People s United Financial Inc. lifted its stake in Great Plains Energy Inc (NYSE:GXP) by 2.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,406 shares of the utilities provider’s stock after purchasing an additional 280 shares during the quarter. People s United Financial Inc.’s holdings in Great Plains Energy were worth $393,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in GXP. FMR LLC raised its position in shares of Great Plains Energy by 90.3% in the 2nd quarter. FMR LLC now owns 8,745,550 shares of the utilities provider’s stock valued at $256,070,000 after purchasing an additional 4,150,082 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of Great Plains Energy in the 2nd quarter valued at approximately $104,441,000. Commonwealth Bank of Australia purchased a new position in shares of Great Plains Energy in the 2nd quarter valued at approximately $53,387,000. Principal Financial Group Inc. raised its position in shares of Great Plains Energy by 96.3% in the 2nd quarter. Principal Financial Group Inc. now owns 3,476,540 shares of the utilities provider’s stock valued at $101,793,000 after purchasing an additional 1,705,459 shares during the last quarter. Finally, Marshall Wace North America L.P. raised its position in shares of Great Plains Energy by 97.4% in the 2nd quarter. Marshall Wace North America L.P. now owns 2,121,534 shares of the utilities provider’s stock valued at $61,525,000 after purchasing an additional 1,046,835 shares during the last quarter. 87.90% of the stock is owned by hedge funds and other institutional investors.

GXP has been the subject of several research analyst reports. Zacks Investment Research raised shares of Great Plains Energy from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Tuesday, July 25th. KeyCorp reaffirmed a “hold” rating on shares of Great Plains Energy in a research report on Friday, September 1st. BidaskClub raised shares of Great Plains Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Wells Fargo & Company raised shares of Great Plains Energy from a “market perform” rating to an “outperform” rating in a research report on Monday, October 2nd. Finally, J P Morgan Chase & Co raised shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $31.00 to $32.00 in a research report on Tuesday, July 11th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Great Plains Energy has an average rating of “Buy” and an average target price of $30.86.

In other news, CFO Kevin E. Bryant sold 9,853 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $30.64, for a total value of $301,895.92. Following the completion of the sale, the chief financial officer now directly owns 38,003 shares of the company’s stock, valued at $1,164,411.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Heather A. Humphrey sold 3,500 shares of the 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 over the last three months. Corporate insiders own 0.41% of the company’s stock.

Great Plains Energy Inc (GXP) opened at 30.77 on Friday. Great Plains Energy Inc has a 52-week low of $25.85 and a 52-week high of $31.69. The firm’s 50-day moving average is $30.75 and its 200-day moving average is $29.82. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 36.50 and a beta of 0.44.

Great Plains Energy (NYSE:GXP) last posted its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.04). The firm had revenue of $682.60 million during the quarter, compared to analyst estimates 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 in the previous year, the company posted $0.55 earnings per share. Analysts predict that Great Plains Energy Inc will post $1.60 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Tuesday, August 29th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Friday, August 25th. Great Plains Energy’s payout ratio is currently 105.77%.

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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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Institutional Ownership by Quarter for Great Plains Energy (NYSE:GXP)

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