Great Plains Energy Inc. (NYSE:GXP) has received an average rating of “Buy” from the eight research firms that are covering the stock. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $31.60.

GXP has been the topic of a number of research analyst reports. SunTrust Banks Inc. cut 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 research report on Monday, August 29th. Zacks Investment Research raised 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 research report on Tuesday, August 2nd. Barclays PLC raised shares of Great Plains Energy from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $31.00 to $29.00 in a research report on Thursday, September 29th. Wolfe Research raised shares of Great Plains Energy from a “market perform” rating to an “outperform” rating in a research report on Monday, October 3rd. Finally, Argus reissued a “buy” rating and set a $36.00 price objective on shares of Great Plains Energy in a research report on Friday, September 30th.

A number of institutional investors have recently made changes to their positions in GXP. Vanguard Group Inc. boosted its position 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 in the last quarter. BlackRock Fund Advisors boosted its position in Great Plains Energy by 20.5% in the third quarter. BlackRock Fund Advisors now owns 10,099,992 shares of the company’s stock valued at $275,629,000 after buying an additional 1,717,362 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Great Plains Energy by 24.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,782,071 shares of the company’s stock valued at $157,793,000 after buying an additional 1,149,431 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Great Plains Energy by 20.8% in the third quarter. Bank of New York Mellon Corp now owns 4,927,555 shares of the company’s stock valued at $134,473,000 after buying an additional 846,985 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Great Plains Energy by 3,307.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,875,395 shares of the company’s stock valued at $133,050,000 after buying an additional 4,732,295 shares in the last quarter. 66.95% of the stock is currently owned by institutional investors and hedge funds.

Great Plains Energy (NYSE:GXP) opened at 26.70 on Tuesday. The firm’s 50-day moving average price is $27.45 and its 200-day moving average price is $28.71. The firm has a market cap of $4.13 billion, a P/E ratio of 19.39 and a beta of 0.39. Great Plains Energy has a 12 month low of $25.57 and a 12 month high of $32.74.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Tuesday, November 29th will be given a $0.275 dividend. This is a boost from Great Plains Energy’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, November 25th. This represents a $1.10 annualized dividend and a yield of 4.12%. Great Plains Energy’s dividend payout ratio (DPR) is presently 76.09%.

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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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