Great Plains Energy Inc (GXP) Shares Bought by Loomis Sayles & Co. L P
Loomis Sayles & Co. L P increased its stake in Great Plains Energy Inc (NYSE:GXP) by 128.3% during the first quarter, Holdings Channel reports. The fund owned 9,919 shares of the utilities provider’s stock after buying an additional 5,574 shares during the period. Loomis Sayles & Co. L P’s holdings in Great Plains Energy were worth $290,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Boston Partners raised its stake in Great Plains Energy by 33.5% in the first quarter. Boston Partners now owns 6,790,947 shares of the utilities provider’s stock valued at $198,431,000 after buying an additional 1,705,973 shares during the last quarter. FMR LLC raised its stake in Great Plains Energy by 19.3% in the fourth quarter. FMR LLC now owns 4,320,307 shares of the utilities provider’s stock valued at $118,161,000 after buying an additional 700,407 shares during the last quarter. Luminus Management LLC bought a new stake in Great Plains Energy during the fourth quarter valued at about $18,753,000. Victory Capital Management Inc. raised its stake in Great Plains Energy by 93.4% in the first quarter. Victory Capital Management Inc. now owns 920,668 shares of the utilities provider’s stock valued at $26,901,000 after buying an additional 444,546 shares during the last quarter. Finally, CIBC World Markets Inc. bought a new stake in Great Plains Energy during the first quarter valued at about $11,688,000. Institutional investors and hedge funds own 88.38% of the company’s stock.
Great Plains Energy (NYSE:GXP) last posted its earnings results on Thursday, May 4th. The utilities provider reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Great Plains Energy had a net margin of 9.50% and a return on equity of 6.52%. The firm had revenue of $570.70 million for the quarter, compared to analysts’ expectations of $584.92 million. During the same quarter last year, the firm earned $0.17 EPS.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Tuesday, May 30th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, May 25th. This represents a $1.10 annualized dividend and a dividend yield of 3.73%. Great Plains Energy’s dividend payout ratio is currently 82.09%.
GXP has been the topic of several analyst reports. Zacks Investment Research lowered Great Plains Energy from a “hold” rating to a “sell” rating in a report on Tuesday, March 21st. Barclays PLC reiterated an “equal weight” rating and set a $30.00 target price (up previously from $27.00) on shares of Great Plains Energy in a report on Saturday, March 11th. Finally, Evercore ISI restated an “outperform” rating and issued a $31.00 price objective on shares of Great Plains Energy in a research note on Thursday, March 30th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Great Plains Energy presently has a consensus rating of “Buy” and a consensus target price of $31.75.
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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