Jefferies Group LLC Has $1.87 Million Stake in Great Plains Energy Incorporated (GXP)
Jefferies Group LLC lifted its stake in shares of Great Plains Energy Incorporated (NYSE:GXP) by 19.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 58,037 shares of the utilities provider’s stock after buying an additional 9,251 shares during the quarter. Jefferies Group LLC’s holdings in Great Plains Energy were worth $1,871,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisor Group Inc. raised its holdings in shares of Great Plains Energy by 25.4% during the 4th quarter. Advisor Group Inc. now owns 9,939 shares of the utilities provider’s stock worth $321,000 after acquiring an additional 2,015 shares during the period. Advisory Services Network LLC raised its holdings in shares of Great Plains Energy by 62.7% during the 4th quarter. Advisory Services Network LLC now owns 5,950 shares of the utilities provider’s stock worth $192,000 after acquiring an additional 2,294 shares during the period. Amalgamated Bank raised its holdings in shares of Great Plains Energy by 5.9% during the 4th quarter. Amalgamated Bank now owns 43,557 shares of the utilities provider’s stock worth $1,404,000 after acquiring an additional 2,446 shares during the period. Cadence Capital Management LLC raised its holdings in shares of Great Plains Energy by 28.6% during the 3rd quarter. Cadence Capital Management LLC now owns 13,499 shares of the utilities provider’s stock worth $409,000 after acquiring an additional 3,000 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Great Plains Energy by 38.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,472 shares of the utilities provider’s stock worth $402,000 after acquiring an additional 3,457 shares during the period. Institutional investors and hedge funds own 86.07% of the company’s stock.
Several research analysts have recently commented on the company. Zacks Investment Research lowered Great Plains Energy from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. UBS Group assumed coverage on Great Plains Energy in a report on Friday, February 2nd. They set a “neutral” rating and a $32.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on Great Plains Energy from $37.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. TheStreet lowered Great Plains Energy from a “b-” rating to a “c” rating in a report on Thursday, February 22nd. Finally, Morgan Stanley upgraded Great Plains Energy to a “buy” rating and set a $26.00 price target on the stock in a report on Tuesday, February 13th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $31.86.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $597.70 million for the quarter, compared to analyst estimates of $606.26 million. Great Plains Energy had a negative net margin of 3.92% and a positive return on equity of 5.25%. During the same period in the previous year, the firm earned $0.13 EPS. equities analysts predict that Great Plains Energy Incorporated will post 1.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Tuesday, February 27th will be issued a $0.275 dividend. The ex-dividend date is Monday, February 26th. This represents a $1.10 annualized dividend and a yield of 3.65%. Great Plains Energy’s dividend payout ratio (DPR) is currently -169.23%.
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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.
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