Zacks Investment Research upgraded shares of Great Plains Energy Inc (NYSE:GXP) from a sell rating to a hold rating in a report issued on Friday, July 14th.
According to Zacks, “Great Plains Energy Incorporated engages in the generation, transmission, distribution and sale of electricity to customers located in all or portions of numerous counties in western Missouri and eastern Kansas. Customers include residences, commercial firms, and industrials, municipalities and other electric utilities. “
Other equities research analysts have also issued research reports about the stock. BidaskClub upgraded shares of Great Plains Energy from a sell rating to a hold rating in a report on Wednesday, June 14th. J P Morgan Chase & Co upgraded shares of Great Plains Energy from a neutral rating to an overweight rating and increased their price target for the stock from $31.00 to $32.00 in a research note on Tuesday, July 11th. Finally, Evercore ISI reaffirmed an outperform rating and set a $31.00 price objective on shares of Great Plains Energy in a report on Thursday, March 30th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $31.56.
Shares of Great Plains Energy (GXP) opened at 30.89 on Friday. Great Plains Energy 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. The stock has a 50 day moving average price of $30.21 and a 200 day moving average price of $29.07.
Great Plains Energy (NYSE:GXP) last released its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 quarter in the prior year, the firm earned $0.55 EPS. Equities analysts forecast that Great Plains Energy will post $1.66 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.56%. Great Plains Energy’s dividend payout ratio (DPR) is presently 105.77%.
Several hedge funds have recently bought and sold shares of GXP. Nomura Asset Management Co. Ltd. increased its stake in 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 worth $100,000 after buying an additional 520 shares during the period. Proficio Capital Partners LLC increased its stake in 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 worth $107,000 after buying an additional 2,810 shares during the period. Ffcm LLC increased its position in shares of Great Plains Energy by 171.5% in the second quarter. Ffcm LLC now owns 4,018 shares of the utilities provider’s stock worth $118,000 after buying an additional 2,538 shares during the last quarter. First Command Bank increased 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 worth $128,000 after buying an additional 2,200 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Great Plains Energy during the first quarter worth $139,000. Institutional investors own 87.70% of the company’s stock.
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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