Great Plains Energy Inc (NYSE:GXP) announced a quarterly dividend on Tuesday, October 31st, RTT News reports. Shareholders of record on Wednesday, November 29th will be given a dividend of 0.275 per share by the utilities provider on Wednesday, December 20th. This represents a $1.10 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Monday, November 27th.
Great Plains Energy has increased its dividend by an average of 6.4% per year over the last three years and has increased its dividend every year for the last 6 years. Great Plains Energy has a payout ratio of 62.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Great Plains Energy to earn $1.82 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 60.4%.
Great Plains Energy (NYSE GXP) traded down 0.30% during midday trading on Tuesday, reaching $32.75. 92,218 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $31.22 and its 200 day moving average is $30.18. The stock has a market cap of $7.06 billion, a P/E ratio of 38.85 and a beta of 0.44. Great Plains Energy has a 1-year low of $25.85 and a 1-year high of $32.97.
Great Plains Energy (NYSE:GXP) last announced its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.04). The business had revenue of $682.60 million during the quarter, compared to the consensus estimate of $677.00 million. Great Plains Energy had a return on equity of 5.62% and a net margin of 8.00%. During the same period in the prior year, the firm earned $0.55 EPS. Equities analysts anticipate that Great Plains Energy will post $1.74 earnings per share for the current fiscal year.
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In related news, SVP Heather A. Humphrey sold 3,500 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $30.86, for a total transaction of $108,010.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Lori A. Wright sold 7,668 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $30.54, for a total transaction of $234,180.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,391 shares of company stock worth $838,626. 0.41% of the stock is owned by corporate insiders.
A number of analysts have recently commented on GXP shares. Zacks Investment Research lowered shares of Great Plains Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. SunTrust Banks, Inc. reissued a “hold” rating and issued a $30.00 price objective on shares of Great Plains Energy in a research report on Wednesday, October 4th. BidaskClub raised shares of Great Plains Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. KeyCorp reissued a “hold” rating on shares of Great Plains Energy in a research report on Friday, September 1st. Finally, J P Morgan Chase & Co set a $35.00 price objective on shares of Great Plains Energy and gave the stock a “buy” rating in a research report on Thursday, October 12th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Great Plains Energy currently has a consensus rating of “Buy” and a consensus price target of $32.00.
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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