Great Plains Energy Inc (NYSE:GXP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Great Plains Energy Incorporated engages in the generation, transmission, distribution and sale of electricity to customers located in all or portions of numerous counties in western Missouri and eastern Kansas. Customers include residences, commercial firms, and industrials, municipalities and other electric utilities. “

Several other analysts have also weighed in on GXP. ValuEngine raised shares of Great Plains Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. BidaskClub raised shares of Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Wells Fargo & Company raised shares of Great Plains Energy from a “market perform” rating to an “outperform” rating in a research note on Monday, October 2nd. J P Morgan Chase & Co set a $35.00 price target on shares of Great Plains Energy and gave the company a “buy” rating in a research note on Thursday, October 12th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and set a $30.00 price target on shares of Great Plains Energy in a research note on Wednesday, October 4th. Five equities research 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 currently has a consensus rating of “Buy” and a consensus price target of $32.00.

Great Plains Energy (NYSE:GXP) traded down $0.29 during midday trading on Wednesday, hitting $33.70. 1,976,900 shares of the stock traded hands, compared to its average volume of 2,246,390. The firm has a market capitalization of $7,257.01, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 3.46 and a beta of 0.47. The company has a current ratio of 1.44, a quick ratio of 1.24 and a debt-to-equity ratio of 0.65. Great Plains Energy has a 12 month low of $25.85 and a 12 month high of $34.09.

Great Plains Energy (NYSE:GXP) last posted its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.09. The company had revenue of $857.20 million during the quarter, compared to analyst estimates of $805.72 million. Great Plains Energy had a net margin of 3.42% and a return on equity of 5.41%. During the same quarter last year, the business posted $1.00 earnings per share. research analysts expect that Great Plains Energy will post 1.77 earnings per share for the current year.

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In other news, CFO Kevin E. Bryant sold 9,853 shares of Great Plains Energy stock in a transaction on Monday, September 18th. The shares were sold at an average price of $30.64, for a total transaction of $301,895.92. Following the transaction, the chief financial officer now directly owns 38,003 shares of the company’s stock, valued at $1,164,411.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Lori A. Wright sold 7,668 shares of Great Plains Energy stock in a transaction 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. Over the last three months, insiders have sold 27,391 shares of company stock worth $838,626. Insiders own 0.41% of the company’s stock.

Large investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its holdings in shares of Great Plains Energy by 9.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 260,571 shares of the utilities provider’s stock worth $7,630,000 after acquiring an additional 22,120 shares during the period. Magellan Asset Management Ltd increased its stake 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 buying an additional 9,293 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in Great Plains Energy in the 2nd quarter valued at $772,000. Virginia Retirement Systems ET AL increased its stake 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 buying an additional 14,600 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake 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 buying an additional 1,800 shares during the last quarter. Institutional investors and hedge funds own 87.80% of the company’s stock.

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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