Great Plains Energy Inc (GXP) Releases Earnings Results, Beats Estimates By $0.09 EPS
Great Plains Energy Inc (NYSE:GXP) released its earnings results on Wednesday. The utilities provider reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.09, Bloomberg Earnings reports. Great Plains Energy had a net margin of 8.00% and a return on equity of 5.62%. During the same quarter in the prior year, the company posted $1.00 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, November 29th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Monday, November 27th. Great Plains Energy’s dividend payout ratio (DPR) is presently 105.77%.
In related news, SVP Heather A. Humphrey sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $30.86, for a total transaction of $108,010.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lori A. Wright sold 7,668 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was 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. Insiders have sold 27,391 shares of company stock valued at $838,626 over the last 90 days. 0.41% of the stock is currently owned by company insiders.
A number of research analysts have recently weighed in on the stock. Bank of America Corporation assumed coverage on shares of Great Plains Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $35.00 target price for the company. J P Morgan Chase & Co set a $35.00 target price on shares of Great Plains Energy and gave the company a “buy” rating in a research 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 target price for the company in a research report on Wednesday, October 11th. BidaskClub raised shares of Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Great Plains Energy in a report on Friday, September 1st. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $32.00.
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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