Great Plains Energy Incorporated (GXP) Plans Quarterly Dividend of $0.28

Great Plains Energy Incorporated (NYSE:GXP) declared a quarterly dividend on Tuesday, February 13th, RTT News reports. Investors of record on Tuesday, February 27th will be given a dividend of 0.275 per share by the utilities provider on Tuesday, March 20th. This represents a $1.10 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Monday, February 26th.

Great Plains Energy has increased its dividend by an average of 5.6% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Great Plains Energy has a dividend payout ratio of 62.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Great Plains Energy to earn $1.82 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 60.4%.

Great Plains Energy (NYSE GXP) traded down $0.51 during trading on Tuesday, hitting $29.85. The company had a trading volume of 343,450 shares, compared to its average volume of 1,487,472. 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 company has a market cap of $6,538.86, a P/E ratio of 151.36, a PEG ratio of 3.34 and a beta of 0.38. Great Plains Energy has a 1-year low of $27.59 and a 1-year high of $34.72.

GXP has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Great Plains Energy from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. SunTrust Banks reiterated a “hold” rating and issued a $31.00 price objective on shares of Great Plains Energy in a research report on Tuesday, December 26th. UBS Group initiated coverage on Great Plains Energy in a research report on Friday, February 2nd. They issued a “neutral” rating and a $32.00 price objective for the company. ValuEngine upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Zacks Investment Research downgraded Great Plains Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $32.29.

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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.

Dividend History for Great Plains Energy (NYSE:GXP)

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