company has a 50-day moving average of $27.50 and a 200 day moving average of $29.78.
Great Plains Energy (NYSE:GXP) last posted its earnings results on Thursday, August 4th. The company reported $0.55 EPS for the quarter, topping the 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 period in the previous year, the business posted $0.28 earnings per share. Analysts anticipate that Great Plains Energy will post $1.72 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Monday, August 29th were given a $0.2625 dividend. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $1.05 dividend on an annualized basis and a yield of 3.85%. Great Plains Energy’s payout ratio is 78.36%.
A number of large investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its stake in Great Plains Energy by 27.1% in the second quarter. Macquarie Group Ltd. now owns 45,500 shares of the company’s stock worth $1,383,000 after buying an additional 9,700 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake 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 worth $811,000 after buying an additional 73 shares during the last quarter. Mason Street Advisors LLC bought a new stake in Great Plains Energy during the second quarter worth about $2,141,000. IFP Advisors Inc increased its stake in Great Plains Energy by 0.6% in the second quarter. IFP Advisors Inc now owns 7,638 shares of the company’s stock worth $232,000 after buying an additional 44 shares during the last quarter. Finally, Lebenthal Holdings LLC bought a new stake in Great Plains Energy during the second quarter worth about $304,000. Institutional investors own 80.49% of the company’s stock.
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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