Korea Electric Power Corp. (KEP) Shares Gap Down to $26.16
Korea Electric Power Corp. (NYSE:KEP) shares gapped down before the market opened on Wednesday . The stock had previously closed at $25.96, but opened at $26.16. Korea Electric Power Corp. shares last traded at $26.49, with a volume of 85,045 shares traded.
KEP has been the topic of a number of recent research reports. Zacks Investment Research cut Korea Electric Power Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 8th. HSBC cut Korea Electric Power Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Finally, Morgan Stanley cut Korea Electric Power Corp. from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $28.00.
The firm has a market cap of $34.52 billion, a price-to-earnings ratio of 2.66 and a beta of 1.05. The company has a 50-day moving average of $26.41 and a 200-day moving average of $25.93.
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Several hedge funds have recently added to or reduced their stakes in KEP. First Manhattan Co. raised its stake in Korea Electric Power Corp. by 27.5% in the first quarter. First Manhattan Co. now owns 60,542 shares of the company’s stock worth $1,558,000 after buying an additional 13,042 shares during the last quarter. Aperio Group LLC increased its position in Korea Electric Power Corp. by 1.9% in the first quarter. Aperio Group LLC now owns 1,067,636 shares of the company’s stock worth $27,492,000 after buying an additional 19,450 shares during the period. Thomas White International Ltd. increased its position in Korea Electric Power Corp. by 3.0% in the first quarter. Thomas White International Ltd. now owns 405,984 shares of the company’s stock worth $10,454,000 after buying an additional 11,677 shares during the period. BlackRock Group LTD increased its position in Korea Electric Power Corp. by 0.3% in the first quarter. BlackRock Group LTD now owns 308,782 shares of the company’s stock worth $7,951,000 after buying an additional 883 shares during the period. Finally, BlackRock Fund Advisors increased its position in Korea Electric Power Corp. by 30.6% in the first quarter. BlackRock Fund Advisors now owns 247,492 shares of the company’s stock worth $6,373,000 after buying an additional 58,024 shares during the period. Institutional investors own 4.73% of the company’s stock.
About Korea Electric Power Corp.
Korea Electric Power Corporation (KEPCO) is an integrated electric utility company engaged in the transmission and distribution of electricity in the Republic of Korea. Its segments include transmission and distribution, nuclear power generation and thermal power generation and all others. The transmission and distribution segment, which is operated by KEPCO, comprise operations related to the transmission, distribution and sale to end-users of electricity purchased from its generation subsidiaries, as well as from independent power producers.
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