Great Plains Energy Inc (NYSE:GXP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Great Plains Energy Incorporated engages in the generation, transmission, distribution and sale of electricity to customers located in all or portions of numerous counties in western Missouri and eastern Kansas. Customers include residences, commercial firms, and industrials, municipalities and other electric utilities. “

A number of other research analysts also recently commented on GXP. Evercore ISI reissued an “outperform” rating and set a $31.00 target price on shares of Great Plains Energy in a research report on Thursday, March 30th. BidaskClub raised shares of Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, J P Morgan Chase & Co raised shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and raised their target price for the company from $31.00 to $32.00 in a research report on Tuesday, July 11th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Great Plains Energy has an average rating of “Buy” and a consensus price target of $31.33.

Great Plains Energy (NYSE:GXP) traded down 0.76% during mid-day trading on Friday, reaching $29.92. 3,015,716 shares of the company’s stock traded hands. The stock has a market capitalization of $6.44 billion, a PE ratio of 24.79 and a beta of 0.44. Great Plains Energy has a 12-month low of $25.85 and a 12-month high of $31.24. The stock has a 50-day moving average price of $29.02 and a 200-day moving average price of $28.47.

Great Plains Energy (NYSE:GXP) last announced its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Great Plains Energy had a net margin of 9.50% and a return on equity of 6.52%. The company had revenue of $570.70 million during the quarter, compared to analyst estimates of $584.92 million. During the same quarter last year, the business posted $0.17 EPS. Equities research analysts expect that Great Plains Energy will post $1.77 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders 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 3.68%. The ex-dividend date was Thursday, May 25th. Great Plains Energy’s payout ratio is currently 82.09%.

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Several hedge funds and other institutional investors have recently modified their holdings of GXP. Envestnet Asset Management Inc. increased its position in shares of 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 last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of 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 last quarter. Teachers Advisors LLC increased its position in shares of Great Plains Energy by 140.0% in the fourth quarter. Teachers Advisors LLC now owns 433,889 shares of the utilities provider’s stock worth $11,867,000 after buying an additional 253,127 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Great Plains Energy by 63.3% in the fourth quarter. Macquarie Group Ltd. now owns 73,500 shares of the utilities provider’s stock worth $2,010,000 after buying an additional 28,500 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in shares of Great Plains Energy by 8.8% in the first quarter. Raymond James Trust N.A. now owns 13,904 shares of the utilities provider’s stock worth $406,000 after buying an additional 1,121 shares during the last quarter. 88.38% of the stock is currently owned by hedge funds and other institutional investors.

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.

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