Barings LLC Has $366,000 Holdings in Great Plains Energy Inc (GXP)
Barings LLC continued to hold its position in Great Plains Energy Inc (NYSE:GXP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,537 shares of the utilities provider’s stock at the close of the 2nd quarter. Barings LLC’s holdings in Great Plains Energy were worth $366,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of GXP. FMR LLC increased its position in Great Plains Energy by 90.3% in the second quarter. FMR LLC now owns 8,745,550 shares of the utilities provider’s stock worth $256,070,000 after buying an additional 4,150,082 shares in the last quarter. Jennison Associates LLC purchased a new stake in Great Plains Energy in the second quarter worth about $104,441,000. Commonwealth Bank of Australia purchased a new stake in Great Plains Energy in the second quarter worth about $53,387,000. Principal Financial Group Inc. increased its position in Great Plains Energy by 96.3% in the second quarter. Principal Financial Group Inc. now owns 3,476,540 shares of the utilities provider’s stock worth $101,793,000 after buying an additional 1,705,459 shares in the last quarter. Finally, Marshall Wace North America L.P. increased its position in Great Plains Energy by 97.4% in the second quarter. Marshall Wace North America L.P. now owns 2,121,534 shares of the utilities provider’s stock worth $61,525,000 after buying an additional 1,046,835 shares in the last quarter. Institutional investors own 87.90% of the company’s stock.
A number of brokerages have commented on GXP. Wells Fargo & Company upgraded Great Plains Energy from a “market perform” rating to an “outperform” rating in a research report on Monday, October 2nd. J P Morgan Chase & Co upgraded Great Plains Energy from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $31.00 to $32.00 in a research report on Tuesday, July 11th. BidaskClub upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research upgraded Great Plains Energy from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Tuesday, July 25th. Finally, KeyCorp restated a “hold” rating on shares of Great Plains Energy in a research report on Friday, September 1st. Four 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 stock. Great Plains Energy has an average rating of “Buy” and a consensus target price of $31.43.
Great Plains Energy Inc (GXP) opened at 32.07 on Thursday. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 38.04 and a beta of 0.44. The stock has a 50 day moving average price of $30.87 and a 200-day moving average price of $29.99. Great Plains Energy Inc has a 1-year low of $25.85 and a 1-year high of $32.23.
Great Plains Energy (NYSE:GXP) last announced its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $682.60 million during the quarter, compared to analysts’ expectations of $677.00 million. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, equities research analysts forecast that Great Plains Energy Inc will post $1.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Tuesday, August 29th were paid a $0.275 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $1.10 annualized dividend and a dividend yield of 3.43%. Great Plains Energy’s dividend payout ratio is presently 105.77%.
In other Great Plains Energy news, SVP Heather A. Humphrey sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $30.86, for a total transaction of $108,010.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin E. Bryant sold 9,853 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $30.64, for a total value of $301,895.92. Following the sale, the chief financial officer now owns 38,003 shares of the company’s stock, valued at $1,164,411.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,391 shares of company stock valued at $838,626. 0.41% of the stock is owned by company insiders.
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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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