Great Plains Energy Inc. (NYSE:GXP) saw unusually-high trading volume on Monday after SunTrust Banks raised their price target on the stock from $29.00 to $30.00. SunTrust Banks currently has a neutral rating on the stock. Approximately 3,169,938 shares were traded during mid-day trading, an increase of 53% from the previous session’s volume of 2,070,907 shares.The stock last traded at $27.94 and had previously closed at $27.84.
Several other brokerages have also recently issued reports on GXP. Barclays PLC cut shares of Great Plains Energy from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $28.97 to $28.00 in a report on Thursday, June 2nd. Zacks Investment Research cut shares of Great Plains Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Great Plains Energy in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $30.29.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new position in Great Plains Energy during the first quarter valued at $386,000. Gateway Investment Advisers LLC boosted its position in Great Plains Energy by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 106,925 shares of the company’s stock valued at $3,251,000 after buying an additional 367 shares during the last quarter. Geode Capital Management LLC boosted its position in Great Plains Energy by 1.7% in the first quarter. Geode Capital Management LLC now owns 930,799 shares of the company’s stock valued at $30,018,000 after buying an additional 15,812 shares during the last quarter. Renaissance Technologies LLC boosted its position in Great Plains Energy by 71.7% in the first quarter. Renaissance Technologies LLC now owns 1,128,915 shares of the company’s stock valued at $36,408,000 after buying an additional 471,315 shares during the last quarter. Finally, Boston Partners boosted its position in Great Plains Energy by 12.0% in the second quarter. Boston Partners now owns 4,326,511 shares of the company’s stock valued at $131,526,000 after buying an additional 462,867 shares during the last quarter. 80.49% of the stock is owned by hedge funds and other institutional investors.
The company has a market capitalization of $4.20 billion, a PE ratio of 20.31 and a beta of 0.43. The firm’s 50-day moving average is $27.60 and its 200-day moving average is $29.89.
Great Plains Energy (NYSE:GXP) last issued its earnings results on Thursday, August 4th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 previous year, the business posted $0.28 EPS. Equities analysts anticipate that Great Plains Energy Inc. will post $1.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Monday, August 29th were issued a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Thursday, August 25th. Great Plains Energy’s payout ratio is 78.36%.
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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