Great Plains Energy Inc (NYSE:GXP) has received a consensus rating of “Buy” from the eleven brokerages that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $31.56.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Great Plains Energy from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Tuesday, May 23rd. BidaskClub raised Great Plains Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, J P Morgan Chase & Co raised Great Plains Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $31.00 to $32.00 in a research note on Tuesday, July 11th.

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Hedge funds have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its stake in shares of 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 valued at $100,000 after buying an additional 520 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of 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 valued at $107,000 after buying an additional 2,810 shares during the period. First Command Bank boosted its stake in shares of Great Plains Energy by 100.0% in the second quarter. First Command Bank now owns 4,400 shares of the utilities provider’s stock valued at $128,000 after buying an additional 2,200 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Great Plains Energy during the first quarter valued at approximately $139,000. Finally, Mckinley Capital Management LLC Delaware acquired a new stake in shares of Great Plains Energy during the first quarter valued at approximately $141,000. 87.97% of the stock is owned by institutional investors and hedge funds.

Great Plains Energy (NYSE:GXP) traded up 0.48% during trading on Friday, hitting $31.22. The stock had a trading volume of 2,525,571 shares. Great Plains Energy has a 1-year low of $25.85 and a 1-year high of $31.22. The stock has a market cap of $6.72 billion, a PE ratio of 25.87 and a beta of 0.44. The firm’s 50-day moving average price is $29.87 and its 200-day moving average price is $28.88.

Great Plains Energy (NYSE:GXP) last released its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $570.70 million during the quarter, compared to analyst estimates of $584.92 million. Great Plains Energy had a return on equity of 6.52% and a net margin of 9.50%. During the same period last year, the company posted $0.17 EPS. On average, equities research analysts predict that Great Plains Energy will post $1.66 earnings per share for the current fiscal year.

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.

Analyst Recommendations for Great Plains Energy (NYSE:GXP)

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