Osborne Partners Capital Management LLC reduced its stake in shares of Great Plains Energy Inc (NYSE:GXP) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,541 shares of the utilities provider’s stock after selling 300 shares during the period. Osborne Partners Capital Management LLC’s holdings in Great Plains Energy were worth $894,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Boston Partners raised its stake in Great Plains Energy by 33.5% in the first quarter. Boston Partners now owns 6,790,947 shares of the utilities provider’s stock valued at $198,431,000 after buying an additional 1,705,973 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Great Plains Energy during the first quarter valued at about $31,166,000. Marshall Wace North America L.P. acquired a new stake in Great Plains Energy during the first quarter valued at about $31,166,000. Vanguard Group Inc. increased its stake in Great Plains Energy by 5.5% in the first quarter. Vanguard Group Inc. now owns 19,489,178 shares of the utilities provider’s stock valued at $569,474,000 after buying an additional 1,007,461 shares during the last quarter. Finally, Morgan Stanley increased its stake in Great Plains Energy by 45.7% in the first quarter. Morgan Stanley now owns 1,661,567 shares of the utilities provider’s stock valued at $48,553,000 after buying an additional 521,501 shares during the last quarter. Institutional investors own 87.70% of the company’s stock.
Great Plains Energy Inc (GXP) opened at 30.89 on Friday. The company has a 50 day moving average of $30.21 and a 200-day moving average of $29.07. Great Plains Energy Inc has a one year low of $25.85 and a one year high of $31.69. The stock has a market capitalization of $6.66 billion, a P/E ratio of 36.64 and a beta of 0.44.
Great Plains Energy (NYSE:GXP) last announced its earnings results on Wednesday, August 9th. The utilities provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by $0.04. Great Plains Energy had a net margin of 8.00% and a return on equity of 5.62%. The firm had revenue of $682.60 million for the quarter, compared to analyst estimates of $677 million. During the same period in the previous year, the company earned $0.55 EPS. Equities research analysts predict that Great Plains Energy Inc will post $1.66 earnings per share for the current fiscal 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 $0.275 dividend. The ex-dividend date is Friday, August 25th. This represents a $1.10 annualized dividend and a dividend yield of 3.56%. Great Plains Energy’s dividend payout ratio is presently 105.77%.
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Several analysts recently issued reports on the stock. BidaskClub raised shares of Great Plains Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Zacks Investment Research raised shares of Great Plains Energy from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Tuesday, May 23rd. Finally, J P Morgan Chase & Co raised shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $31.00 to $32.00 in a research report on Tuesday, July 11th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target 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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