Great Plains Energy (GXP) Downgraded to Sell at Zacks Investment Research

Great Plains Energy (NYSE:GXP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

According to Zacks, “Great Plains Energy Incorporated, through its subsidiaries, generates, transmits, distributes, and sells electricity. It also provides regulated steam services in St. Joseph, Missouri. The company generates electricity using coal, nuclear, natural gas, oil, wind, solar, and hydroelectric resources. It has approximately 6,500 megawatts of generating capacity. The company sells electricity to approximately 855,700 customers in western Missouri and eastern Kansas, including approximately 753,500 residences and 99,700 commercial firms, as well as 2,500 industrials, municipalities, and other electric utilities. “

A number of other equities research analysts also recently commented on the company. Bank of America initiated coverage on Great Plains Energy in a research report on Tuesday, October 24th. They issued a “buy” rating and a $35.00 target price on the stock. ValuEngine upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. SunTrust Banks restated a “hold” rating and issued a $30.00 target price on shares of Great Plains Energy in a research report on Wednesday, October 4th. JPMorgan Chase & Co. set a $35.00 target price on Great Plains Energy and gave the company a “buy” rating in a research report on Thursday, October 12th. Finally, Wells Fargo & Co upgraded Great Plains Energy from a “market perform” rating to an “outperform” rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $32.14.

Great Plains Energy (NYSE GXP) traded down $0.58 during trading hours on Wednesday, reaching $31.60. The company’s stock had a trading volume of 1,428,300 shares, compared to its average volume of 1,318,650. Great Plains Energy has a 12 month low of $26.72 and a 12 month high of $34.72. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.44 and a quick ratio of 1.24. The stock has a market capitalization of $6,952.93, a P/E ratio of 158.01, a P/E/G ratio of 3.22 and a beta of 0.47.

Great Plains Energy (NYSE:GXP) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.09. Great Plains Energy had a return on equity of 5.41% and a net margin of 3.42%. The company had revenue of $857.20 million for the quarter, compared to the consensus estimate of $805.72 million. During the same quarter in the previous year, the business earned $1.00 earnings per share. equities analysts expect that Great Plains Energy will post 1.77 EPS for the current year.

Several hedge funds have recently bought and sold shares of GXP. Schwab Charles Investment Management Inc. raised its holdings in shares of Great Plains Energy by 3.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 950,471 shares of the utilities provider’s stock valued at $27,830,000 after buying an additional 30,588 shares during the period. Utah Retirement Systems raised its holdings in shares of Great Plains Energy by 0.5% in the 2nd quarter. Utah Retirement Systems now owns 39,501 shares of the utilities provider’s stock valued at $1,157,000 after buying an additional 200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Great Plains Energy by 9.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,521 shares of the utilities provider’s stock valued at $249,000 after buying an additional 765 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Great Plains Energy by 20.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 13,337 shares of the utilities provider’s stock valued at $391,000 after buying an additional 2,298 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Great Plains Energy by 0.8% in the 2nd quarter. Swiss National Bank now owns 358,800 shares of the utilities provider’s stock valued at $10,506,000 after buying an additional 2,700 shares during the period. Hedge funds and other institutional investors own 87.07% of the company’s stock.

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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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