Great Plains Energy Incorporated (GXP) Given Average Recommendation of “Buy” by Analysts
Great Plains Energy Incorporated (NYSE:GXP) has earned a consensus rating of “Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $31.50.
Several research analysts recently commented on GXP shares. ValuEngine upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Bank of America initiated coverage on shares of Great Plains Energy in a research note on Tuesday, October 24th. They issued a “buy” rating and a $35.00 price objective for the company. J P Morgan Chase & Co set a $35.00 price objective on shares of Great Plains Energy and gave the stock a “buy” rating in a research note 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 for the company in a research note on Wednesday, October 11th. Finally, KeyCorp reissued a “hold” rating on shares of Great Plains Energy in a research note on Friday, September 1st.
In other news, VP Lori A. Wright sold 7,668 shares of Great Plains Energy stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $30.54, for a total transaction of $234,180.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Heather A. Humphrey sold 3,500 shares of Great Plains Energy 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 disclosure for this sale can be found here. In the last three months, insiders sold 27,391 shares of company stock valued at $838,626. 0.41% of the stock is owned by insiders.
Great Plains Energy (NYSE GXP) opened at $34.16 on Friday. The company has a market capitalization of $7,308.77, a PE ratio of 19.48, a P/E/G ratio of 3.48 and a beta of 0.46. Great Plains Energy has a 12-month low of $26.67 and a 12-month high of $34.56. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.44 and a quick ratio of 1.24.
Great Plains Energy (NYSE:GXP) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.05 EPS 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 return on equity of 5.41% and a net margin of 3.42%. During the same quarter last year, the business posted $1.00 earnings per share. analysts expect that Great Plains Energy will post 1.77 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 29th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.22%. The ex-dividend date is Monday, November 27th. Great Plains Energy’s payout ratio is currently 550.03%.
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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.
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