Great Plains Energy Inc. (GXP) Given Average Rating of “Hold” by Analysts
Shares of Great Plains Energy Inc. (NYSE:GXP) have been given an average recommendation of “Hold” by the eight brokerages that are presently covering the firm. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $30.80.
Several research firms have recently commented on GXP. JPMorgan Chase & Co. increased their target price on Great Plains Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, July 15th. Zacks Investment Research upgraded Great Plains Energy from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Tuesday, August 2nd. Barclays PLC upgraded Great Plains Energy from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $31.00 to $29.00 in a research note on Thursday, September 29th. SunTrust Banks Inc. increased their target price on Great Plains Energy from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, September 26th. Finally, Argus reiterated a “buy” rating and set a $36.00 target price on shares of Great Plains Energy in a research note on Friday, September 30th.
Shares of Great Plains Energy (NYSE:GXP) traded up 1.02% during trading on Tuesday, reaching $27.73. 2,008,500 shares of the company’s stock traded hands. The company has a 50 day moving average of $27.18 and a 200-day moving average of $29.45. Great Plains Energy has a 1-year low of $25.44 and a 1-year high of $32.74. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 20.74 and a beta of 0.45.
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Great Plains Energy (NYSE:GXP) last released its earnings results on Thursday, August 4th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.16. Great Plains Energy had a return on equity of 7.16% and a net margin of 8.03%. During the same quarter in the previous year, the company posted $0.28 earnings per share. Equities analysts predict that Great Plains Energy will post $1.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Monday, August 29th were paid a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend was Thursday, August 25th. Great Plains Energy’s payout ratio is 78.36%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC raised its position 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 approximately $131,000. Public Employees Retirement Association of Colorado raised 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 during the period. Tower Research Capital LLC TRC raised 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 during the period. Finally, CENTRAL TRUST Co raised 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 during the period. 60.02% of the stock is currently owned by 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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