Great Plains Energy Inc (NYSE:GXP) to Post Q3 2017 Earnings of $0.99 Per Share, SunTrust Banks Forecasts
Great Plains Energy Inc (NYSE:GXP) – SunTrust Banks raised their Q3 2017 EPS estimates for Great Plains Energy in a report released on Thursday. SunTrust Banks analyst A. Agha now forecasts that the utilities provider will post earnings of $0.99 per share for the quarter, up from their previous forecast of $0.95. SunTrust Banks also issued estimates for Great Plains Energy’s Q4 2017 earnings at $0.18 EPS.
Other research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Tuesday, July 25th. Finally, J P Morgan Chase & Co upgraded shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $31.00 to $32.00 in a research report on Tuesday, July 11th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $31.56.
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Shares of Great Plains Energy (GXP) opened at 31.18 on Friday. The firm’s 50-day moving average is $30.17 and its 200 day moving average is $29.04. Great Plains Energy has a 12 month low of $25.85 and a 12 month high of $31.69. The stock has a market cap of $6.71 billion, a PE ratio of 25.83 and a beta of 0.44.
Great Plains Energy (NYSE:GXP) last announced its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.04. The business had revenue of $682.60 million during the quarter, compared to analysts’ expectations of $677 million. Great Plains Energy had a net margin of 8.00% and a return on equity of 5.74%. During the same period last year, the company posted $0.55 EPS.
A number of hedge funds have recently added to or reduced their stakes in GXP. Nomura Asset Management Co. Ltd. raised its stake in 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 worth $100,000 after buying an additional 520 shares during the period. Proficio Capital Partners LLC raised its stake in 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 worth $107,000 after buying an additional 2,810 shares during the period. Ffcm LLC raised its stake in Great Plains Energy by 171.5% in 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. First Command Bank raised its stake in Great Plains Energy by 100.0% in the second quarter. First Command Bank now owns 4,400 shares of the utilities provider’s stock worth $128,000 after buying an additional 2,200 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in Great Plains Energy during the first quarter worth $139,000. 87.70% of the stock is owned by institutional investors.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Tuesday, August 29th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Friday, August 25th. Great Plains Energy’s dividend payout ratio (DPR) is presently 105.77%.
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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