Great Plains Energy Inc (GXP) Rating Reiterated by SunTrust Banks, Inc.
Great Plains Energy Inc (NYSE:GXP)‘s stock had its “hold” rating reissued by equities researchers at SunTrust Banks, Inc. in a research note issued to investors on Wednesday. They presently have a $30.00 target price on the utilities provider’s stock. SunTrust Banks, Inc.’s target price suggests a potential downside of 1.80% from the company’s current price.
Several other equities research analysts have also commented on the stock. J P Morgan Chase & Co raised shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and upped their price target for the company from $31.00 to $32.00 in a report on Tuesday, July 11th. Wells Fargo & Company raised Great Plains Energy from a “market perform” rating to an “outperform” rating in a research report on Monday. BidaskClub upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Zacks Investment Research lowered Great Plains Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Finally, KeyCorp reissued a “hold” rating on shares of Great Plains Energy in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Great Plains Energy has an average rating of “Buy” and an average price target of $30.86.
Great Plains Energy (GXP) traded up 0.75% on Wednesday, hitting $30.78. The stock had a trading volume of 2,995,867 shares. The company’s 50 day moving average is $30.80 and its 200-day moving average is $29.80. The stock has a market cap of $6.63 billion, a P/E ratio of 36.51 and a beta of 0.44. Great Plains Energy has a 12 month low of $25.85 and a 12 month high of $31.69.
Great Plains Energy (NYSE:GXP) last released its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.04). The business had revenue of $682.60 million during the quarter, compared to analysts’ expectations of $677.00 million. Great Plains Energy had a net margin of 8.00% and a return on equity of 5.62%. During the same period last year, the company earned $0.55 earnings per share. Analysts forecast that Great Plains Energy will post $1.60 EPS for the current year.
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In other Great Plains Energy news, VP Lori A. Wright sold 7,668 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $30.54, for a total value of $234,180.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Heather A. Humphrey sold 3,500 shares of the firm’s 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. Insiders sold 27,391 shares of company stock valued at $838,626 in the last ninety days. 0.41% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its stake in shares of Great Plains Energy by 17.9% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 3,420 shares of the utilities provider’s stock worth $100,000 after buying an additional 520 shares during the period. Proficio Capital Partners LLC lifted its position in shares of Great Plains Energy by 312.2% during the 1st quarter. Proficio Capital Partners LLC now owns 3,710 shares of the utilities provider’s stock valued at $107,000 after buying an additional 2,810 shares in the last quarter. Ffcm LLC lifted its position in shares of Great Plains Energy by 171.5% during the 2nd quarter. Ffcm LLC now owns 4,018 shares of the utilities provider’s stock valued at $118,000 after buying an additional 2,538 shares in the last quarter. First Command Bank lifted its position in shares of Great Plains Energy by 100.0% during the 2nd quarter. First Command Bank now owns 4,400 shares of the utilities provider’s stock valued at $128,000 after buying an additional 2,200 shares in the last quarter. Finally, Advisory Services Network LLC grew its stake in Great Plains Energy by 0.9% in the 2nd quarter. Advisory Services Network LLC now owns 4,793 shares of the utilities provider’s stock valued at $140,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 87.90% of the company’s stock.
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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