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Great Plains Engy (NYSE: GXP) was downgraded by equities research analysts at Goldman Sachs from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports.

The analysts wrote, “We downgrade GXP to Neutral from Buy given relative valuation and limited or few positive catalysts to drive outperformance from here. Our $23, 12-month target price implies only 3% total return versus 11%, on average, for Buy-rated names under coverage. Since being added to the Americas Buy list on June 12, 2011, GXP is up 14% versus the sector index up 19% and the S&P 500 up 24%. After initially underperforming on disappointing guidance and demand, GXP outperformed YTD after relatively constructive rate case outcomes in Missouri/Kansas and better 2013 EPS guidance than many investors expected.”

A number of other firms have also recently commented on GXP. Analysts at Ladenburg Thalmann raised their price target on shares of Great Plains Engy from $22.50 to $24.00 in a research note to investors on Monday, March 4th. Analysts at SunTrust initiated coverage on shares of Great Plains Engy in a research note to investors on Wednesday, January 16th. They set a “buy” rating and a $23.00 price target on the stock.

Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Great Plains Engy currently has an average rating of “Buy” and a consensus target price of $23.63.

Shares of Great Plains Engy (NYSE: GXP) traded down 1.21% during mid-day trading on Wednesday, hitting $22.81. Great Plains Engy has a 52 week low of $19.47 and a 52 week high of $23.25. The stock’s 50-day moving average is currently $22.42. The company has a market cap of $3.496 billion and a P/E ratio of 17.10.

Great Plains Engy (NYSE: GXP) last announced its earnings results on Thursday, February 28th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.01. The company had revenue of $480.40 million for the quarter, compared to the consensus estimate of $481.70 million. During the same quarter last year, the company posted $0.01 earnings per share. Great Plains Engy’s revenue was down 1.2% compared to the same quarter last year. Great Plains Engy has set its FY13 guidance at $1.44-1.64 EPS. Analysts expect that Great Plains Engy will post $1.56 EPS for the current fiscal year.

Great Plains Energy Incorporated (NYSE: GXP) is a public utility holding company. The Company does not own or operate any assets other than the stock of its subsidiaries.

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