Equities Analysts Offer Predictions for Great Plains Energy Inc.’s Q2 2017 Earnings (GXP)
Great Plains Energy Inc. (NYSE:GXP) – Equities research analysts at SunTrust Banks dropped their Q2 2017 EPS estimates for shares of Great Plains Energy in a note issued to investors on Thursday. SunTrust Banks analyst A. Agha now forecasts that the brokerage will post earnings of $0.54 per share for the quarter, down from their previous estimate of $0.57. 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 Q2 2018 earnings at $0.55 EPS.
Great Plains Energy (NYSE:GXP) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company posted $0.28 EPS.
A number of other research analysts have also recently weighed in on the company. Bank of America Corp. upgraded Great Plains Energy from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Monday. Zacks Investment Research cut Great Plains Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Argus reiterated a “buy” rating and issued a $36.00 target price on shares of Great Plains Energy in a report on Friday, September 30th. Wolfe Research upgraded Great Plains Energy from a “market perform” rating to an “outperform” rating in a report on Monday. Finally, Barclays PLC upgraded Great Plains Energy from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $31.00 to $29.00 in a report on Thursday, September 29th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $31.29.
Shares of Great Plains Energy (NYSE:GXP) opened at 26.58 on Monday. The firm has a market capitalization of $4.11 billion, a PE ratio of 19.88 and a beta of 0.45. The company has a 50 day moving average price of $27.46 and a 200-day moving average price of $29.74. Great Plains Energy has a 12 month low of $25.44 and a 12 month high of $32.74.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Monday, August 29th were given a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Thursday, August 25th. Great Plains Energy’s payout ratio is 78.36%.
Hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Great Plains Energy during the fourth quarter worth about $38,605,000. Acadian Asset Management LLC acquired a new stake in shares of Great Plains Energy during the first quarter worth about $386,000. Aperio Group LLC raised its stake in shares of Great Plains Energy by 9.2% in the first quarter. Aperio Group LLC now owns 69,531 shares of the company’s stock worth $2,242,000 after buying an additional 5,833 shares during the last quarter. Virginia Retirement System acquired a new stake in shares of Great Plains Energy during the first quarter worth about $1,248,000. Finally, IFP Advisors Inc raised its stake in shares of Great Plains Energy by 16.4% in the first quarter. IFP Advisors Inc now owns 7,594 shares of the company’s stock worth $245,000 after buying an additional 1,069 shares during the last quarter. 80.49% of the stock is currently owned by institutional investors and hedge funds.
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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