Great Plains Energy Inc (GXP) Hits New 1-Year High at $33.22
Great Plains Energy Inc (NYSE:GXP)’s share price reached a new 52-week high on Friday . The stock traded as high as $33.22 and last traded at $0.00, with a volume of shares trading hands.
GXP has been the topic of several recent research reports. J P Morgan Chase & Co upgraded shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $31.00 to $32.00 in a report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Great Plains Energy from a “sell” rating to a “hold” rating in a report on Friday, July 14th. BidaskClub upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. KeyCorp reaffirmed a “hold” rating on shares of Great Plains Energy in a research note on Friday, September 1st. Finally, Wells Fargo & Company raised shares of Great Plains Energy from a “market perform” rating to an “outperform” rating in a research note on Monday, October 2nd. Four investment 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’s stock. The company has an average rating of “Buy” and an average target price of $32.00.
The stock has a market cap of $7.08 billion, a P/E ratio of 18.86, a PEG ratio of 3.39 and a beta of 0.47. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.44 and a quick ratio of 4.33.
Great Plains Energy (NYSE:GXP) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $805.72 million. During the same quarter in the previous year, the firm posted $1.00 EPS. equities research analysts expect that Great Plains Energy Inc will post 1.76 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, November 29th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Monday, November 27th. Great Plains Energy’s dividend payout ratio (DPR) is 550.03%.
In other news, SVP Heather A. Humphrey sold 3,500 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $30.86, for a total value of $108,010.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Terry D. Bassham sold 6,370 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $30.54, for a total transaction of $194,539.80. 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 three months. Insiders own 0.41% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its position in shares of Great Plains Energy by 24.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,621,560 shares of the utilities provider’s stock worth $49,133,000 after purchasing an additional 316,610 shares during the last quarter. HL Financial Services LLC bought a new stake in shares of Great Plains Energy in the 3rd quarter worth about $205,000. Jennison Associates LLC increased its position in shares of 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 last quarter. Candriam Luxembourg S.C.A. bought a new stake in shares of Great Plains Energy in the 3rd quarter worth about $456,000. Finally, Advantus Capital Management Inc increased its position in shares of Great Plains Energy by 44.0% in the 3rd quarter. Advantus Capital Management Inc now owns 123,619 shares of the utilities provider’s stock worth $3,746,000 after purchasing an additional 37,800 shares during the last quarter. 88.04% of the stock is owned by institutional investors.
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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