Great Plains Energy Inc (GXP) Stock Rating Reaffirmed by KeyCorp
Great Plains Energy Inc (NYSE:GXP)‘s stock had its “hold” rating reiterated by stock analysts at KeyCorp in a research note issued on Friday.
A number of other research analysts also recently commented on the company. Zacks Investment Research upgraded Great Plains Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. BidaskClub upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, J P Morgan Chase & Co upgraded Great Plains Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $31.00 to $32.00 in a research report on Tuesday, July 11th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $31.56.
Great Plains Energy (NYSE GXP) traded up 0.20% during midday trading on Friday, reaching $30.75. The company’s stock had a trading volume of 1,006,698 shares. The company’s 50-day moving average price is $30.85 and its 200-day moving average price is $29.47. Great Plains Energy has a 1-year low of $25.85 and a 1-year high of $31.69. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 36.48 and a beta of 0.44.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.04. The company had revenue of $682.60 million for the quarter, compared to the consensus estimate of $677 million. Great Plains Energy had a return on equity of 5.62% and a net margin of 8.00%. During the same quarter in the previous year, the company earned $0.55 earnings per share. On average, analysts predict that Great Plains Energy will post $1.59 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its position in shares of Great Plains Energy by 17.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 3,420 shares of the utilities provider’s stock worth $100,000 after buying an additional 520 shares during the period. Proficio Capital Partners LLC raised its stake in shares of 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 valued at $107,000 after buying an additional 2,810 shares during the period. Ffcm LLC raised its stake in shares of Great Plains Energy by 171.5% in the second quarter. Ffcm LLC now owns 4,018 shares of the utilities provider’s stock valued at $118,000 after buying an additional 2,538 shares during the period. First Command Bank raised its stake in shares of Great Plains Energy by 100.0% in the second quarter. First Command Bank now owns 4,400 shares of the utilities provider’s stock valued at $128,000 after buying an additional 2,200 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of Great Plains Energy during the first quarter valued at $139,000. Institutional investors own 88.62% of the company’s stock.
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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