Financial Engines Advisors L.L.C. decreased its stake in Great Plains Energy Inc (NYSE:GXP) by 14.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,727 shares of the utilities provider’s stock after selling 8,741 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Great Plains Energy were worth $1,515,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of GXP. Nomura Asset Management Co. Ltd. boosted its position in shares of Great Plains Energy by 17.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 3,420 shares of the utilities provider’s stock valued at $100,000 after buying an additional 520 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of Great Plains Energy by 312.2% in the first quarter. Proficio Capital Partners LLC now owns 3,710 shares of the utilities provider’s stock valued at $107,000 after buying an additional 2,810 shares in the last quarter. First Command Bank boosted its position in shares of Great Plains Energy by 100.0% in the second quarter. First Command Bank now owns 4,400 shares of the utilities provider’s stock valued at $128,000 after buying an additional 2,200 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Great Plains Energy during the first quarter valued at $139,000. Finally, Mckinley Capital Management LLC Delaware acquired a new position in shares of Great Plains Energy during the first quarter valued at $141,000. 87.70% of the stock is owned by institutional investors.
Shares of Great Plains Energy Inc (NYSE GXP) opened at 31.18 on Friday. The stock has a 50 day moving average price of $30.17 and a 200 day moving average price of $29.04. Great Plains Energy Inc has a 12-month low of $25.85 and a 12-month high of $31.69. The firm has a market cap of $6.71 billion, a P/E ratio of 25.83 and a beta of 0.44.
Great Plains Energy (NYSE:GXP) last announced its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.04. Great Plains Energy had a return on equity of 5.74% and a net margin of 8.00%. The company had revenue of $682.60 million for the quarter, compared to the consensus estimate of $677 million. During the same quarter last year, the company posted $0.55 EPS. On average, equities analysts expect that Great Plains Energy Inc will post $1.66 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Tuesday, August 29th will be issued a dividend of $0.275 per share. The ex-dividend date is Friday, August 25th. This represents a $1.10 annualized dividend and a yield of 3.53%. Great Plains Energy’s dividend payout ratio (DPR) is currently 105.77%.
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Several equities analysts have recently weighed in on the stock. J P Morgan Chase & Co raised shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $31.00 to $32.00 in a research note on Tuesday, July 11th. Zacks Investment Research raised shares of Great Plains Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, April 19th. Finally, BidaskClub raised shares of Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $31.56.
About Great Plains Energy
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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