12,420 Shares in Great Plains Energy Inc (GXP) Acquired by Tdam USA Inc.
Tdam USA Inc. purchased a new stake in shares of Great Plains Energy Inc (NYSE:GXP) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 12,420 shares of the utilities provider’s stock, valued at approximately $376,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Great Plains Energy by 90.3% in the 2nd quarter. FMR LLC now owns 8,745,550 shares of the utilities provider’s stock worth $256,070,000 after purchasing an additional 4,150,082 shares during the period. Janus Henderson Group PLC bought a new position in Great Plains Energy in the 2nd quarter worth $116,876,000. Jennison Associates LLC raised its holdings in Great Plains Energy by 11.4% in the 3rd quarter. Jennison Associates LLC now owns 3,974,140 shares of the utilities provider’s stock worth $120,416,000 after purchasing an additional 407,182 shares during the period. Principal Financial Group Inc. raised its holdings in Great Plains Energy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 3,596,059 shares of the utilities provider’s stock worth $108,959,000 after purchasing an additional 119,519 shares during the period. Finally, Boston Partners raised its holdings in Great Plains Energy by 24.6% in the 3rd quarter. Boston Partners now owns 2,350,394 shares of the utilities provider’s stock worth $71,217,000 after purchasing an additional 463,582 shares during the period. 90.72% of the stock is currently owned by hedge funds and other institutional investors.
In other Great Plains Energy news, SVP Heather A. Humphrey sold 3,500 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $30.86, for a total value of $108,010.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Lori A. Wright sold 7,668 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $30.54, for a total value of $234,180.72. The disclosure for this sale can be found here. Insiders sold a total of 27,391 shares of company stock valued at $838,626 in the last quarter. 0.41% of the stock is currently owned by company insiders.
Shares of Great Plains Energy Inc (NYSE:GXP) opened at $34.35 on Friday. Great Plains Energy Inc has a 12 month low of $25.85 and a 12 month high of $34.46. The company has a quick ratio of 1.24, a current ratio of 1.44 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $7,407.99, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 3.53 and a beta of 0.47.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.09. Great Plains Energy had a return on equity of 5.41% and a net margin of 3.42%. The business had revenue of $857.20 million during the quarter, compared to analyst estimates of $805.72 million. During the same quarter in the prior year, the business posted $1.00 EPS. equities analysts expect that Great Plains Energy Inc will post 1.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 29th will be paid a $0.275 dividend. The ex-dividend date is Monday, November 27th. This represents a $1.10 dividend on an annualized basis and a yield of 3.20%. Great Plains Energy’s payout ratio is presently 550.03%.
A number of brokerages recently commented on GXP. Wells Fargo & Company raised Great Plains Energy from a “market perform” rating to an “outperform” rating in a report on Monday, October 2nd. Zacks Investment Research raised Great Plains Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub raised Great Plains Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. J P Morgan Chase & Co set a $35.00 target price on Great Plains Energy and gave the stock a “buy” rating in a report on Thursday, October 12th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Great Plains Energy in a report on Friday, September 1st. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Great Plains Energy currently has a consensus rating of “Buy” and an average target price of $32.00.
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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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