Macquarie Downgrades Korea Electric Power (KEP) to Neutral

Korea Electric Power (NYSE:KEP) was downgraded by investment analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday, The Fly reports.

Separately, Morgan Stanley lowered shares of Korea Electric Power from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, November 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold”.

Korea Electric Power (NYSE:KEP) traded down $0.44 during trading on Friday, hitting $16.14. 203,953 shares of the company’s stock were exchanged, compared to its average volume of 337,346. Korea Electric Power has a 12-month low of $16.07 and a 12-month high of $21.59. The company has a market capitalization of $21,338.88 and a price-to-earnings ratio of 5.27. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.92 and a quick ratio of 0.63.

Several hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of Korea Electric Power by 0.3% in the second quarter. PNC Financial Services Group Inc. now owns 10,351 shares of the utilities provider’s stock valued at $185,000 after purchasing an additional 29 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Korea Electric Power by 29.8% in the second quarter. Citigroup Inc. now owns 9,579 shares of the utilities provider’s stock valued at $172,000 after purchasing an additional 2,201 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of Korea Electric Power by 35.4% in the second quarter. D.A. Davidson & CO. now owns 10,760 shares of the utilities provider’s stock valued at $193,000 after purchasing an additional 2,812 shares during the last quarter. OLD National Bancorp IN raised its holdings in shares of Korea Electric Power by 24.0% in the third quarter. OLD National Bancorp IN now owns 15,238 shares of the utilities provider’s stock valued at $255,000 after purchasing an additional 2,946 shares during the last quarter. Finally, Fulton Bank N.A. raised its holdings in shares of Korea Electric Power by 18.4% in the third quarter. Fulton Bank N.A. now owns 19,872 shares of the utilities provider’s stock valued at $333,000 after purchasing an additional 3,093 shares during the last quarter. Institutional investors own 4.80% of the company’s stock.

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About Korea Electric Power

Korea Electric Power Corporation (KEPCO) is an integrated electric utility company engaged in the transmission and distribution of electricity in the Republic of Korea. Its segments include transmission and distribution, nuclear power generation and thermal power generation and all others . The transmission and distribution segment, which is operated by KEPCO, comprise operations related to the transmission, distribution and sale to end-users of electricity.