PNC Financial Services Group Inc. increased its holdings in shares of Great Plains Energy Inc (NYSE:GXP) by 0.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 19,293 shares of the utilities provider’s stock after purchasing an additional 57 shares during the period. PNC Financial Services Group Inc.’s holdings in Great Plains Energy were worth $566,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its position in shares of Great Plains Energy by 9.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 260,571 shares of the utilities provider’s stock worth $7,630,000 after purchasing an additional 22,120 shares during the last quarter. Virginia Retirement Systems ET AL lifted its position in shares of Great Plains Energy by 24.7% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 73,600 shares of the utilities provider’s stock worth $2,155,000 after purchasing an additional 14,600 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Great Plains Energy by 3.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 56,200 shares of the utilities provider’s stock worth $1,646,000 after purchasing an additional 1,800 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Great Plains Energy during the 1st quarter worth about $353,000. Finally, Morgan Stanley lifted its position in shares of Great Plains Energy by 45.7% during the 1st quarter. Morgan Stanley now owns 1,661,567 shares of the utilities provider’s stock worth $48,553,000 after purchasing an additional 521,501 shares during the last quarter. 87.90% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have commented on GXP shares. Zacks Investment Research cut Great Plains Energy from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. BidaskClub raised Great Plains Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $30.00 price target on shares of Great Plains Energy in a report on Wednesday, October 4th. KeyCorp reaffirmed a “hold” rating on shares of Great Plains Energy in a report on Friday, September 1st. Finally, J P Morgan Chase & Co set a $35.00 price target on Great Plains Energy and gave the company a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $31.43.

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In other Great Plains Energy news, VP Lori A. Wright sold 7,668 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $30.54, for a total transaction of $234,180.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin E. Bryant sold 9,853 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $30.64, for a total transaction of $301,895.92. Following the transaction, 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 90 days, insiders have sold 27,391 shares of company stock valued at $838,626. Company insiders own 0.41% of the company’s stock.

Shares of Great Plains Energy Inc (GXP) opened at 31.79 on Friday. Great Plains Energy Inc has a 1-year low of $25.85 and a 1-year high of $32.09. The stock has a 50 day moving average price of $30.78 and a 200 day moving average price of $29.93. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 37.71 and a beta of 0.44.

Great Plains Energy (NYSE:GXP) last released its quarterly earnings results 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). 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 during the quarter, compared to analyst estimates of $677.00 million. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Analysts forecast that Great Plains Energy Inc will post $1.60 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Tuesday, August 29th were given 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 3.46%. Great Plains Energy’s dividend payout ratio is currently 105.77%.

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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Institutional Ownership by Quarter for Great Plains Energy (NYSE:GXP)

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