Korea Electric Power (NYSE:KEP) Reaches New 52-Week Low – Here’s Why

Korea Electric Power Corporation (NYSE:KEP) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $11.13 and last traded at $11.1350, with a volume of 889292 shares. The stock had previously closed at $11.44.

Analysts Set New Price Targets

A number of research analysts have weighed in on KEP shares. Morgan Stanley downgraded Korea Electric Power from an “equal weight” rating to an “underweight” rating in a report on Tuesday, May 19th. Nomura lowered Korea Electric Power from a “buy” rating to a “neutral” rating in a research report on Thursday, August 13th. Zacks Research cut Korea Electric Power from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. Finally, Weiss Ratings cut shares of Korea Electric Power from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Korea Electric Power Stock Down 2.1%

The company has a quick ratio of 0.29, a current ratio of 0.43 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $14.38 billion, a PE ratio of 2.34, a price-to-earnings-growth ratio of 2.21 and a beta of 0.95. The company’s fifty day moving average price is $11.85 and its 200-day moving average price is $13.51.

Korea Electric Power (NYSE:KEP) last posted its quarterly earnings data on Wednesday, August 12th. The utilities provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.18). The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $15.31 billion. Korea Electric Power had a net margin of 8.95% and a return on equity of 18.25%. Analysts forecast that Korea Electric Power Corporation will post 2.56 earnings per share for the current year.

Hedge Funds Weigh In On Korea Electric Power

Several large investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC grew its position in Korea Electric Power by 102.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 136,803 shares of the utilities provider’s stock valued at $1,655,000 after purchasing an additional 69,166 shares during the last quarter. Engineers Gate Manager LP raised its holdings in Korea Electric Power by 166.5% in the second quarter. Engineers Gate Manager LP now owns 105,619 shares of the utilities provider’s stock worth $1,278,000 after buying an additional 65,994 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Korea Electric Power by 18.6% in the second quarter. NewEdge Advisors LLC now owns 45,674 shares of the utilities provider’s stock worth $553,000 after buying an additional 7,150 shares in the last quarter. Nykredit A S bought a new position in shares of Korea Electric Power in the second quarter worth approximately $121,000. Finally, Corient Private Wealth LP grew its holdings in shares of Korea Electric Power by 54.2% during the second quarter. Corient Private Wealth LP now owns 265,049 shares of the utilities provider’s stock valued at $3,207,000 after buying an additional 93,194 shares during the last quarter.

About Korea Electric Power

Korea Electric Power Corporation (KEPCO) is South Korea’s state-owned, integrated electric utility. The company is responsible for the transmission and distribution of electricity throughout South Korea and supplies power to residential, commercial and industrial customers.

KEPCO’s business includes electricity generation through affiliated companies, power transmission and distribution, and related energy services. Its generation-related subsidiaries include Korea Hydro & Nuclear Power, which operates nuclear and hydroelectric facilities, as well as several companies focused on thermal and renewable power generation.

Founded in 1961, KEPCO has also pursued international projects involving power generation, transmission, renewable energy and other energy infrastructure.