Barclays PLC upgraded shares of Great Plains Energy Inc. (NYSE:GXP) from an underweight rating to an equal weight rating in a research note published on Thursday morning. The firm currently has $29.00 target price on the stock, down from their previous target price of $31.00.
Several other research analysts have also recently issued reports on GXP. SunTrust Banks Inc. cut their target price on shares of Great Plains Energy from $30.00 to $29.00 and set a neutral rating on the stock in a report on Monday, August 29th. JPMorgan Chase & Co. restated a hold rating on shares of Great Plains Energy in a report on Tuesday, July 19th. Finally, Zacks Investment Research upgraded shares of Great Plains Energy from a hold rating to a buy rating and set a $33.00 target price on the stock in a report on Tuesday, August 2nd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $31.29.
Great Plains Energy (NYSE:GXP) opened at 26.58 on Thursday. The firm has a market cap of $4.11 billion, a P/E ratio of 19.88 and a beta of 0.45. The firm’s 50-day moving average is $27.46 and its 200 day moving average is $29.74. Great Plains Energy has a 12-month low of $25.44 and a 12-month high of $32.74.
Great Plains Energy (NYSE:GXP) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.39 by $0.16. Great Plains Energy had a net margin of 8.03% and a return on equity of 7.16%. During the same quarter in the prior year, the firm earned $0.28 EPS. Equities analysts forecast that Great Plains Energy will post $1.72 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Monday, August 29th were issued a $0.2625 dividend. This represents a $1.05 annualized dividend and a yield of 3.95%. The ex-dividend date was Thursday, August 25th. Great Plains Energy’s dividend payout ratio (DPR) is currently 78.36%.
Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Great Plains Energy during the fourth quarter valued at $38,605,000. Acadian Asset Management LLC bought a new stake in Great Plains Energy during the first quarter valued at $386,000. Aperio Group LLC boosted its stake in Great Plains Energy by 9.2% in the first quarter. Aperio Group LLC now owns 69,531 shares of the company’s stock valued at $2,242,000 after buying an additional 5,833 shares during the period. Virginia Retirement System bought a new stake in Great Plains Energy during the first quarter valued at $1,248,000. Finally, IFP Advisors Inc boosted its stake in Great Plains Energy by 16.4% in the first quarter. IFP Advisors Inc now owns 7,594 shares of the company’s stock valued at $245,000 after buying an additional 1,069 shares during the period. Institutional investors and hedge funds own 80.49% of the company’s stock.
About Great Plains Energy
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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