Zacks Investment Research upgraded shares of Great Plains Energy Inc (NYSE:GXP) from a hold rating to a buy rating in a report issued on Tuesday morning. The brokerage currently has $34.00 target price on the utilities provider’s stock.

According to Zacks, “Great Plains Energy Incorporated engages in the generation, transmission, distribution and sale of electricity to customers located in all or portions of numerous counties in western Missouri and eastern Kansas. Customers include residences, commercial firms, and industrials, municipalities and other electric utilities. “

A number of other brokerages also recently issued reports on GXP. BidaskClub upgraded Great Plains Energy from a hold rating to a buy rating in a report on Wednesday, June 21st. J P Morgan Chase & Co raised Great Plains Energy from a neutral rating to an overweight rating and raised their price objective for the stock from $31.00 to $32.00 in a research report on Tuesday, July 11th. Finally, Evercore ISI reissued an outperform rating and issued a $31.00 price objective on shares of Great Plains Energy in a research report on Thursday, March 30th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Great Plains Energy has an average rating of Buy and a consensus target price of $31.56.

Shares of Great Plains Energy (NYSE GXP) traded up 0.36% on Tuesday, hitting $30.74. The stock had a trading volume of 3,878,390 shares. The company has a market cap of $6.62 billion, a P/E ratio of 25.47 and a beta of 0.44. The company’s 50 day moving average price is $29.77 and its 200-day moving average price is $28.81. Great Plains Energy has a 12 month low of $25.85 and a 12 month high of $30.81.

Great Plains Energy (NYSE:GXP) last announced its quarterly earnings results on Thursday, May 4th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. Great Plains Energy had a return on equity of 6.52% and a net margin of 9.50%. The business had revenue of $570.70 million for the quarter, compared to the consensus estimate of $584.92 million. During the same period last year, the business posted $0.17 EPS. On average, analysts expect that Great Plains Energy will post $1.66 earnings per share for the current year.

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Several hedge funds have recently bought and sold shares of GXP. Capstone Asset Management Co. boosted its stake in shares of Great Plains Energy by 0.4% in the second quarter. Capstone Asset Management Co. now owns 19,562 shares of the utilities provider’s stock worth $573,000 after buying an additional 70 shares in the last quarter. Utah Retirement Systems boosted its stake in shares of Great Plains Energy by 0.3% in the first quarter. Utah Retirement Systems now owns 39,301 shares of the utilities provider’s stock worth $1,148,000 after buying an additional 100 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Great Plains Energy by 1.4% in the first quarter. Oppenheimer & Co. Inc. now owns 10,966 shares of the utilities provider’s stock worth $321,000 after buying an additional 147 shares in the last quarter. World Asset Management Inc boosted its stake in shares of Great Plains Energy by 1.1% in the second quarter. World Asset Management Inc now owns 14,690 shares of the utilities provider’s stock worth $430,000 after buying an additional 153 shares in the last quarter. Finally, UMB Bank N A MO boosted its stake in shares of Great Plains Energy by 0.3% in the first quarter. UMB Bank N A MO now owns 52,607 shares of the utilities provider’s stock worth $1,537,000 after buying an additional 164 shares in the last quarter. 88.24% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Great Plains Energy (NYSE:GXP)

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