Vident Investment Advisory LLC Invests $331,000 in Great Plains Energy Incorporated (GXP)
Vident Investment Advisory LLC bought a new position in Great Plains Energy Incorporated (NYSE:GXP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,908 shares of the utilities provider’s stock, valued at approximately $331,000.
Other large investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its position in Great Plains Energy by 9.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 260,571 shares of the utilities provider’s stock valued at $7,630,000 after purchasing an additional 22,120 shares during the period. Magellan Asset Management Ltd raised its position in Great Plains Energy by 6.9% during the second quarter. Magellan Asset Management Ltd now owns 144,315 shares of the utilities provider’s stock valued at $4,226,000 after purchasing an additional 9,293 shares during the period. Ontario Teachers Pension Plan Board purchased a new stake in Great Plains Energy during the second quarter valued at approximately $772,000. Virginia Retirement Systems ET AL raised its position in Great Plains Energy by 24.7% during the second quarter. Virginia Retirement Systems ET AL now owns 73,600 shares of the utilities provider’s stock valued at $2,155,000 after purchasing an additional 14,600 shares during the period. Finally, Pacer Advisors Inc. raised its position in Great Plains Energy by 11.4% during the third quarter. Pacer Advisors Inc. now owns 37,171 shares of the utilities provider’s stock valued at $1,126,000 after purchasing an additional 3,812 shares during the period. Institutional investors own 87.07% of the company’s stock.
A number of equities research analysts have issued reports on the company. Wells Fargo & Company upgraded Great Plains Energy from a “market perform” rating to an “outperform” rating in a research report on Monday, October 2nd. J P Morgan Chase & Co set a $35.00 price objective on Great Plains Energy and gave the company a “buy” rating in a research report on Thursday, October 12th. SunTrust Banks restated a “hold” rating and set a $30.00 price objective on shares of Great Plains Energy in a research report on Wednesday, October 4th. Zacks Investment Research raised Great Plains Energy from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Wednesday, October 11th. Finally, ValuEngine raised Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.00.
Great Plains Energy (NYSE:GXP) last released its earnings results on Wednesday, November 1st. The utilities provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. The firm had revenue of $857.20 million for the quarter, compared to analysts’ expectations 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 in the prior year, the firm posted $1.00 earnings per share. sell-side analysts forecast that Great Plains Energy Incorporated will post 1.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 29th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, November 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.40%. Great Plains Energy’s dividend payout ratio is 550.03%.
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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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