Zacks Investment Research downgraded shares of Great Plains Energy Inc. (NYSE:GXP) from a hold rating to a sell rating in a report released on Tuesday morning.

According to Zacks, “Great Plains Energy Incorporated engages in the generation, transmission, distribution and sale of electricity to customers located in all or portions of numerous counties in western Missouri and eastern Kansas. Customers include residences, commercial firms, and industrials, municipalities and other electric utilities. “

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Great Plains Energy in a research note on Tuesday, July 19th. SunTrust Banks Inc. decreased their target price on shares of Great Plains Energy from $30.00 to $29.00 and set a neutral rating on the stock in a research note on Monday, August 29th. Barclays PLC raised shares of Great Plains Energy from an underweight rating to an equal weight rating and decreased their target price for the stock from $31.00 to $29.00 in a research note on Thursday, September 29th. Wolfe Research raised shares of Great Plains Energy from a market perform rating to an outperform rating in a research note on Monday, October 3rd. Finally, Argus reaffirmed a buy rating and set a $36.00 target price on shares of Great Plains Energy in a research note on Friday, September 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Great Plains Energy currently has an average rating of Hold and a consensus price target of $31.29.

Shares of Great Plains Energy (NYSE:GXP) opened at 26.74 on Tuesday. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 20.00 and a beta of 0.45. The stock has a 50 day moving average price of $27.25 and a 200 day moving average price of $29.59. Great Plains Energy has a 1-year low of $25.44 and a 1-year high of $32.74.

Great Plains Energy (NYSE:GXP) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.55 EPS for the quarter, beating 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 quarter in the prior year, the company earned $0.28 earnings per share. Analysts forecast that Great Plains Energy will post $1.73 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Monday, August 29th were given a dividend of $0.2625 per share. 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 3.93%. Great Plains Energy’s dividend payout ratio (DPR) is currently 78.36%.

Hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. boosted its stake in shares of 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 period. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of 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 period. Mason Street Advisors LLC purchased a new stake in shares of Great Plains Energy during the second quarter worth approximately $2,141,000. IFP Advisors Inc boosted its stake in shares of 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 period. Finally, Lebenthal Holdings LLC purchased a new stake in shares of Great Plains Energy during the second quarter worth approximately $304,000. 60.06% of the stock is currently owned by institutional investors and hedge funds.

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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