Korea Electric Power Co. (KEP) Lifted to Buy at Citigroup Inc
Korea Electric Power Co. (NYSE:KEP) was upgraded by research analysts at Citigroup Inc from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, The Fly reports.
Several other analysts also recently commented on KEP. Bank of America Corp raised Korea Electric Power from an “underperform” rating to a “neutral” rating in a research note on Monday, November 21st. Goldman Sachs Group Inc downgraded Korea Electric Power from a “buy” rating to a “neutral” rating in a research note on Friday, December 2nd. Zacks Investment Research raised Korea Electric Power from a “strong sell” rating to a “hold” rating in a research note on Friday, January 20th. Finally, HSBC Holdings plc downgraded Korea Electric Power from a “buy” rating to a “hold” rating in a research note on Tuesday, February 7th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $25.00.
Shares of Korea Electric Power (NYSE:KEP) traded up 2.12% during mid-day trading on Monday, hitting $20.19. The company’s stock had a trading volume of 1,654,519 shares. The stock has a market cap of $25.92 billion, a PE ratio of 4.25 and a beta of 0.46. Korea Electric Power has a 1-year low of $17.36 and a 1-year high of $28.37. The company has a 50-day moving average price of $18.36 and a 200-day moving average price of $20.77.
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A number of institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in Korea Electric Power by 9.4% in the second quarter. Royal Bank of Canada now owns 37,713 shares of the company’s stock worth $978,000 after buying an additional 3,254 shares during the period. BNP Paribas Arbitrage SA purchased a new position in Korea Electric Power during the third quarter worth about $234,000. Fox Run Management L.L.C. purchased a new position in Korea Electric Power during the third quarter worth about $249,000. Capstone Asset Management Co. boosted its position in Korea Electric Power by 9.0% in the third quarter. Capstone Asset Management Co. now owns 86,639 shares of the company’s stock worth $2,112,000 after buying an additional 7,130 shares during the period. Finally, Duff & Phelps Investment Management Co. purchased a new position in Korea Electric Power during the third quarter worth about $2,608,000. Hedge funds and other institutional investors own 4.50% of the company’s stock.
About Korea Electric Power
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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