California State Teachers Retirement System Sells 31,311 Shares of Great Plains Energy Incorporated (GXP)
California State Teachers Retirement System reduced its holdings in shares of Great Plains Energy Incorporated (NYSE:GXP) by 7.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 366,115 shares of the utilities provider’s stock after selling 31,311 shares during the period. California State Teachers Retirement System owned about 0.17% of Great Plains Energy worth $11,093,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of GXP. Ffcm LLC grew 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 valued at $118,000 after acquiring an additional 2,538 shares during the last quarter. Advisory Services Network LLC grew 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 valued at $140,000 after acquiring an additional 45 shares during the last quarter. HL Financial Services LLC bought a new position in Great Plains Energy during the third quarter valued at approximately $205,000. CIBC Asset Management Inc bought a new position in Great Plains Energy during the third quarter valued at approximately $211,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in Great Plains Energy during the second quarter valued at approximately $219,000. Institutional investors and hedge funds own 87.07% of the company’s stock.
A number of analysts have recently weighed in on the company. Zacks Investment Research lowered Great Plains Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. ValuEngine raised Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Bank of America assumed coverage on Great Plains Energy in a research note on Tuesday, October 24th. They set a “buy” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. set a $35.00 price objective on Great Plains Energy and gave the company a “buy” rating in a research note on Thursday, October 12th. Finally, KeyCorp reissued a “hold” rating on shares of Great Plains Energy in a research note on Friday, September 1st. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Great Plains Energy currently has a consensus rating of “Buy” and a consensus price target of $32.00.
Shares of Great Plains Energy Incorporated (GXP) opened at $32.07 on Monday. The firm has a market capitalization of $6,886.08, a P/E ratio of 160.36, a PEG ratio of 3.28 and a beta of 0.46. Great Plains Energy Incorporated has a 52 week low of $26.72 and a 52 week high of $34.72. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.24 and a current ratio of 1.44.
Great Plains Energy (NYSE:GXP) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. Great Plains Energy had a return on equity of 5.41% and a net margin of 3.42%. The company had revenue of $857.20 million during the quarter, compared to analyst estimates of $805.72 million. During the same quarter last year, the firm posted $1.00 earnings per share. sell-side analysts forecast that Great Plains Energy Incorporated will post 1.77 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, November 29th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Monday, November 27th. Great Plains Energy’s payout ratio is 550.03%.
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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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