IFP Advisors Inc Has $512,000 Holdings in Great Plains Energy Inc (GXP)
IFP Advisors Inc raised its stake in Great Plains Energy Inc (NYSE:GXP) by 10.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,902 shares of the utilities provider’s stock after buying an additional 1,653 shares during the quarter. IFP Advisors Inc’s holdings in Great Plains Energy were worth $512,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in GXP. FMR LLC lifted its stake in Great Plains Energy by 90.3% in the second quarter. FMR LLC now owns 8,745,550 shares of the utilities provider’s stock valued at $256,070,000 after buying an additional 4,150,082 shares during the period. Janus Henderson Group PLC acquired a new position in Great Plains Energy in the second quarter valued at about $116,876,000. Jennison Associates LLC acquired a new position in Great Plains Energy in the second quarter valued at about $104,441,000. Commonwealth Bank of Australia acquired a new position in Great Plains Energy in the second quarter valued at about $53,387,000. Finally, Principal Financial Group Inc. lifted its stake in Great Plains Energy by 96.3% in the second quarter. Principal Financial Group Inc. now owns 3,476,540 shares of the utilities provider’s stock valued at $101,793,000 after buying an additional 1,705,459 shares during the period. 87.83% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Lori A. Wright sold 7,668 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $30.54, for a total transaction of $234,180.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Terry D. Bassham sold 6,370 shares of the stock in a transaction dated Monday, September 18th. The stock was 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 ninety days, insiders have sold 27,391 shares of company stock worth $838,626. 0.41% of the stock is currently owned by insiders.
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Several research firms have weighed in on GXP. Zacks Investment Research lowered Great Plains Energy from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. BidaskClub raised Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Wells Fargo & Company raised Great Plains Energy from a “market perform” rating to an “outperform” rating in a research note on Monday, October 2nd. J P Morgan Chase & Co set a $35.00 target price on Great Plains Energy and gave the company a “buy” rating in a research note on Thursday, October 12th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and issued a $30.00 target price on shares of Great Plains Energy in a research note on Wednesday, October 4th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Great Plains Energy presently has a consensus rating of “Buy” and a consensus price target of $32.00.
Shares of Great Plains Energy Inc (GXP) opened at $33.28 on Monday. The company has a market capitalization of $7,177.22, a PE ratio of 19.13, a PEG ratio of 3.42 and a beta of 0.47. 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 Inc has a 1 year low of $25.85 and a 1 year high of $33.35.
Great Plains Energy (NYSE:GXP) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.09. The company had revenue of $857.20 million for the quarter, compared to analyst estimates of $805.72 million. Great Plains Energy had a return on equity of 5.41% and a net margin of 3.42%. During the same quarter last year, the firm posted $1.00 earnings per share. research analysts forecast that Great Plains Energy Inc will post 1.77 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 29th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Monday, November 27th. Great Plains Energy’s dividend payout ratio is currently 550.03%.
Great Plains Energy 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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