Great Plains Energy Inc (GXP) Receives “Hold” Rating from KeyCorp
A number of other research analysts also recently commented on the company. BidaskClub upgraded Great Plains Energy from a buy rating to a strong-buy rating in a research note on Saturday, August 26th. 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 target price for the company from $31.00 to $32.00 in a research note on Tuesday, July 11th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $31.56.
Great Plains Energy (NYSE GXP) opened at 30.75 on Friday. The stock has a 50 day moving average price of $30.86 and a 200-day moving average price of $29.49. Great Plains Energy has a 12-month low of $25.85 and a 12-month high of $31.69. The stock has a market capitalization of $6.62 billion, a P/E ratio of 36.48 and a beta of 0.45.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by $0.04. Great Plains Energy had a net margin of 8.00% and a return on equity of 5.62%. The business had revenue of $682.60 million for the quarter, compared to analysts’ expectations of $677 million. During the same quarter in the prior year, the firm posted $0.55 EPS. Equities research analysts expect that Great Plains Energy will post $1.59 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Tuesday, August 29th will be given 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 3.58%. Great Plains Energy’s dividend payout ratio is currently 105.77%.
Several large investors have recently made changes to their positions in GXP. FMR LLC lifted its position in shares of Great Plains Energy by 90.3% in the second quarter. FMR LLC now owns 8,745,550 shares of the utilities provider’s stock worth $256,070,000 after buying an additional 4,150,082 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Great Plains Energy in the second quarter worth about $116,876,000. Jennison Associates LLC acquired a new stake in shares of Great Plains Energy in the second quarter worth about $104,441,000. Commonwealth Bank of Australia acquired a new stake in shares of Great Plains Energy in the second quarter worth about $53,387,000. Finally, Principal Financial Group Inc. lifted its position in shares of Great Plains Energy by 96.3% in the second quarter. Principal Financial Group Inc. now owns 3,476,540 shares of the utilities provider’s stock worth $101,793,000 after buying an additional 1,705,459 shares during the last quarter. 88.63% of the stock is owned by institutional investors.
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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