Korea Electric Power (NYSE:KEP) Releases Earnings Results, Beats Estimates By $0.06 EPS

Korea Electric Power (NYSE:KEP) released its earnings results on Tuesday, June 16th. The utilities provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.06, Zacks reports. Korea Electric Power had a net margin of 8.95% and a return on equity of 18.25%.

Korea Electric Power Stock Down 1.8%

NYSE:KEP traded down $0.24 during mid-day trading on Tuesday, hitting $12.51. The stock had a trading volume of 479,147 shares, compared to its average volume of 856,409. The stock has a 50-day simple moving average of $13.30 and a two-hundred day simple moving average of $16.28. The company has a market capitalization of $16.06 billion, a PE ratio of 2.61, a PEG ratio of 2.15 and a beta of 0.95. Korea Electric Power has a twelve month low of $11.78 and a twelve month high of $23.41. The company has a current ratio of 0.43, a quick ratio of 0.29 and a debt-to-equity ratio of 1.56.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KEP. Morgan Stanley lowered shares of Korea Electric Power from an “equal weight” rating to an “underweight” rating in a report on Tuesday, May 19th. Weiss Ratings lowered shares of Korea Electric Power from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Zacks Research raised shares of Korea Electric Power from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. Wall Street Zen lowered shares of Korea Electric Power from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Finally, Bank of America lowered shares of Korea Electric Power from a “buy” rating to a “neutral” rating in a report on Tuesday, March 31st. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Korea Electric Power has an average rating of “Reduce”.

Institutional Trading of Korea Electric Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in shares of Korea Electric Power by 47,424.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 375,442 shares of the utilities provider’s stock valued at $4,900,000 after acquiring an additional 374,652 shares during the period. Assetmark Inc. increased its holdings in shares of Korea Electric Power by 1,172,236.7% in the 3rd quarter. Assetmark Inc. now owns 351,701 shares of the utilities provider’s stock valued at $4,590,000 after acquiring an additional 351,671 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Korea Electric Power by 26.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,514,228 shares of the utilities provider’s stock valued at $19,761,000 after acquiring an additional 312,680 shares during the period. Jane Street Group LLC acquired a new position in shares of Korea Electric Power in the 2nd quarter valued at $3,448,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Korea Electric Power in the 3rd quarter valued at $2,821,000.

About Korea Electric Power

Korea Electric Power (KEP) is a South Korea–based integrated electric utility engaged in the generation, transmission and distribution of electricity. The company’s activities span power plant operation and maintenance, grid management, fuel procurement and power trading, as well as engineering, procurement and construction (EPC) services for large-scale power projects. Its asset base includes a mix of thermal, nuclear, hydro and renewable generation capacity, and the company supports system planning and reliability functions for the national electricity network.

In addition to core utility operations, KEP provides a range of technical and consulting services tied to power infrastructure, including plant construction, refurbishment and decommissioning support.