Great Plains Energy Inc. (NYSE:GXP) – Research analysts at SunTrust Banks lowered their Q3 2017 EPS estimates for Great Plains Energy in a report released on Thursday. SunTrust Banks analyst A. Agha now expects that the brokerage will post earnings of $0.86 per share for the quarter, down from their previous estimate of $0.90. SunTrust Banks has a “Neutral” rating and a $30.00 price objective on the stock. SunTrust Banks also issued estimates for Great Plains Energy’s FY2017 earnings at $1.73 EPS, Q1 2018 earnings at $0.17 EPS and FY2018 earnings at $1.75 EPS.
Several other equities research analysts have also commented on the company. Zacks Investment Research lowered Great Plains Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Argus restated a “buy” rating and set a $36.00 price target on shares of Great Plains Energy in a research note on Friday. Barclays PLC upgraded Great Plains Energy from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $31.00 to $29.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their price target on Great Plains Energy from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, July 15th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.71.
Shares of Great Plains Energy (NYSE:GXP) traded down 1.66% during midday trading on Friday, hitting $27.29. The stock had a trading volume of 7,024,753 shares. The stock has a 50 day moving average of $27.53 and a 200-day moving average of $29.83. Great Plains Energy has a one year low of $25.44 and a one year high of $32.74. The company has a market cap of $4.22 billion, a P/E ratio of 20.41 and a beta of 0.43.
Great Plains Energy (NYSE:GXP) last issued its earnings results on Thursday, August 4th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.16. Great Plains Energy had a return on equity of 7.16% and a net margin of 8.03%. During the same quarter last year, the firm posted $0.28 EPS.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Monday, August 29th were issued a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date was Thursday, August 25th. Great Plains Energy’s dividend payout ratio is currently 78.36%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Great Plains Energy during the fourth quarter worth approximately $38,605,000. Acadian Asset Management LLC acquired a new position in shares of Great Plains Energy during the first quarter worth approximately $386,000. Aperio Group LLC increased its position in shares of Great Plains Energy by 9.2% in the first quarter. Aperio Group LLC now owns 69,531 shares of the company’s stock worth $2,242,000 after buying an additional 5,833 shares in the last quarter. Virginia Retirement System acquired a new position in shares of Great Plains Energy during the first quarter worth approximately $1,248,000. Finally, IFP Advisors Inc increased its position in shares of Great Plains Energy by 16.4% in the first quarter. IFP Advisors Inc now owns 7,594 shares of the company’s stock worth $245,000 after buying an additional 1,069 shares in the last quarter. 80.49% of the stock is owned by hedge funds and other institutional investors.
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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