Great Plains Energy Inc (GXP) Shares Sold by Financial Counselors Inc.
Financial Counselors Inc. reduced its position in shares of Great Plains Energy Inc (NYSE:GXP) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,586 shares of the utilities provider’s stock after selling 1,810 shares during the period. Financial Counselors Inc. owned approximately 0.05% of Great Plains Energy worth $3,414,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in GXP. Jennison Associates LLC acquired a new position in Great Plains Energy during the second quarter valued at approximately $104,441,000. Commonwealth Bank of Australia bought a new stake in shares of Great Plains Energy during the second quarter worth $53,387,000. Principal Financial Group Inc. grew its stake in shares of Great Plains Energy by 96.3% during 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. MARSHALL WACE ASIA Ltd bought a new stake in shares of Great Plains Energy during the first quarter worth $31,166,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of Great Plains Energy during the first quarter worth $31,166,000. Institutional investors and hedge funds own 88.63% of the company’s stock.
Shares of Great Plains Energy Inc (NYSE:GXP) traded up 0.26% during mid-day trading on Friday, hitting $30.74. 1,327,504 shares of the company traded hands. The firm’s 50 day moving average price is $30.98 and its 200-day moving average price is $29.56. Great Plains Energy Inc has a 1-year low of $25.85 and a 1-year high of $31.69. The stock has a market capitalization of $6.62 billion, a PE ratio of 36.47 and a beta of 0.45.
Great Plains Energy (NYSE:GXP) last posted its quarterly earnings data 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 company 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 last year, the business posted $0.55 EPS. On average, equities research analysts forecast that Great Plains Energy Inc will post $1.59 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Tuesday, August 29th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Friday, August 25th. Great Plains Energy’s payout ratio is presently 105.77%.
A number of analysts have weighed in on the stock. J P Morgan Chase & Co raised shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $31.00 to $32.00 in a research note on Tuesday, July 11th. BidaskClub raised shares of Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Zacks Investment Research raised shares of Great Plains Energy from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Great Plains Energy in a research note on Friday, September 1st. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $31.56.
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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