Great Plains Energy Inc (NYSE:GXP)‘s stock had its “hold” rating restated by research analysts at SunTrust Banks, Inc. in a research report issued to clients and investors on Wednesday. They presently have a $30.00 target price on the utilities provider’s stock. SunTrust Banks, Inc.’s price objective would suggest a potential downside of 2.53% from the stock’s current price.

Several other equities analysts have also commented on GXP. BidaskClub upgraded shares of Great Plains Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Zacks Investment Research upgraded shares of Great Plains Energy from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. J P Morgan Chase & Co upgraded shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $31.00 to $32.00 in a research report on Tuesday, July 11th. KeyCorp restated a “hold” rating on shares of Great Plains Energy in a research report on Friday, September 1st. Finally, Wells Fargo & Company upgraded shares of Great Plains Energy from a “market perform” rating to an “outperform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $30.86.

Great Plains Energy (GXP) traded up 0.75% during mid-day trading on Wednesday, hitting $30.78. 2,998,705 shares of the stock traded hands. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 36.51 and a beta of 0.44. Great Plains Energy has a 1-year low of $25.85 and a 1-year high of $31.69. The stock has a 50-day moving average of $30.80 and a 200 day moving average of $29.80.

Great Plains Energy (NYSE:GXP) last released its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.04). The firm had revenue of $682.60 million for the quarter, compared to the consensus estimate of $677.00 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 prior year, the company posted $0.55 EPS. On average, equities analysts expect that Great Plains Energy will post $1.60 EPS for the current year.

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In other Great Plains Energy news, insider Terry D. Bassham sold 6,370 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $30.54, for a total value of $194,539.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin E. Bryant sold 9,853 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $30.64, for a total transaction of $301,895.92. Following the completion of the sale, the chief financial officer now directly owns 38,003 shares of the company’s stock, valued at $1,164,411.92. The disclosure for this sale can be found here. Insiders sold 27,391 shares of company stock valued at $838,626 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System lifted its holdings in Great Plains Energy by 9.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 260,571 shares of the utilities provider’s stock valued at $7,630,000 after acquiring an additional 22,120 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Great Plains Energy by 3.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 56,200 shares of the utilities provider’s stock valued at $1,646,000 after acquiring an additional 1,800 shares during the last quarter. Virginia Retirement Systems ET AL lifted its holdings in Great Plains Energy by 24.7% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 73,600 shares of the utilities provider’s stock valued at $2,155,000 after acquiring an additional 14,600 shares during the last quarter. Magellan Asset Management Ltd lifted its holdings in Great Plains Energy by 6.9% in the 2nd quarter. Magellan Asset Management Ltd now owns 144,315 shares of the utilities provider’s stock valued at $4,226,000 after acquiring an additional 9,293 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in Great Plains Energy in the 1st quarter valued at about $353,000. 87.90% of the stock is owned by 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.

Analyst Recommendations for Great Plains Energy (NYSE:GXP)

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