Zimmer Partners LP lessened its stake in Great Plains Energy Incorporated (NYSE:GXP) by 56.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 952,692 shares of the utilities provider’s stock after selling 1,232,382 shares during the period. Zimmer Partners LP owned about 0.44% of Great Plains Energy worth $30,715,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Nova Scotia Trust Co. bought a new position in Great Plains Energy during the third quarter worth about $109,000. Cerebellum GP LLC bought a new position in Great Plains Energy during the fourth quarter worth about $123,000. Advisory Services Network LLC lifted its stake in Great Plains Energy by 62.7% during the fourth quarter. Advisory Services Network LLC now owns 5,950 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 2,294 shares during the period. ING Groep NV bought a new position in Great Plains Energy during the fourth quarter worth about $204,000. Finally, MAI Capital Management bought a new position in Great Plains Energy during the fourth quarter worth about $210,000. Institutional investors and hedge funds own 86.07% of the company’s stock.
A number of research analysts have commented on GXP shares. Zacks Investment Research cut shares of Great Plains Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. SunTrust Banks restated a “hold” rating and set a $31.00 price target on shares of Great Plains Energy in a research note on Tuesday, December 26th. ValuEngine upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. JPMorgan Chase & Co. cut their price target on shares of Great Plains Energy from $37.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Finally, UBS Group began coverage on shares of Great Plains Energy in a research note on Friday, February 2nd. They set a “neutral” rating and a $32.00 price target for the company. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $31.86.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. Great Plains Energy had a negative net margin of 3.92% and a positive return on equity of 5.25%. The firm had revenue of $597.70 million for the quarter, compared to analysts’ expectations of $606.26 million. During the same period in the previous year, the firm posted $0.13 EPS. equities analysts forecast that Great Plains Energy Incorporated will post 1.82 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Tuesday, February 27th will be given a dividend of $0.275 per share. The ex-dividend date is Monday, February 26th. This represents a $1.10 annualized dividend and a yield of 3.62%. Great Plains Energy’s dividend payout ratio (DPR) is presently -169.23%.
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Great Plains Energy 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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