Great Plains Energy Inc (GXP) Given a $35.00 Price Target at J P Morgan Chase & Co
J P Morgan Chase & Co set a $35.00 price objective on Great Plains Energy Inc (NYSE:GXP) in a research report report published on Thursday morning. The firm currently has a buy rating on the utilities provider’s stock.
Several other research analysts have also commented on GXP. Zacks Investment Research lowered shares of Great Plains Energy from a buy rating to a hold rating in a research note on Thursday, August 10th. Wells Fargo & Company upgraded shares of Great Plains Energy from a market perform rating to an outperform rating in a research note on Monday, October 2nd. SunTrust Banks, Inc. restated a hold rating and set a $30.00 price target on shares of Great Plains Energy in a research note on Wednesday, October 4th. BidaskClub upgraded shares of Great Plains Energy from a hold rating to a buy rating in a research note on Tuesday, August 8th. Finally, KeyCorp restated a hold rating on shares of Great Plains Energy in a research note on Friday, September 1st. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and an average target price of $31.43.
Great Plains Energy (NYSE GXP) traded down 0.47% during trading on Thursday, hitting $31.79. 1,284,742 shares of the company traded hands. The firm has a market cap of $6.85 billion, a P/E ratio of 37.71 and a beta of 0.44. The firm has a 50 day moving average of $30.78 and a 200 day moving average of $29.90. Great Plains Energy has a one year low of $25.85 and a one year high of $32.09.
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 the Thomson Reuters’ consensus estimate of $0.47 by ($0.04). Great Plains Energy had a return on equity of 5.62% and a net margin of 8.00%. The business had revenue of $682.60 million for the quarter, compared to analyst estimates of $677.00 million. During the same quarter last year, the company earned $0.55 EPS. On average, analysts expect that Great Plains Energy will post $1.60 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Tuesday, August 29th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Friday, August 25th. Great Plains Energy’s dividend payout ratio is currently 105.77%.
In related news, SVP Heather A. Humphrey sold 3,500 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $30.86, for a total transaction of $108,010.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin E. Bryant sold 9,853 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $30.64, for a total transaction of $301,895.92. Following the sale, the chief financial officer now directly owns 38,003 shares of the company’s stock, valued at $1,164,411.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,391 shares of company stock valued at $838,626. 0.41% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Great Plains Energy by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 19,489,178 shares of the utilities provider’s stock worth $569,474,000 after buying an additional 1,007,461 shares during the period. FMR LLC boosted its holdings in shares of Great Plains Energy by 90.3% during the 2nd quarter. FMR LLC now owns 8,745,550 shares of the utilities provider’s stock worth $256,070,000 after buying an additional 4,150,082 shares during the period. Janus Henderson Group PLC bought a new stake in shares of Great Plains Energy during the 2nd quarter worth $116,876,000. Jennison Associates LLC bought a new stake in shares of Great Plains Energy during the 2nd quarter worth $104,441,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Great Plains Energy by 96.3% during the 2nd quarter. Principal Financial Group Inc. now owns 3,476,540 shares of the utilities provider’s stock worth $101,793,000 after buying an additional 1,705,459 shares during the period. 87.90% of the stock is owned by institutional investors and hedge funds.
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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