Great Plains Energy Inc (GXP) Upgraded at BidaskClub
BidaskClub upgraded shares of Great Plains Energy Inc (NYSE:GXP) from a hold rating to a buy rating in a research note released on Tuesday morning.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Great Plains Energy from a hold rating to a buy rating and set a $34.00 target price for the company in a report on Tuesday, July 25th. J P Morgan Chase & Co upgraded Great Plains Energy from a neutral rating to an overweight rating and raised their price target for the stock from $31.00 to $32.00 in a research report on Tuesday, July 11th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $31.56.
Shares of Great Plains Energy (NYSE GXP) traded down 0.93% during midday trading on Tuesday, reaching $30.89. 2,974,988 shares of the company’s stock traded hands. 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 has a 52-week low of $25.85 and a 52-week high of $31.69. The stock has a 50 day moving average of $30.21 and a 200-day moving average of $29.07.
Great Plains Energy (NYSE:GXP) last posted its earnings results on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $682.60 million for the quarter, compared to analyst estimates of $677 million. During the same period in the prior year, the business posted $0.55 EPS. On average, equities research analysts expect that Great Plains Energy will post $1.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Tuesday, August 29th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Friday, August 25th. Great Plains Energy’s dividend payout ratio is presently 105.77%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. boosted its position in Great Plains Energy by 17.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 3,420 shares of the utilities provider’s stock worth $100,000 after buying an additional 520 shares in the last quarter. Proficio Capital Partners LLC boosted its position in Great Plains Energy by 312.2% in the first quarter. Proficio Capital Partners LLC now owns 3,710 shares of the utilities provider’s stock worth $107,000 after buying an additional 2,810 shares in the last quarter. Ffcm LLC boosted its position in Great Plains Energy by 171.5% in 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. First Command Bank boosted its position in Great Plains Energy by 100.0% in the second quarter. First Command Bank now owns 4,400 shares of the utilities provider’s stock worth $128,000 after buying an additional 2,200 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in Great Plains Energy during the first quarter worth about $139,000. Hedge funds and other institutional investors own 87.70% of the company’s stock.
Great Plains Energy Company 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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