Barber Financial Group Inc. Invests $239,000 in Great Plains Energy Inc (GXP) Stock
Barber Financial Group Inc. acquired a new stake in Great Plains Energy Inc (NYSE:GXP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,904 shares of the utilities provider’s stock, valued at approximately $239,000.
A number of other large investors also recently added to or reduced their stakes in GXP. Nomura Asset Management Co. Ltd. raised its position 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 valued at $100,000 after purchasing an additional 520 shares during the period. Ffcm LLC raised its position in Great Plains Energy by 171.5% in the second quarter. Ffcm LLC now owns 4,018 shares of the utilities provider’s stock valued at $118,000 after purchasing an additional 2,538 shares during the period. Advisory Services Network LLC raised its position in Great Plains Energy by 0.9% in the second quarter. Advisory Services Network LLC now owns 4,793 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 45 shares during the period. HL Financial Services LLC purchased a new position in Great Plains Energy in the third quarter valued at about $205,000. Finally, CIBC Asset Management Inc purchased a new position in Great Plains Energy in the third quarter valued at about $211,000. 87.80% of the stock is currently owned by institutional investors.
Shares of Great Plains Energy Inc (GXP) traded up $0.29 during trading on Friday, hitting $33.99. The stock had a trading volume of 998,000 shares, compared to its average volume of 2,240,766. 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 firm has a market capitalization of $7,340.00, a P/E ratio of 19.37, a PEG ratio of 3.46 and a beta of 0.46. Great Plains Energy Inc has a 12 month low of $25.85 and a 12 month high of $34.09.
Great Plains Energy (NYSE:GXP) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.09. The business had revenue of $857.20 million during the quarter, compared to the consensus estimate of $805.72 million. Great Plains Energy had a return on equity of 5.41% and a net margin of 3.42%. During the same period last year, the firm earned $1.00 earnings per share. sell-side analysts expect that Great Plains Energy Inc will post 1.77 earnings per share for the current year.
The business also recently announced 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 of this dividend is Monday, November 27th. This represents a $1.10 dividend on an annualized basis and a yield of 3.24%. Great Plains Energy’s payout ratio is currently 578.95%.
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In other news, VP Lori A. Wright sold 7,668 shares of Great Plains Energy stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $30.54, for a total transaction of $234,180.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Heather A. Humphrey sold 3,500 shares of Great Plains Energy stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $30.86, for a total value of $108,010.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,391 shares of company stock valued at $838,626. 0.41% of the stock is currently owned by insiders.
GXP has been the topic of several research reports. ValuEngine raised Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Bank of America Corporation began coverage on Great Plains Energy in a research note on Tuesday, October 24th. They set a “buy” rating and a $35.00 target price for the company. J P Morgan Chase & Co set a $35.00 target price on Great Plains Energy and gave the company a “buy” rating in a research note on Thursday, October 12th. Zacks Investment Research upgraded Great Plains Energy from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, October 11th. Finally, BidaskClub upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Five equities 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 presently has a consensus rating of “Buy” and a consensus target price 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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