Suntrust Banks Inc. lifted its holdings in Great Plains Energy Inc (NYSE:GXP) by 12.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 8,814 shares of the utilities provider’s stock after acquiring an additional 952 shares during the quarter. Suntrust Banks Inc.’s holdings in Great Plains Energy were worth $257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Great Plains Energy by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 19,489,178 shares of the utilities provider’s stock worth $569,474,000 after acquiring an additional 1,007,461 shares during the last quarter. FMR LLC lifted its holdings in shares of Great Plains Energy by 90.3% in the 2nd quarter. FMR LLC now owns 8,745,550 shares of the utilities provider’s stock worth $256,070,000 after acquiring an additional 4,150,082 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Great Plains Energy in the 2nd quarter worth approximately $104,441,000. Principal Financial Group Inc. lifted its holdings in shares of Great Plains Energy by 96.3% in the 2nd quarter. Principal Financial Group Inc. now owns 3,476,540 shares of the utilities provider’s stock worth $101,793,000 after acquiring an additional 1,705,459 shares during the last quarter. Finally, Marshall Wace North America L.P. lifted its holdings in shares of Great Plains Energy by 97.4% in the 2nd quarter. Marshall Wace North America L.P. now owns 2,121,534 shares of the utilities provider’s stock worth $61,525,000 after acquiring an additional 1,046,835 shares during the last quarter. Hedge funds and other institutional investors own 87.90% of the company’s stock.

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Shares of Great Plains Energy Inc (NYSE GXP) opened at 31.87 on Tuesday. The company’s 50-day moving average is $30.78 and its 200-day moving average is $29.94. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 37.81 and a beta of 0.44. Great Plains Energy Inc has a 12-month low of $25.85 and a 12-month high of $32.09.

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 analysts’ consensus estimates 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 return on equity of 5.62% and a net margin of 8.00%. During the same quarter in the prior year, the business earned $0.55 earnings per share. Analysts predict that Great Plains Energy Inc will post $1.74 EPS 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 given a $0.275 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $1.10 dividend on an annualized basis and a yield of 3.45%. Great Plains Energy’s dividend payout ratio is presently 105.77%.

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of Great Plains Energy from a “market perform” rating to an “outperform” rating in a report on Monday, October 2nd. J P Morgan Chase & Co upgraded shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $31.00 to $32.00 in a report on Tuesday, July 11th. BidaskClub upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Tuesday, July 25th. Finally, KeyCorp restated a “hold” rating on shares of Great Plains Energy in a report on Friday, September 1st. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $31.43.

In related news, VP Lori A. Wright sold 7,668 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $30.54, for a total value of $234,180.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Heather A. Humphrey sold 3,500 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $30.86, for a total value of $108,010.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,391 shares of company stock valued at $838,626. 0.41% of the stock is owned by corporate insiders.

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

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