Great Plains Energy Inc (GXP) Shares Bought by Principal Financial Group Inc.
Principal Financial Group Inc. raised its position in Great Plains Energy Inc (NYSE:GXP) by 96.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,476,540 shares of the utilities provider’s stock after buying an additional 1,705,459 shares during the period. Principal Financial Group Inc. owned approximately 1.61% of Great Plains Energy worth $101,793,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Capstone Asset Management Co. boosted its position in Great Plains Energy by 1.8% in the first quarter. Capstone Asset Management Co. now owns 19,492 shares of the utilities provider’s stock worth $570,000 after buying an additional 350 shares during the last quarter. Shell Asset Management Co. acquired a new position in Great Plains Energy during the first quarter worth about $1,092,000. Oregon Public Employees Retirement Fund boosted its position in Great Plains Energy by 5.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 75,748 shares of the utilities provider’s stock worth $2,213,000 after buying an additional 4,158 shares during the last quarter. Advisory Services Network LLC acquired a new position in Great Plains Energy during the first quarter worth about $139,000. Finally, Great West Life Assurance Co. Can boosted its position in Great Plains Energy by 4.8% in the first quarter. Great West Life Assurance Co. Can now owns 304,890 shares of the utilities provider’s stock worth $8,912,000 after buying an additional 13,859 shares during the last quarter. Hedge funds and other institutional investors own 88.62% of the company’s stock.
Great Plains Energy Inc (NYSE GXP) opened at 30.75 on Friday. The company has a market capitalization of $6.62 billion, a PE ratio of 36.48 and a beta of 0.45. The company has a 50 day moving average price of $30.86 and a 200-day moving average price of $29.49. Great Plains Energy Inc has a one year low of $25.85 and a one year high of $31.69.
Great Plains Energy (NYSE:GXP) last released its quarterly earnings results 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. Great Plains Energy had a net margin of 8.00% and a return on equity of 5.62%. The firm had revenue of $682.60 million for the quarter, compared to the consensus estimate of $677 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Analysts expect that Great Plains Energy Inc will post $1.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Tuesday, August 29th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $1.10 annualized dividend and a dividend yield of 3.58%. Great Plains Energy’s dividend payout ratio is presently 105.77%.
GXP has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Great Plains Energy from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, May 23rd. BidaskClub upgraded Great Plains Energy from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. J P Morgan Chase & Co upgraded Great Plains Energy from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $31.00 to $32.00 in a report on Tuesday, July 11th. Finally, KeyCorp restated a “hold” rating on shares of Great Plains Energy in a report on Friday. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $31.56.
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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