Dimensional Fund Advisors LP Raises Position in Great Plains Energy Inc (GXP)
Dimensional Fund Advisors LP raised its stake in shares of Great Plains Energy Inc (NYSE:GXP) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 664,720 shares of the utilities provider’s stock after buying an additional 11,249 shares during the period. Dimensional Fund Advisors LP’s holdings in Great Plains Energy were worth $19,422,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Boston Partners raised its position in Great Plains Energy by 33.5% in the first quarter. Boston Partners now owns 6,790,947 shares of the utilities provider’s stock valued at $198,431,000 after buying an additional 1,705,973 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in Great Plains Energy during the first quarter valued at approximately $31,166,000. Marshall Wace North America L.P. acquired a new position in Great Plains Energy during the first quarter valued at approximately $31,166,000. Vanguard Group Inc. raised its position in Great Plains Energy by 5.5% in the first quarter. Vanguard Group Inc. now owns 19,489,178 shares of the utilities provider’s stock valued at $569,474,000 after buying an additional 1,007,461 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Great Plains Energy by 93.4% in the first quarter. Victory Capital Management Inc. now owns 920,668 shares of the utilities provider’s stock valued at $26,901,000 after buying an additional 444,546 shares during the last quarter. Hedge funds and other institutional investors own 87.70% of the company’s stock.
Great Plains Energy Inc (NYSE:GXP) traded down 0.93% during mid-day trading on Friday, hitting $30.89. 2,974,988 shares of the stock were exchanged. Great Plains Energy Inc has a 52 week low of $25.85 and a 52 week high of $31.69. The company has a 50 day moving average price of $30.21 and a 200 day moving average price of $29.07. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 36.64 and a beta of 0.44.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by $0.04. Great Plains Energy had a return on equity of 5.62% and a net margin of 8.00%. The business had revenue of $682.60 million for the quarter, compared to analyst estimates of $677 million. During the same quarter last year, the firm earned $0.55 earnings per share. Analysts expect that Great Plains Energy Inc will post $1.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Tuesday, August 29th will be paid a $0.275 dividend. The ex-dividend date is Friday, August 25th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.56%. Great Plains Energy’s payout ratio is 105.77%.
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Several research analysts recently commented on GXP shares. Zacks Investment Research lowered shares of Great Plains Energy from a “hold” rating to a “sell” rating in a report on Monday, May 1st. BidaskClub upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Finally, J P Morgan Chase & Co upgraded shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $31.00 to $32.00 in a research note on Tuesday, July 11th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $31.56.
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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