Zacks Investment Research Lowers Great Plains Energy Inc. (GXP) to Sell
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. “
A number of other research firms have also recently commented on GXP. JPMorgan Chase & Co. increased their price target on Great Plains Energy from $31.00 to $32.00 and gave the company a neutral rating in a research note on Friday, July 15th. Barclays PLC upgraded Great Plains Energy from an underweight rating to an equal weight rating and reduced their price objective for the stock from $31.00 to $29.00 in a research note on Thursday, September 29th. SunTrust Banks Inc. raised their price objective on Great Plains Energy from $29.00 to $30.00 and gave the stock a neutral rating in a research note on Monday, September 26th. Argus restated a buy rating and issued a $36.00 price objective on shares of Great Plains Energy in a research note on Friday, September 30th. Finally, Bank of America Corp. upgraded Great Plains Energy from a neutral rating to a buy rating and set a $32.00 price objective for the company in a research note on Monday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $31.29.
Great Plains Energy (NYSE:GXP) opened at 27.36 on Tuesday. Great Plains Energy has a 12-month low of $25.44 and a 12-month high of $32.74. The stock has a market capitalization of $4.23 billion, a PE ratio of 20.46 and a beta of 0.45. The company has a 50-day moving average price of $27.20 and a 200-day moving average price of $29.55.
Great Plains Energy (NYSE:GXP) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.16. Great Plains Energy had a return on equity of 7.16% and a net margin of 8.03%. During the same period in the previous year, the firm earned $0.28 earnings per share. Analysts expect that Great Plains Energy will post $1.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Monday, August 29th were issued a $0.2625 dividend. This represents a $1.05 annualized dividend and a yield of 3.84%. The ex-dividend date was Thursday, August 25th. Great Plains Energy’s payout ratio is currently 78.36%.
A number of hedge funds have recently modified their holdings of GXP. Boston Advisors LLC acquired a new stake in shares of Great Plains Energy during the second quarter valued at approximately $12,162,000. Gateway Investment Advisers LLC raised its stake in shares of Great Plains Energy by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 106,925 shares of the company’s stock worth $3,251,000 after buying an additional 367 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Great Plains Energy by 1.7% in the first quarter. Geode Capital Management LLC now owns 930,799 shares of the company’s stock worth $30,018,000 after buying an additional 15,812 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Great Plains Energy by 71.7% in the first quarter. Renaissance Technologies LLC now owns 1,128,915 shares of the company’s stock worth $36,408,000 after buying an additional 471,315 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Great Plains Energy by 12.0% in the second quarter. Boston Partners now owns 4,326,511 shares of the company’s stock worth $131,526,000 after buying an additional 462,867 shares in the last quarter. 60.06% of the stock is currently owned by institutional investors.
About Great Plains Energy
Great Plains Energy Incorporated is a public utility holding company. The Company operates through electric utility segment. The Company does not own or operate any assets other than the stock of its subsidiaries. The Company’s subsidiaries with operations include Kansas City Power & Light Company (KCP&L) and KCP&L Greater Missouri Operations Company (GMO).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Great Plains Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Great Plains Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.