Great Plains Energy Inc (GXP) Given Consensus Rating of “Buy” by Brokerages
Great Plains Energy Inc (NYSE:GXP) has earned a consensus recommendation of “Buy” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $31.25.
Several research firms have weighed in on GXP. BidaskClub upgraded Great Plains Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Investment Research downgraded Great Plains Energy from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, J P Morgan Chase & Co upgraded Great Plains Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $31.00 to $32.00 in a research note on Tuesday, July 11th.
Great Plains Energy (GXP) traded down 0.67% during midday trading on Tuesday, hitting $31.01. 773,702 shares of the stock were exchanged. Great Plains Energy has a 1-year low of $25.85 and a 1-year high of $31.69. The company has a market capitalization of $6.68 billion, a P/E ratio of 36.79 and a beta of 0.44. The company’s 50 day moving average is $30.73 and its 200 day moving average is $29.37.
Great Plains Energy (NYSE:GXP) last posted its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The firm had revenue of $682.60 million for the quarter, compared to analysts’ expectations of $677 million. Great Plains Energy had a net margin of 8.00% and a return on equity of 5.62%. During the same quarter in the previous year, the firm posted $0.55 EPS. Analysts predict that Great Plains Energy will post $1.59 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Tuesday, August 29th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, August 25th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.55%. Great Plains Energy’s payout ratio is 105.77%.
Hedge funds have recently modified their holdings of the company. Griffin Asset Management Inc. bought a new stake in shares of Great Plains Energy during the second quarter worth approximately $293,000. Lord Abbett & CO. LLC increased its stake in shares of Great Plains Energy by 2.5% in the second quarter. Lord Abbett & CO. LLC now owns 1,432,668 shares of the utilities provider’s stock worth $41,949,000 after buying an additional 34,475 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of Great Plains Energy by 0.9% in the second quarter. Advisory Services Network LLC now owns 4,793 shares of the utilities provider’s stock worth $140,000 after buying an additional 45 shares during the last quarter. Banco BTG Pactual S.A. increased its stake in shares of Great Plains Energy by 128.7% in the second quarter. Banco BTG Pactual S.A. now owns 252,000 shares of the utilities provider’s stock worth $7,379,000 after buying an additional 141,800 shares during the last quarter. Finally, Verition Fund Management LLC increased its stake in shares of Great Plains Energy by 24.7% in the second quarter. Verition Fund Management LLC now owns 571,611 shares of the utilities provider’s stock worth $16,737,000 after buying an additional 113,385 shares during the last quarter. Hedge funds and other institutional investors own 88.62% of the company’s stock.
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Great Plains Energy Company Profile
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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