Vanguard Group Inc. increased its stake in shares of Great Plains Energy Inc. (NYSE:GXP) by 14.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,136,467 shares of the company’s stock after buying an additional 1,697,073 shares during the period. Vanguard Group Inc. owned approximately 8.50% of Great Plains Energy worth $399,348,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Institutional Trust Company N.A. raised its position in Great Plains Energy by 2.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,535,827 shares of the company’s stock valued at $146,280,000 after buying an additional 120,339 shares during the last quarter. Boston Partners raised its position in shares of Great Plains Energy by 12.0% in the second quarter. Boston Partners now owns 4,326,511 shares of the company’s stock worth $131,526,000 after buying an additional 462,867 shares in the last quarter. State Street Corp raised its position in shares of Great Plains Energy by 1.4% in the first quarter. State Street Corp now owns 4,186,725 shares of the company’s stock worth $135,024,000 after buying an additional 59,124 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of 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 in the last quarter. Finally, AJO LP raised its position in shares of Great Plains Energy by 35.5% in the second quarter. AJO LP now owns 1,784,227 shares of the company’s stock worth $54,241,000 after buying an additional 467,095 shares in the last quarter. Institutional investors own 80.49% of the company’s stock.
Shares of Great Plains Energy Inc. (NYSE:GXP) traded down 0.49% during midday trading on Thursday, reaching $26.47. 323,393 shares of the company were exchanged. The stock has a market capitalization of $4.09 billion, a P/E ratio of 19.80 and a beta of 0.45. The company has a 50 day moving average price of $27.42 and a 200-day moving average price of $29.72. Great Plains Energy Inc. has a 12-month low of $25.44 and a 12-month high of $32.74.
Great Plains Energy (NYSE:GXP) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm earned $0.28 earnings per share. On average, analysts forecast that Great Plains Energy Inc. will post $1.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Shareholders of record on Monday, August 29th were paid a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Thursday, August 25th. Great Plains Energy’s dividend payout ratio (DPR) is presently 78.36%.
GXP has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Great Plains Energy from $31.00 to $32.00 and gave the stock 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 target price for the company in a research report on Tuesday, August 2nd. SunTrust Banks Inc. cut their target price 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. Barclays PLC upgraded shares of Great Plains Energy from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $31.00 to $29.00 in a research report on Thursday, September 29th. Finally, Argus reiterated a “buy” rating and set a $36.00 target price on shares of Great Plains Energy in a research report on Friday, September 30th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Great Plains Energy presently has a consensus rating of “Hold” and an average target price of $31.29.
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).
Receive News & Ratings for Great Plains Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Great Plains Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.