12,097 Shares in Great Plains Energy Inc (GXP) Acquired by Highbridge Capital Management LLC
Highbridge Capital Management LLC purchased a new position in Great Plains Energy Inc (NYSE:GXP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,097 shares of the utilities provider’s stock, valued at approximately $353,000.
Other large investors have also recently bought and sold shares of the company. Capstone Asset Management Co. raised its stake in Great Plains Energy by 1.8% in the first quarter. Capstone Asset Management Co. now owns 19,492 shares of the utilities provider’s stock worth $570,000 after buying an additional 350 shares during the period. Shell Asset Management Co. purchased a new stake in shares of Great Plains Energy during the first quarter worth approximately $1,092,000. Macquarie Group Ltd. increased its stake in shares of Great Plains Energy by 63.3% in the fourth quarter. Macquarie Group Ltd. now owns 73,500 shares of the utilities provider’s stock worth $2,010,000 after buying an additional 28,500 shares in the last quarter. Morgan Stanley increased its stake in shares of Great Plains Energy by 45.7% in the first quarter. Morgan Stanley now owns 1,661,567 shares of the utilities provider’s stock worth $48,553,000 after buying an additional 521,501 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Great Plains Energy during the first quarter worth approximately $2,251,000. 87.97% of the stock is owned by institutional investors.
Great Plains Energy Inc (NYSE GXP) traded up 0.52% during mid-day trading on Thursday, reaching $31.07. The company had a trading volume of 2,478,533 shares. The stock has a 50 day moving average price of $29.87 and a 200 day moving average price of $28.88. Great Plains Energy Inc has a one year low of $25.85 and a one year high of $31.12. The company has a market capitalization of $6.70 billion, a P/E ratio of 23.36 and a beta of 0.44.
Great Plains Energy (NYSE:GXP) last released its quarterly earnings results on Thursday, May 4th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Great Plains Energy had a return on equity of 6.52% and a net margin of 9.50%. The company had revenue of $570.70 million during the quarter, compared to analysts’ expectations of $584.92 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. On average, equities analysts expect that Great Plains Energy Inc will post $1.66 earnings per share for the current fiscal year.
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Several equities analysts recently commented on the company. Zacks Investment Research upgraded Great Plains Energy from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Tuesday, July 25th. J P Morgan Chase & Co upgraded Great Plains Energy from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $31.00 to $32.00 in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded Great Plains Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $31.56.
About Great Plains Energy
Great Plains Energy Incorporated (Great Plains Energy) is a utility holding company. The Company operates through electric utility segment. The Company’s subsidiaries with operations include Kansas City Power & Light Company (KCP&L) and KCP&L Greater Missouri Operations Company (GMO). KCP&L is an integrated, regulated electric utility that provides electricity to customers primarily in the states of Missouri and Kansas.
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