Bank of America Corp. upgraded shares of Great Plains Energy Inc. (NYSE:GXP) from a neutral rating to a buy rating in a research report released on Monday morning. The brokerage currently has $32.00 price objective on the stock.
GXP has been the subject of several other reports. SunTrust Banks Inc. boosted their target price on shares of Great Plains Energy from $29.00 to $30.00 and gave the stock a neutral rating in a research report on Monday, September 26th. Argus reaffirmed a buy rating and set a $36.00 price objective on shares of Great Plains Energy in a report on Friday, September 30th. Barclays PLC raised shares of Great Plains Energy from an underweight rating to an equal weight rating and decreased their price objective for the stock from $31.00 to $29.00 in a report on Thursday, September 29th. Zacks Investment Research downgraded shares of Great Plains Energy from a buy rating to a hold rating in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Great Plains Energy from $31.00 to $32.00 and gave the stock a neutral rating in a report on Friday, July 15th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $31.29.
Shares of Great Plains Energy (NYSE:GXP) opened at 26.62 on Monday. The company has a market cap of $4.11 billion, a P/E ratio of 19.91 and a beta of 0.45. Great Plains Energy has a 12 month low of $25.44 and a 12 month high of $32.74. The company’s 50 day moving average is $27.37 and its 200-day moving average is $29.70.
Great Plains Energy (NYSE:GXP) last posted its earnings results on Thursday, August 4th. The company reported $0.55 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 period in the prior year, the business earned $0.28 earnings per share. Analysts expect that Great Plains Energy will post $1.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Monday, August 29th were issued a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend was Thursday, August 25th. Great Plains Energy’s dividend payout ratio (DPR) is presently 78.36%.
A number of hedge funds have recently modified their holdings of the stock. Acrospire Investment Management LLC increased 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. acquired a new position in shares of Great Plains Energy during the second quarter worth about $131,000. Public Employees Retirement Association of Colorado boosted its position in shares of 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 in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of 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 in the last quarter. Finally, CENTRAL TRUST Co boosted its position in shares of 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 in 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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