Parametric Portfolio Associates LLC Increases Holdings in Great Plains Energy Inc (GXP)
Parametric Portfolio Associates LLC grew its position in Great Plains Energy Inc (NYSE:GXP) by 23.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 606,298 shares of the utilities provider’s stock after acquiring an additional 113,445 shares during the quarter. Parametric Portfolio Associates LLC owned 0.28% of Great Plains Energy worth $17,752,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in GXP. UBS Asset Management Americas Inc. lifted its position in shares of Great Plains Energy by 26.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 153,669 shares of the utilities provider’s stock worth $4,490,000 after acquiring an additional 32,093 shares during the period. Trexquant Investment LP bought a new stake in shares of Great Plains Energy in the 1st quarter worth approximately $269,000. Asset Management One Co. Ltd. bought a new stake in shares of Great Plains Energy in the 1st quarter worth approximately $1,860,000. AXA lifted its position in shares of Great Plains Energy by 81.7% in the 1st quarter. AXA now owns 64,500 shares of the utilities provider’s stock worth $1,885,000 after acquiring an additional 29,000 shares during the period. Finally, FMR LLC lifted its position in shares of Great Plains Energy by 6.4% in the 1st quarter. FMR LLC now owns 4,595,468 shares of the utilities provider’s stock worth $134,280,000 after acquiring an additional 275,161 shares during the period. Institutional investors own 87.90% of the company’s stock.
Great Plains Energy Inc (NYSE:GXP) opened at 30.71 on Friday. The firm has a market capitalization of $6.62 billion, a PE ratio of 36.43 and a beta of 0.44. The stock has a 50 day moving average price of $30.76 and a 200-day moving average price of $29.81. Great Plains Energy Inc has a one year low of $25.85 and a one year high of $31.69.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.04). The company had revenue of $682.60 million during 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 last year, the firm posted $0.55 earnings per share. On average, equities analysts forecast that Great Plains Energy Inc will post $1.60 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Tuesday, August 29th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Friday, August 25th. Great Plains Energy’s dividend payout ratio (DPR) is currently 105.77%.
In other Great Plains Energy news, SVP Heather A. Humphrey sold 3,500 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $30.86, for a total transaction of $108,010.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin E. Bryant sold 9,853 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $30.64, for a total value of $301,895.92. Following the sale, the chief financial officer now owns 38,003 shares of the company’s stock, valued at $1,164,411.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,391 shares of company stock valued at $838,626. 0.41% of the stock is currently owned by corporate insiders.
A number of brokerages have commented on GXP. BidaskClub upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research cut Great Plains Energy from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. KeyCorp reissued a “hold” rating on shares of Great Plains Energy in a report on Friday, September 1st. SunTrust Banks, Inc. reissued a “hold” rating and issued a $30.00 target price on shares of Great Plains Energy in a report on Wednesday. Finally, Wells Fargo & Company raised Great Plains Energy from a “market perform” rating to an “outperform” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $30.86.
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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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