Teachers Retirement System of The State of Kentucky increased its stake in Great Plains Energy Incorporated (NYSE:GXP) by 10.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,063 shares of the utilities provider’s stock after purchasing an additional 3,900 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Great Plains Energy were worth $1,388,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Bank of Nova Scotia Trust Co. acquired a new stake in Great Plains Energy during the 3rd quarter valued at approximately $109,000. Cerebellum GP LLC acquired a new stake in Great Plains Energy during the 4th quarter valued at approximately $123,000. Advisory Services Network LLC lifted its stake in Great Plains Energy by 62.7% during the 4th quarter. Advisory Services Network LLC now owns 5,950 shares of the utilities provider’s stock valued at $192,000 after acquiring an additional 2,294 shares during the period. ING Groep NV acquired a new stake in Great Plains Energy during the 4th quarter valued at approximately $204,000. Finally, MAI Capital Management acquired a new stake in Great Plains Energy during the 4th quarter valued at approximately $210,000. Institutional investors own 85.99% of the company’s stock.
GXP stock opened at $30.46 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.29 and a debt-to-equity ratio of 0.67. Great Plains Energy Incorporated has a 12 month low of $27.60 and a 12 month high of $34.72. The stock has a market cap of $6,597.20, a price-to-earnings ratio of 17.58, a P/E/G ratio of 3.37 and a beta of 0.43.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 20th. Investors of record on Tuesday, February 27th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Monday, February 26th. Great Plains Energy’s dividend payout ratio is currently -169.23%.
Several brokerages have commented on GXP. Zacks Investment Research cut shares of Great Plains Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. UBS began coverage on shares of Great Plains Energy in a research note on Friday, February 2nd. They set a “neutral” rating and a $32.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of Great Plains Energy from $37.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. 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 upgraded shares of Great Plains Energy to a “buy” rating and set a $26.00 price objective for the company in a research note 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 company. Great Plains Energy has an average rating of “Buy” and an average target price of $31.86.
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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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