Great Plains Energy Inc. (NYSE:GXP) – Equities research analysts at SunTrust Banks dropped their Q2 2017 EPS estimates for shares of Great Plains Energy in a report issued on Thursday. SunTrust Banks analyst A. Agha now forecasts that the brokerage will post earnings per share of $0.54 for the quarter, down from their prior forecast of $0.57. SunTrust Banks currently has a “Neutral” rating and a $30.00 target price on the stock. SunTrust Banks also issued estimates for Great Plains Energy’s Q2 2018 earnings at $0.55 EPS.
GXP has been the subject of several other reports. JPMorgan Chase & Co. upped their price objective on Great Plains Energy from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, July 15th. Barclays PLC raised Great Plains Energy from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $31.00 to $29.00 in a research report on Thursday. Zacks Investment Research raised Great Plains Energy from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Tuesday, August 2nd. Finally, Argus reaffirmed a “buy” rating and set a $36.00 price objective on shares of Great Plains Energy in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $30.71.
Shares of Great Plains Energy (NYSE:GXP) opened at 27.29 on Monday. The firm has a market cap of $4.22 billion, a P/E ratio of 20.41 and a beta of 0.45. The firm has a 50-day moving average price of $27.53 and a 200 day moving average price of $29.83. Great Plains Energy has a one year low of $25.44 and a one year high of $32.74.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.16. Great Plains Energy had a return on equity of 7.16% and a net margin of 8.03%. During the same period in the prior year, the firm earned $0.28 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Monday, August 29th were given a $0.2625 dividend. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.85%. Great Plains Energy’s dividend payout ratio (DPR) is presently 78.36%.
Several hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC boosted its stake in shares of Great Plains Energy by 233.3% in the second quarter. Acrospire Investment Management LLC now owns 4,000 shares of the company’s stock worth $122,000 after buying an additional 2,800 shares during the period. Assetmark Inc. bought a new stake in Great Plains Energy during the second quarter worth $131,000. Public Employees Retirement Association of Colorado boosted its stake in Great Plains Energy by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 4,966 shares of the company’s stock worth $151,000 after buying an additional 14 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Great Plains Energy by 912.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,001 shares of the company’s stock worth $152,000 after buying an additional 4,507 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its stake in Great Plains Energy by 12.9% in the second quarter. CENTRAL TRUST Co now owns 5,112 shares of the company’s stock worth $155,000 after buying an additional 585 shares during the last quarter. 80.49% of the stock is owned by hedge funds and other institutional investors.
Great Plains Energy Company Profile
Great Plains Energy Incorporated is a public utility holding company. The Company operates through electric utility segment. The Company does not own or operate any assets other than the stock of its subsidiaries. The Company’s subsidiaries with operations include Kansas City Power & Light Company (KCP&L) and KCP&L Greater Missouri Operations Company (GMO).
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