Great Plains Energy Inc (GXP) Expected to Earn Q3 2017 Earnings of $0.96 Per Share
Great Plains Energy Inc (NYSE:GXP) – Stock analysts at KeyCorp issued their Q3 2017 earnings estimates for Great Plains Energy in a research report issued on Wednesday. KeyCorp analyst P. Ridzon forecasts that the utilities provider will post earnings per share of $0.96 for the quarter. KeyCorp has a “Hold” rating on the stock.
GXP has been the topic of a number of other reports. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $30.00 price target on shares of Great Plains Energy in a research report on Wednesday, October 4th. J P Morgan Chase & Co raised Great Plains Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $31.00 to $32.00 in a research note on Tuesday, July 11th. Zacks Investment Research raised Great Plains Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Wells Fargo & Co raised Great Plains Energy from a “market perform” rating to an “outperform” rating in a research note on Monday, October 2nd. Finally, BidaskClub raised Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $31.43.
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Shares of Great Plains Energy (NYSE GXP) opened at 32.20 on Friday. Great Plains Energy has a 12 month low of $25.85 and a 12 month high of $32.25. The stock has a market cap of $6.94 billion, a P/E ratio of 38.20 and a beta of 0.44. The stock’s 50 day moving average is $30.91 and its 200 day moving average is $30.01.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.04). The company had revenue of $682.60 million for the quarter, compared to analysts’ expectations 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 firm posted $0.55 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Tuesday, August 29th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Friday, August 25th. Great Plains Energy’s dividend payout ratio is currently 105.77%.
In other Great Plains Energy news, VP Lori A. Wright sold 7,668 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $30.54, for a total value of $234,180.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Heather A. Humphrey sold 3,500 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $30.86, for a total value of $108,010.00. The disclosure for this sale can be found here. In the last three months, insiders sold 27,391 shares of company stock worth $838,626. Insiders own 0.41% of the company’s stock.
A number of institutional investors have recently bought and sold shares of GXP. UBS Asset Management Americas Inc. boosted its stake in Great Plains Energy by 26.4% in the first quarter. UBS Asset Management Americas Inc. now owns 153,669 shares of the utilities provider’s stock worth $4,490,000 after purchasing an additional 32,093 shares in the last quarter. FMR LLC lifted its stake in shares of Great Plains Energy by 6.4% during the first quarter. FMR LLC now owns 4,595,468 shares of the utilities provider’s stock valued at $134,280,000 after acquiring an additional 275,161 shares during the period. California Public Employees Retirement System lifted its stake in shares of Great Plains Energy by 3.7% during the first quarter. California Public Employees Retirement System now owns 415,352 shares of the utilities provider’s stock valued at $12,137,000 after acquiring an additional 14,900 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Great Plains Energy by 1.2% during the first quarter. PNC Financial Services Group Inc. now owns 19,236 shares of the utilities provider’s stock valued at $562,000 after acquiring an additional 219 shares during the period. Finally, Ngam Advisors L.P. lifted its stake in shares of Great Plains Energy by 3.5% during the first quarter. Ngam Advisors L.P. now owns 14,044 shares of the utilities provider’s stock valued at $410,000 after acquiring an additional 472 shares during the period. 87.90% of the stock is currently owned by 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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