Barclays PLC upgraded shares of Great Plains Energy Inc. (NYSE:GXP) from an underweight rating to an equal weight rating in a report issued on Thursday. The brokerage currently has $29.00 target price on the stock, down from their previous target price of $31.00.
A number of other equities analysts have also issued reports on GXP. JPMorgan Chase & Co. increased their target price on shares of Great Plains Energy from $31.00 to $32.00 and gave the company a neutral rating in a research report on Friday, July 15th. Zacks Investment Research upgraded shares of Great Plains Energy from a hold rating to a buy rating and set a $33.00 price objective for the company in a research report on Tuesday, August 2nd. Finally, SunTrust Banks Inc. reduced their price objective on shares of Great Plains Energy from $30.00 to $29.00 and set a neutral rating for the company in a research report on Monday, August 29th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Great Plains Energy currently has an average rating of Hold and a consensus price target of $30.43.
Shares of Great Plains Energy (NYSE:GXP) traded down 0.9953% during trading on Thursday, reaching $27.4738. 1,007,969 shares of the company traded hands. Great Plains Energy has a 12 month low of $25.44 and a 12 month high of $32.74. The firm has a 50-day moving average price of $27.57 and a 200-day moving average price of $29.86. The firm has a market capitalization of $4.24 billion, a PE ratio of 20.5488 and a beta of 0.43.
Great Plains Energy (NYSE:GXP) last announced its earnings results on Thursday, August 4th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.16. Great Plains Energy had a net margin of 8.03% and a return on equity of 7.16%. During the same period last year, the firm posted $0.28 earnings per share. Equities research analysts anticipate that Great Plains Energy will post $1.73 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Monday, August 29th were issued a $0.2625 dividend. This represents a $1.05 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Thursday, August 25th. Great Plains Energy’s payout ratio is 78.36%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Great Plains Energy by 14.8% in the second quarter. Vanguard Group Inc. now owns 13,136,467 shares of the company’s stock worth $399,348,000 after buying an additional 1,697,073 shares during the period. Norges Bank bought a new stake in Great Plains Energy during the fourth quarter worth about $38,605,000. Bank of New York Mellon Corp raised its stake in Great Plains Energy by 34.1% in the second quarter. Bank of New York Mellon Corp now owns 4,080,570 shares of the company’s stock worth $124,049,000 after buying an additional 1,038,260 shares during the period. Old Mutual Global Investors UK Ltd. bought a new stake in Great Plains Energy during the second quarter worth about $28,397,000. Finally, Prudential Financial Inc. raised its stake in Great Plains Energy by 962.8% in the second quarter. Prudential Financial Inc. now owns 971,802 shares of the company’s stock worth $29,543,000 after buying an additional 880,368 shares during the period. Institutional investors own 80.49% of the company’s stock.
About Great Plains Energy
Great Plains Energy Incorporated is a public utility holding company. The Company operates through electric utility segment. The Company does not own or operate any assets other than the stock of its subsidiaries. The Company’s subsidiaries with operations include Kansas City Power & Light Company (KCP&L) and KCP&L Greater Missouri Operations Company (GMO).
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