Raymond James & Associates lifted its position in Great Plains Energy Incorporated (NYSE:GXP) by 156.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,363,767 shares of the utilities provider’s stock after buying an additional 832,197 shares during the quarter. Raymond James & Associates’ holdings in Great Plains Energy were worth $43,968,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of GXP. Bank of Nova Scotia Trust Co. acquired a new stake in Great Plains Energy in the 3rd quarter worth approximately $109,000. Cerebellum GP LLC acquired a new stake in Great Plains Energy in the 4th quarter worth approximately $123,000. Advisory Services Network LLC boosted its stake in Great Plains Energy by 62.7% in the 4th 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 in the last quarter. ING Groep NV acquired a new stake in Great Plains Energy in the 4th quarter worth approximately $204,000. Finally, HL Financial Services LLC acquired a new stake in Great Plains Energy in the 3rd quarter worth approximately $205,000. 86.07% of the stock is currently owned by hedge funds and other institutional investors.
GXP has been the subject of a number of recent analyst reports. SunTrust Banks set a $29.00 target price on shares of Great Plains Energy and gave the stock a “hold” rating in a research note on Tuesday, January 16th. 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. ValuEngine upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. TheStreet cut shares of Great Plains Energy from a “b-” rating to a “c” rating in a research note on Thursday, February 22nd. Finally, Morgan Stanley raised shares of Great Plains Energy to a “buy” rating and set a $26.00 target price for the company in a report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $31.86.
Great Plains Energy (NYSE:GXP) last posted its earnings results on Wednesday, February 21st. The utilities provider reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $597.70 million during the quarter, compared to analyst estimates of $606.26 million. Great Plains Energy had a negative net margin of 3.92% and a positive return on equity of 5.25%. During the same period in the previous year, the firm earned $0.13 EPS. sell-side analysts anticipate that Great Plains Energy Incorporated will post 1.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Tuesday, February 27th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.65%. The ex-dividend date is Monday, February 26th. Great Plains Energy’s payout ratio is presently -169.23%.
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Great Plains Energy Company 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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