Great Plains Energy Inc (GXP) to Issue Quarterly Dividend of $0.28 on December 20th
Great Plains Energy Inc (NYSE:GXP) declared a quarterly dividend on Tuesday, October 31st, RTT News reports. Investors of record on Wednesday, November 29th will be given a dividend of 0.275 per share by the utilities provider on Wednesday, December 20th. This represents a $1.10 annualized dividend and a yield of 3.20%. The ex-dividend date is Monday, November 27th.
Great Plains Energy has increased its dividend payment by an average of 6.4% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Great Plains Energy has a dividend payout ratio of 62.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Great Plains Energy to earn $1.82 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 60.4%.
Great Plains Energy (NYSE:GXP) opened at $34.35 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.24 and a debt-to-equity ratio of 0.65. Great Plains Energy has a 1 year low of $25.85 and a 1 year high of $34.46. The stock has a market capitalization of $7,407.99, a P/E ratio of 19.74, a P/E/G ratio of 3.53 and a beta of 0.47.
Great Plains Energy (NYSE:GXP) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.09. Great Plains Energy had a return on equity of 5.41% and a net margin of 3.42%. The business had revenue of $857.20 million for the quarter, compared to analyst estimates of $805.72 million. During the same period last year, the company earned $1.00 EPS. analysts predict that Great Plains Energy will post 1.77 earnings per share for the current year.
In other news, SVP Heather A. Humphrey sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $30.86, for a total value of $108,010.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Terry D. Bassham sold 6,370 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $30.54, for a total value of $194,539.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,391 shares of company stock valued at $838,626. 0.41% of the stock is currently owned by company insiders.
GXP has been the topic of several recent research reports. Zacks Investment Research lowered Great Plains Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $30.00 price objective on shares of Great Plains Energy in a research report on Wednesday, October 4th. BidaskClub upgraded Great Plains Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. ValuEngine upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, KeyCorp reiterated a “hold” rating on shares of Great Plains Energy in a research report on Friday, September 1st. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $32.00.
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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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