Oppenheimer & Co. Inc. Sells 136 Shares of Great Plains Energy Inc (GXP)
Oppenheimer & Co. Inc. lowered its position in shares of Great Plains Energy Inc (NYSE:GXP) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,830 shares of the utilities provider’s stock after selling 136 shares during the period. Oppenheimer & Co. Inc.’s holdings in Great Plains Energy were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. increased its stake in shares of Great Plains Energy by 17.9% during the first quarter. Nomura Asset Management Co. Ltd. now owns 3,420 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 520 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Great Plains Energy by 312.2% during the first quarter. Proficio Capital Partners LLC now owns 3,710 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 2,810 shares during the period. First Command Bank increased its stake in shares of Great Plains Energy by 100.0% during the second quarter. First Command Bank now owns 4,400 shares of the utilities provider’s stock worth $128,000 after purchasing an additional 2,200 shares during the period. Mckinley Capital Management LLC Delaware bought a new position in shares of Great Plains Energy during the first quarter worth approximately $141,000. Finally, V Wealth Management LLC bought a new position in shares of Great Plains Energy during the second quarter worth approximately $191,000. Institutional investors own 87.90% of the company’s stock.
Great Plains Energy Inc (NYSE GXP) opened at 30.84 on Monday. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 36.58 and a beta of 0.45. Great Plains Energy Inc has a 1-year low of $25.85 and a 1-year high of $31.69. The firm’s 50-day moving average price is $31.03 and its 200-day moving average price is $29.64.
Great Plains Energy (NYSE:GXP) last issued its earnings results on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share (EPS) 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 the consensus estimate of $677.00 million. During the same period in the previous year, the firm earned $0.55 EPS. Equities research analysts forecast that Great Plains Energy Inc will post $1.60 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Tuesday, August 29th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, August 25th. This represents a $1.10 dividend on an annualized basis and a yield of 3.57%. Great Plains Energy’s payout ratio is 105.77%.
GXP has been the topic of a number of recent research reports. Zacks Investment Research upgraded Great Plains Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. BidaskClub upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. KeyCorp reiterated a “hold” rating on shares of Great Plains Energy in a research note on Friday, September 1st. Finally, J P Morgan Chase & Co upgraded Great Plains Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $31.00 to $32.00 in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $31.56.
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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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