UMB Bank N A MO Has $1.41 Million Stake in Great Plains Energy Inc (GXP)
UMB Bank N A MO cut its stake in Great Plains Energy Inc (NYSE:GXP) by 8.4% during the second quarter, Holdings Channel reports. The institutional investor owned 48,192 shares of the utilities provider’s stock after selling 4,415 shares during the period. UMB Bank N A MO’s holdings in Great Plains Energy were worth $1,411,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc increased its position in shares of Great Plains Energy by 6.0% in the first quarter. IFP Advisors Inc now owns 15,095 shares of the utilities provider’s stock valued at $441,000 after buying an additional 861 shares in the last quarter. Paragon Capital Management Ltd bought a new position in shares of Great Plains Energy during the first quarter valued at approximately $254,000. Shell Asset Management Co. bought a new position in shares of Great Plains Energy during the first quarter valued at approximately $1,092,000. John G Ullman & Associates Inc. increased its position in shares of Great Plains Energy by 43.1% in the first quarter. John G Ullman & Associates Inc. now owns 292,560 shares of the utilities provider’s stock valued at $8,549,000 after buying an additional 88,150 shares in the last quarter. Finally, Glen Harbor Capital Management LLC increased its position in shares of Great Plains Energy by 206.1% in the first quarter. Glen Harbor Capital Management LLC now owns 111,244 shares of the utilities provider’s stock valued at $3,251,000 after buying an additional 74,900 shares in the last quarter. Institutional investors and hedge funds own 87.70% of the company’s stock.
Shares of Great Plains Energy Inc (GXP) opened at 30.89 on Friday. Great Plains Energy Inc has a 12 month low of $25.85 and a 12 month high of $31.69. The company has a market cap of $6.66 billion, a P/E ratio of 36.64 and a beta of 0.44. The stock’s 50 day moving average price is $30.21 and its 200-day moving average price is $29.07.
Great Plains Energy (NYSE:GXP) last announced its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by $0.04. Great Plains Energy had a net margin of 8.00% and a return on equity of 5.62%. The firm had revenue of $682.60 million for the quarter, compared to the consensus estimate of $677 million. During the same period in the previous year, the company posted $0.55 earnings per share. Equities research analysts expect that Great Plains Energy Inc will post $1.66 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Tuesday, August 29th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Friday, August 25th. Great Plains Energy’s payout ratio is presently 105.77%.
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Several research analysts have commented on the company. BidaskClub upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research downgraded Great Plains Energy from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, J P Morgan Chase & Co upgraded Great Plains Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $31.00 to $32.00 in a research report on Tuesday, July 11th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Great Plains Energy currently has a consensus rating of “Buy” and a consensus price target of $31.56.
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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