Great Plains Energy Inc (GXP) Sets New 1-Year High at $34.19
Shares of Great Plains Energy Inc (NYSE:GXP) hit a new 52-week high during trading on Wednesday . The stock traded as high as $34.19 and last traded at $34.14, with a volume of 859300 shares changing hands. The stock had previously closed at $33.99.
GXP has been the topic of several research analyst reports. Bank of America Corporation initiated coverage on Great Plains Energy in a report on Tuesday, October 24th. They issued a “buy” rating and a $35.00 price objective on the stock. BidaskClub raised Great Plains Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. KeyCorp reissued a “hold” rating on shares of Great Plains Energy in a report on Friday, September 1st. Zacks Investment Research lowered Great Plains Energy from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and issued a $30.00 price objective on shares of Great Plains Energy in a report on Wednesday, October 4th. Five analysts have rated the stock with a hold rating, five have assigned 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 $32.00.
The company has a quick ratio of 1.24, a current ratio of 1.44 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $7,362.69, a P/E ratio of 19.62, a PEG ratio of 3.51 and a beta of 0.47.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 29th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Monday, November 27th. Great Plains Energy’s dividend payout ratio is presently 550.03%.
In related news, SVP Heather A. Humphrey sold 3,500 shares of Great Plains Energy 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Terry D. Bassham sold 6,370 shares of Great Plains Energy stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $30.54, for a total value of $194,539.80. The disclosure for this sale can be found here. Insiders sold 27,391 shares of company stock worth $838,626 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Bank of Nova Scotia Trust Co. purchased a new position in Great Plains Energy during the third quarter worth approximately $109,000. Ffcm LLC lifted its position in 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 buying an additional 2,538 shares in the last quarter. Advisory Services Network LLC lifted its position in Great Plains Energy by 0.9% during the second quarter. Advisory Services Network LLC now owns 4,793 shares of the utilities provider’s stock worth $140,000 after buying an additional 45 shares in the last quarter. HL Financial Services LLC purchased a new position in Great Plains Energy during the third quarter worth approximately $205,000. Finally, CIBC Asset Management Inc purchased a new position in Great Plains Energy during the third quarter worth approximately $211,000. Hedge funds and other institutional investors own 90.72% of the company’s stock.
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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