Great Plains Energy Inc (GXP) Given “Hold” Rating at SunTrust Banks, Inc.
SunTrust Banks, Inc. reissued their hold rating on shares of Great Plains Energy Inc (NYSE:GXP) in a report published on Wednesday morning. They currently have a $30.00 target price on the utilities provider’s stock.
Other equities research analysts have also recently issued reports about the stock. BidaskClub raised shares of Great Plains Energy from a hold rating to a buy rating in a research report on Tuesday, August 8th. Zacks Investment Research raised shares of Great Plains Energy from a hold rating to a buy rating and set a $34.00 price target for the company in a research report on Tuesday, July 25th. KeyCorp reissued a hold rating on shares of Great Plains Energy in a research report on Friday, September 1st. Wells Fargo & Company raised shares of Great Plains Energy from a market perform rating to an outperform rating in a research report on Monday, October 2nd. Finally, J P Morgan Chase & Co raised shares of Great Plains Energy from a neutral rating to an overweight rating and lifted their price target for the company from $31.00 to $32.00 in a research report on Tuesday, July 11th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $30.86.
Great Plains Energy (NYSE GXP) traded up 0.20% during midday trading on Wednesday, reaching $30.77. 1,759,498 shares of the company’s stock traded hands. Great Plains Energy has a 52-week low of $25.85 and a 52-week high of $31.69. The company’s 50-day moving average price is $30.75 and its 200-day moving average price is $29.82. The stock has a market cap of $6.63 billion, a P/E ratio of 36.50 and a beta of 0.44.
Great Plains Energy (NYSE:GXP) last posted its earnings results on Wednesday, August 9th. The utilities provider reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.04). Great Plains Energy had a return on equity of 5.62% and a net margin of 8.00%. The company had revenue of $682.60 million during the quarter, compared to analysts’ expectations of $677.00 million. During the same period in the prior year, the business posted $0.55 earnings per share. On average, equities analysts predict that Great Plains Energy will post $1.60 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Tuesday, August 29th were given a dividend of $0.275 per share. The ex-dividend date was Friday, August 25th. This represents a $1.10 dividend on an annualized basis and a yield of 3.57%. 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 firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $30.86, for a total transaction of $108,010.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin E. Bryant sold 9,853 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $30.64, for a total transaction 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 three months, insiders have 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 large investors have recently added to or reduced their stakes in GXP. Nomura Asset Management Co. Ltd. increased its stake in Great Plains Energy by 17.9% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 3,420 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 520 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Great Plains Energy by 312.2% during the 1st quarter. Proficio Capital Partners LLC now owns 3,710 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 2,810 shares in the last quarter. Ffcm LLC increased its stake in Great Plains Energy by 171.5% during the 2nd quarter. Ffcm LLC now owns 4,018 shares of the utilities provider’s stock valued at $118,000 after purchasing an additional 2,538 shares in the last quarter. First Command Bank increased its stake in Great Plains Energy by 100.0% during the 2nd quarter. First Command Bank now owns 4,400 shares of the utilities provider’s stock valued at $128,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Advisory Services Network LLC increased its stake in Great Plains Energy by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 4,793 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 87.90% of the company’s stock.
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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