National Planning Corp Acquires Shares of 7,738 Great Plains Energy Inc (GXP)
National Planning Corp acquired a new position in Great Plains Energy Inc (NYSE:GXP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 7,738 shares of the utilities provider’s stock, valued at approximately $226,000.
Other hedge funds also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its stake in Great Plains Energy by 17.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 3,420 shares of the utilities provider’s stock worth $100,000 after buying an additional 520 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in Great Plains Energy by 312.2% in the first quarter. Proficio Capital Partners LLC now owns 3,710 shares of the utilities provider’s stock worth $107,000 after buying an additional 2,810 shares during the last quarter. First Command Bank boosted its stake in Great Plains Energy by 100.0% in the second quarter. First Command Bank now owns 4,400 shares of the utilities provider’s stock worth $128,000 after buying an additional 2,200 shares during the last quarter. Advisory Services Network LLC bought a new stake in Great Plains Energy during the first quarter worth $139,000. Finally, Mckinley Capital Management LLC Delaware bought a new stake in Great Plains Energy during the first quarter worth $141,000. 87.79% of the stock is currently owned by institutional investors.
Great Plains Energy Inc (GXP) opened at 31.41 on Wednesday. Great Plains Energy Inc has a one year low of $25.85 and a one year high of $31.69. The stock has a 50 day moving average of $30.31 and a 200-day moving average of $29.16. The firm has a market capitalization of $6.77 billion, a PE ratio of 37.26 and a beta of 0.44.
Great Plains Energy (NYSE:GXP) last announced its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.04. Great Plains Energy had a return on equity of 5.62% and a net margin of 8.00%. The firm had revenue of $682.60 million for the quarter, compared to the consensus estimate of $677 million. During the same quarter last year, the business earned $0.55 earnings per share. On average, equities analysts predict that Great Plains Energy Inc will post $1.66 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Tuesday, August 29th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.50%. The ex-dividend date is Friday, August 25th. Great Plains Energy’s dividend payout ratio (DPR) is presently 105.77%.
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GXP has been the topic of a number of research analyst reports. BidaskClub raised shares of Great Plains Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research raised shares of Great Plains Energy from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Tuesday, July 25th. Finally, J P Morgan Chase & Co raised shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $31.00 to $32.00 in a report on Tuesday, July 11th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.56.
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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