Great Plains Energy Inc. (NYSE:GXP)‘s stock had its “buy” rating reaffirmed by investment analysts at Argus in a research report issued to clients and investors on Friday. They presently have a $36.00 price objective on the stock. Argus’ target price would indicate a potential upside of 32.11% from the company’s previous close.
A number of other brokerages have also recently issued reports on GXP. JPMorgan Chase & Co. upped their target price on shares of Great Plains Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, July 15th. Zacks Investment Research raised shares of Great Plains Energy from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday, August 2nd. Barclays PLC cut shares of Great Plains Energy from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $28.97 to $28.00 in a report on Thursday, June 2nd. Finally, SunTrust Banks Inc. upped their target price on shares of Great Plains Energy from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, September 26th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Great Plains Energy presently has an average rating of “Hold” and a consensus price target of $31.29.
Great Plains Energy (NYSE:GXP) opened at 27.25 on Friday. Great Plains Energy has a 52 week low of $25.44 and a 52 week high of $32.74. The firm’s 50-day moving average is $27.50 and its 200-day moving average is $29.78. The company has a market cap of $4.21 billion, a PE ratio of 20.38 and a beta of 0.45.
Great Plains Energy (NYSE:GXP) last issued 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 in the previous year, the business posted $0.28 EPS. On average, analysts expect that Great Plains Energy will post $1.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Monday, August 29th were paid a $0.2625 dividend. The ex-dividend date was Thursday, August 25th. This represents a $1.05 dividend on an annualized basis and a yield of 3.85%. Great Plains Energy’s dividend payout ratio (DPR) is currently 78.36%.
A number of hedge funds and other institutional investors have recently made changes to their positions in GXP. Norges Bank bought a new position in shares of Great Plains Energy during the fourth quarter worth approximately $38,605,000. Acadian Asset Management LLC bought a new position in shares of Great Plains Energy during the first quarter worth approximately $386,000. Aperio Group LLC raised 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 during the period. Virginia Retirement System bought a new position in shares of Great Plains Energy during the first quarter worth approximately $1,248,000. Finally, IFP Advisors Inc raised 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 during the period. Institutional investors and hedge funds 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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