Great Plains Energy Inc (GXP) Upgraded to Buy at BidaskClub
Great Plains Energy Inc (NYSE:GXP) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.
A number of other research firms have also issued reports on GXP. Zacks Investment Research lowered shares of Great Plains Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Evercore ISI reissued an “outperform” rating and issued a $31.00 price objective on shares of Great Plains Energy in a research report on Thursday, March 30th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $30.00 price objective (up from $27.00) on shares of Great Plains Energy in a research report on Saturday, March 11th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Great Plains Energy currently has an average rating of “Buy” and an average target price of $31.75.
Shares of Great Plains Energy (NYSE GXP) traded down 0.37% during trading on Wednesday, reaching $29.71. 1,298,794 shares of the company traded hands. Great Plains Energy has a 52 week low of $25.85 and a 52 week high of $31.24. The firm’s 50 day moving average price is $28.82 and its 200-day moving average price is $28.36. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 24.61 and a beta of 0.47.
Great Plains Energy (NYSE:GXP) last released its earnings results on Thursday, May 4th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. The company had revenue of $570.70 million for the quarter, compared to analyst estimates of $584.92 million. Great Plains Energy had a net margin of 9.50% and a return on equity of 6.52%. During the same period in the prior year, the business earned $0.17 EPS. Equities analysts anticipate that Great Plains Energy will post $1.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Tuesday, May 30th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend was Thursday, May 25th. Great Plains Energy’s dividend payout ratio (DPR) is 82.09%.
Several hedge funds and other institutional investors have recently bought and sold shares of GXP. Proficio Capital Partners LLC increased its position in Great Plains Energy by 312.2% in the first quarter. Proficio Capital Partners LLC now owns 3,710 shares of the utilities provider’s stock worth $107,000 after buying an additional 2,810 shares during the period. Advisory Services Network LLC bought a new position in Great Plains Energy during the first quarter worth approximately $139,000. Mckinley Capital Management LLC Delaware bought a new position in Great Plains Energy during the first quarter worth 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 worth $148,000 after buying an additional 1,008 shares during the period. 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 worth $197,000 after buying an additional 769 shares during the period. 88.38% of the stock is currently owned by hedge funds and other institutional investors.
Great Plains Energy Company Profile
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.
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