Shares of Great Plains Energy Inc. (NYSE:GXP) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $29.20.

A number of analysts have weighed in on GXP shares. Barclays PLC cut Great Plains Energy from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $28.97 to $28.00 in a research report on Thursday, June 2nd. Zacks Investment Research cut Great Plains Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. SunTrust Banks Inc. reduced their price target on Great Plains Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, August 29th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Great Plains Energy in a research report on Tuesday, July 19th.

A number of institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC raised its position in shares of Great Plains Energy by 233.3% in the second quarter. Acrospire Investment Management LLC now owns 4,000 shares of the company’s stock valued at $122,000 after buying an additional 2,800 shares in the last quarter. Assetmark Inc. purchased a new position in shares of Great Plains Energy during the second quarter valued at about $131,000. Public Employees Retirement Association of Colorado raised its position in shares of Great Plains Energy by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 4,966 shares of the company’s stock valued at $151,000 after buying an additional 14 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Great Plains Energy by 912.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,001 shares of the company’s stock valued at $152,000 after buying an additional 4,507 shares in the last quarter. Finally, CENTRAL TRUST Co raised its position in shares of Great Plains Energy by 12.9% in the second quarter. CENTRAL TRUST Co now owns 5,112 shares of the company’s stock valued at $155,000 after buying an additional 585 shares in the last quarter. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Shares of Great Plains Energy (NYSE:GXP) opened at 26.80 on Tuesday. Great Plains Energy has a one year low of $25.00 and a one year high of $32.74. The company has a 50 day moving average price of $28.22 and a 200 day moving average price of $30.09. The company has a market cap of $4.14 billion, a P/E ratio of 20.04 and a beta of 0.43.

Great Plains Energy (NYSE:GXP) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.16. Great Plains Energy had a return on equity of 7.16% and a net margin of 8.03%. During the same period in the previous year, the company earned $0.28 earnings per share. Equities research analysts expect that Great Plains Energy will post $1.74 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Monday, August 29th will be paid a dividend of $0.2625 per share. The ex-dividend date is Thursday, August 25th. This represents a $1.05 annualized dividend and a yield of 3.92%. Great Plains Energy’s dividend payout ratio is 78.36%.

About Great Plains Energy

Great Plains Energy Incorporated is a public utility holding company. The Company operates through electric utility segment. The Company does not own or operate any assets other than the stock of its subsidiaries. The Company’s subsidiaries with operations include Kansas City Power & Light Company (KCP&L) and KCP&L Greater Missouri Operations Company (GMO).

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