Bank of America Corporation began coverage on shares of Great Plains Energy Inc (NYSE:GXP) in a research note issued on Tuesday. The brokerage set a “buy” rating and a $35.00 price target on the utilities provider’s stock. Bank of America Corporation’s price target points to a potential upside of 9.41% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. J P Morgan Chase & Co set a $35.00 price objective on shares of Great Plains Energy and gave the company a “buy” rating in a report on Thursday, October 12th. Zacks Investment Research raised shares of Great Plains Energy from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Wednesday, October 11th. BidaskClub raised shares of Great Plains Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. KeyCorp reissued a “hold” rating on shares of Great Plains Energy in a report on Friday, September 1st. Finally, SunTrust Banks, Inc. reissued a “hold” rating and set a $30.00 price objective on shares of Great Plains Energy in a report on Wednesday, October 4th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.88.

Shares of Great Plains Energy (NYSE:GXP) traded down 0.72% during mid-day trading on Tuesday, reaching $31.76. The company’s stock had a trading volume of 1,150,178 shares. Great Plains Energy has a one year low of $25.85 and a one year high of $32.25. The firm has a market cap of $6.84 billion, a PE ratio of 37.67 and a beta of 0.44. The firm’s 50 day moving average is $30.99 and its 200 day moving average is $30.06.

Great Plains Energy (NYSE:GXP) last announced its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 8.00% and a return on equity of 5.62%. During the same period last year, the firm earned $0.55 earnings per share. On average, equities analysts anticipate that Great Plains Energy will post $1.74 earnings per share for the current fiscal 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 on Monday, September 18th. The shares were sold at an average price of $30.54, for a total value of $194,539.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Lori A. Wright sold 7,668 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $30.54, for a total transaction of $234,180.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,391 shares of company stock worth $838,626. 0.41% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System boosted its holdings in Great Plains Energy by 9.3% in the second 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 purchasing an additional 22,120 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Great Plains Energy in the second quarter valued at $772,000. Magellan Asset Management Ltd boosted its holdings in Great Plains Energy by 6.9% in the second quarter. Magellan Asset Management Ltd now owns 144,315 shares of the utilities provider’s stock valued at $4,226,000 after purchasing an additional 9,293 shares during the last quarter. Virginia Retirement Systems ET AL boosted its holdings in Great Plains Energy by 24.7% in the second quarter. Virginia Retirement Systems ET AL now owns 73,600 shares of the utilities provider’s stock valued at $2,155,000 after purchasing an additional 14,600 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in Great Plains Energy by 3.3% in the second quarter. Louisiana State Employees Retirement System now owns 56,200 shares of the utilities provider’s stock valued at $1,646,000 after purchasing an additional 1,800 shares during the last quarter. 87.89% 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.

Analyst Recommendations for Great Plains Energy (NYSE:GXP)

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