Great Plains Energy Inc. (GXP) Trading Down 2.5%
Great Plains Energy Inc. (NYSE:GXP)’s share price traded down 2.5% during trading on Friday . The company traded as low as $27.16 and last traded at $27.19, with a volume of 1,387,432 shares changing hands. The stock had previously closed at $27.89.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Great Plains Energy from a “sell” rating to a “hold” rating in a report on Monday, May 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Great Plains Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, July 15th. Finally, Barclays PLC cut shares of Great Plains Energy from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $28.97 to $28.00 in a research note on Thursday, June 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Great Plains Energy has an average rating of “Hold” and an average price target of $30.43.
The firm has a market cap of $4.20 billion and a price-to-earnings ratio of 20.34. The company has a 50 day moving average of $29.27 and a 200-day moving average of $30.20.
Great Plains Energy (NYSE:GXP) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.16. During the same period in the prior year, the firm earned $0.28 EPS. Equities research analysts anticipate that Great Plains Energy Inc. will post $1.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Monday, August 29th will be given a $0.2625 dividend. This represents a $1.05 annualized dividend and a yield of 3.86%. The ex-dividend date is Thursday, August 25th.
A number of large investors recently modified their holdings of GXP. State of Tennessee Treasury Department raised its stake in shares of Great Plains Energy by 57.0% in the fourth quarter. State of Tennessee Treasury Department now owns 275,300 shares of the company’s stock valued at $7,518,000 after buying an additional 100,000 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Great Plains Energy by 3.4% in the fourth quarter. Ameriprise Financial Inc. now owns 2,698,774 shares of the company’s stock valued at $73,705,000 after buying an additional 89,774 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Great Plains Energy by 2.3% in the fourth quarter. Advisors Asset Management Inc. now owns 43,358 shares of the company’s stock valued at $1,184,000 after buying an additional 982 shares in the last quarter.
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).
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