Great Plains Energy Incorporated (GXP) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Great Plains Energy Incorporated (NYSE:GXP) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $31.67.
A number of brokerages have issued reports on GXP. Zacks Investment Research downgraded Great Plains Energy from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Evercore ISI reissued an “outperform” rating and issued a $31.00 price target on shares of Great Plains Energy in a report on Thursday, March 30th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $30.00 price target (up from $27.00) on shares of Great Plains Energy in a report on Saturday, March 11th.
Shares of Great Plains Energy (NYSE:GXP) traded up 1.60% during mid-day trading on Friday, reaching $28.52. 3,404,317 shares of the company traded hands. The firm has a 50 day moving average of $28.97 and a 200-day moving average of $28.05. Great Plains Energy has a 52 week low of $25.85 and a 52 week high of $31.24. The stock has a market capitalization of $6.14 billion, a PE ratio of 23.63 and a beta of 0.40.
Great Plains Energy (NYSE:GXP) last announced its quarterly earnings results on Thursday, May 4th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. Great Plains Energy had a return on equity of 7.87% and a net margin of 8.06%. The company had revenue of $570.70 million during the quarter, compared to the consensus estimate of $584.92 million. During the same period in the previous year, the company posted $0.17 earnings per share. On average, equities research analysts expect that Great Plains Energy will post $1.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Tuesday, May 30th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, May 25th. Great Plains Energy’s payout ratio is 79.71%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in shares of Great Plains Energy during the first quarter valued at $139,000. Mckinley Capital Management LLC Delaware purchased a new position in Great Plains Energy during the first quarter valued at approximately $141,000. Envestnet Asset Management Inc. increased its position in Great Plains Energy by 22.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,476 shares of the utilities provider’s stock valued at $148,000 after buying an additional 1,008 shares in the last quarter. MAI Capital Management purchased a new position in Great Plains Energy during the first quarter valued at approximately $208,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in Great Plains Energy by 12.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,162 shares of the utilities provider’s stock valued at $197,000 after buying an additional 769 shares in the last quarter. 90.15% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: “Great Plains Energy Incorporated (GXP) Receives Consensus Recommendation of “Hold” from Analysts” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2017/05/19/great-plains-energy-incorporated-gxp-receives-consensus-recommendation-of-hold-from-analysts.html.
About Great Plains Energy
Great Plains Energy Incorporated (Great Plains Energy) is a utility holding company. The Company operates through electric utility segment. The Company’s subsidiaries with operations include Kansas City Power & Light Company (KCP&L) and KCP&L Greater Missouri Operations Company (GMO). KCP&L is an integrated, regulated electric utility that provides electricity to customers primarily in the states of Missouri and Kansas.
Receive News & Ratings for Great Plains Energy Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Great Plains Energy Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.