Zacks Investment Research cut shares of Great Plains Energy Inc (NYSE:GXP) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Great Plains Energy Incorporated engages in the generation, transmission, distribution and sale of electricity to customers located in all or portions of numerous counties in western Missouri and eastern Kansas. Customers include residences, commercial firms, and industrials, municipalities and other electric utilities. “
GXP has been the topic of a number of other research reports. SunTrust Banks, Inc. reaffirmed a hold rating and set a $30.00 target price on shares of Great Plains Energy in a research note on Wednesday, October 4th. BidaskClub raised Great Plains Energy from a buy rating to a strong-buy rating in a research note on Saturday, August 26th. KeyCorp reissued a hold rating on shares of Great Plains Energy in a research note on Friday, September 1st. ValuEngine raised Great Plains Energy from a hold rating to a buy rating in a research note on Thursday, November 9th. Finally, Bank of America Corporation began coverage on Great Plains Energy in a research note on Tuesday, October 24th. They issued a buy rating and a $35.00 price objective on the stock. 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 company’s stock. Great Plains Energy presently has an average rating of Buy and a consensus target price of $32.00.
Great Plains Energy (NYSE:GXP) traded up $0.06 on Wednesday, hitting $34.05. The stock had a trading volume of 1,270,000 shares, compared to its average volume of 1,660,000. The company has a market capitalization of $7,360.00, a PE ratio of 19.53, a price-to-earnings-growth ratio of 3.49 and a beta of 0.46. Great Plains Energy has a 1 year low of $25.85 and a 1 year high of $34.09. 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 released its earnings results on Wednesday, November 1st. The utilities provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. The firm had revenue of $857.20 million for the quarter, compared to analysts’ expectations of $805.72 million. Great Plains Energy had a return on equity of 5.41% and a net margin of 3.42%. During the same quarter in the prior year, the firm posted $1.00 earnings per share. sell-side analysts expect that Great Plains Energy will post 1.77 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 29th will be issued a dividend of $0.275 per share. The ex-dividend date is Monday, November 27th. This represents a $1.10 dividend on an annualized basis and a yield of 3.23%. Great Plains Energy’s dividend payout ratio is currently 578.95%.
In other Great Plains Energy news, insider Terry D. Bassham sold 6,370 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $30.54, for a total transaction of $194,539.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Lori A. Wright sold 7,668 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $30.54, for a total value of $234,180.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,391 shares of company stock valued at $838,626. 0.41% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of GXP. Nomura Asset Management Co. Ltd. lifted its holdings in Great Plains Energy by 17.9% during 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 during the period. Bank of Nova Scotia Trust Co. purchased a new stake in Great Plains Energy during the third quarter worth $109,000. Ffcm LLC lifted its holdings in Great Plains Energy by 171.5% during 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 during the period. Advisory Services Network LLC lifted its holdings 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 worth $140,000 after buying an additional 45 shares during the period. Finally, HL Financial Services LLC purchased a new stake in Great Plains Energy during the third quarter worth $205,000. Institutional investors own 87.80% of the company’s stock.
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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