Great Plains Energy Inc (GXP) Stake Lowered by Vanguard Group Inc.
Vanguard Group Inc. lessened its position in Great Plains Energy Inc (NYSE:GXP) by 4.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 18,661,122 shares of the utilities provider’s stock after selling 828,056 shares during the period. Vanguard Group Inc. owned approximately 8.65% of Great Plains Energy worth $546,398,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Great Plains Energy by 17.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 3,420 shares of the utilities provider’s stock valued at $100,000 after acquiring an additional 520 shares in the last quarter. 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 acquiring an additional 2,810 shares during the period. Ffcm LLC increased its stake in shares of Great Plains Energy by 171.5% during the second quarter. Ffcm LLC now owns 4,018 shares of the utilities provider’s stock worth $118,000 after acquiring an additional 2,538 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 acquiring an additional 2,200 shares during the period. Finally, V Wealth Management LLC acquired a new position in shares of Great Plains Energy during the second quarter worth about $191,000. Institutional investors own 87.90% of the company’s stock.
GXP has been the subject of a number of recent analyst reports. J P Morgan Chase & Co upgraded shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $31.00 to $32.00 in a research report on Tuesday, July 11th. Wells Fargo & Company upgraded Great Plains Energy from a “market perform” rating to an “outperform” rating in a research report on Monday. BidaskClub upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Zacks Investment Research downgraded Great Plains Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Finally, KeyCorp reissued a “hold” rating on shares of Great Plains Energy in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Great Plains Energy currently has an average rating of “Buy” and an average price target of $31.14.
In other Great Plains Energy news, VP Lori A. Wright sold 7,668 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $30.54, for a total transaction of $234,180.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Heather A. Humphrey sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $30.86, for a total transaction of $108,010.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,391 shares of company stock worth $838,626. 0.41% of the stock is owned by corporate insiders.
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Shares of Great Plains Energy Inc (NYSE GXP) opened at 30.69 on Tuesday. The company’s 50-day moving average is $30.82 and its 200-day moving average is $29.78. The stock has a market cap of $6.61 billion, a P/E ratio of 36.41 and a beta of 0.44. Great Plains Energy Inc has a 12-month low of $25.85 and a 12-month high of $31.69.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings data 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). The company had revenue of $682.60 million for the quarter, compared to the consensus estimate of $677.00 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 prior year, the firm earned $0.55 earnings per share. On average, analysts expect that Great Plains Energy Inc will post $1.60 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Tuesday, August 29th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, August 25th. This represents a $1.10 annualized dividend and a yield of 3.58%. Great Plains Energy’s payout ratio is 105.77%.
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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