Candriam Luxembourg S.C.A. Takes Position in Great Plains Energy Inc (GXP)
Candriam Luxembourg S.C.A. bought a new position 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 bought 15,054 shares of the utilities provider’s stock, valued at approximately $456,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Ffcm LLC grew its stake in shares of Great Plains Energy by 171.5% in the second quarter. Ffcm LLC now owns 4,018 shares of the utilities provider’s stock worth $118,000 after purchasing an additional 2,538 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of 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 worth $140,000 after purchasing an additional 45 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Great Plains Energy in the second quarter worth about $219,000. National Planning Corp bought a new stake in shares of Great Plains Energy in the second quarter worth about $226,000. Finally, Advisor Group Inc. grew its stake in shares of Great Plains Energy by 14.3% in the second quarter. Advisor Group Inc. now owns 8,751 shares of the utilities provider’s stock worth $233,000 after purchasing an additional 1,097 shares during the last quarter. 90.72% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on the company. Bank of America Corporation assumed coverage on Great Plains Energy in a research note on Tuesday, October 24th. They issued a “buy” rating and a $35.00 target price on the stock. SunTrust Banks, Inc. restated a “hold” rating and issued a $30.00 price objective on shares of Great Plains Energy in a report on Wednesday, October 4th. Wells Fargo & Company upgraded shares of Great Plains Energy from a “market perform” rating to an “outperform” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Great Plains Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, ValuEngine upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Five equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Great Plains Energy currently has a consensus rating of “Buy” and a consensus target price of $32.00.
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Shares of Great Plains Energy Inc (NYSE:GXP) opened at $33.99 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.44 and a debt-to-equity ratio of 0.65. Great Plains Energy Inc has a 1-year low of $25.85 and a 1-year high of $34.09. The company has a market cap of $7,343.28, a PE ratio of 19.57, a price-to-earnings-growth ratio of 3.50 and a beta of 0.47.
Great Plains Energy (NYSE:GXP) last released its earnings results on Wednesday, November 1st. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.09. Great Plains Energy had a net margin of 3.42% and a return on equity of 5.41%. The firm had revenue of $857.20 million during the quarter, compared to analyst estimates of $805.72 million. During the same period last year, the business earned $1.00 earnings per share. equities analysts anticipate that Great Plains Energy Inc will post 1.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 29th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, November 27th. This represents a $1.10 annualized dividend and a dividend yield of 3.24%. Great Plains Energy’s payout ratio is 550.03%.
In other news, CFO Kevin E. Bryant sold 9,853 shares of Great Plains Energy stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $30.64, for a total transaction of $301,895.92. Following the completion of the transaction, the chief financial officer now directly owns 38,003 shares in the company, valued at $1,164,411.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $108,010.00. The disclosure for this sale can be found here. Insiders have sold 27,391 shares of company stock valued at $838,626 over the last quarter. Company insiders own 0.41% of the company’s stock.
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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