M&T Bank Corp increased its position in Great Plains Energy Incorporated (NYSE:GXP) by 9.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 127,163 shares of the utilities provider’s stock after buying an additional 10,693 shares during the period. M&T Bank Corp owned approximately 0.06% of Great Plains Energy worth $3,716,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Zimmer Partners LP increased its position in shares of Great Plains Energy by 40.6% in the fourth quarter. Zimmer Partners LP now owns 7,065,211 shares of the utilities provider’s stock worth $193,234,000 after buying an additional 2,038,612 shares during the last quarter. Boston Partners increased its position in shares of Great Plains Energy by 33.5% in the first quarter. Boston Partners now owns 6,790,947 shares of the utilities provider’s stock worth $198,431,000 after buying an additional 1,705,973 shares during the last quarter. FMR LLC increased its position in shares of Great Plains Energy by 19.3% in the fourth quarter. FMR LLC now owns 4,320,307 shares of the utilities provider’s stock worth $118,161,000 after buying an additional 700,407 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Great Plains Energy by 27.4% in the fourth quarter. Two Sigma Investments LP now owns 3,797,319 shares of the utilities provider’s stock worth $103,857,000 after buying an additional 817,654 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Great Plains Energy by 9.0% in the fourth quarter. Marshall Wace LLP now owns 2,731,528 shares of the utilities provider’s stock worth $74,707,000 after buying an additional 225,537 shares during the last quarter. 90.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Great Plains Energy Incorporated (NYSE:GXP) traded up 1.60% on Friday, hitting $28.52. The stock had a trading volume of 3,404,317 shares. The company’s 50 day moving average price is $28.97 and its 200-day moving average price is $28.05. Great Plains Energy Incorporated has a 12 month low of $25.85 and a 12 month high of $31.24. The company has a market cap of $6.14 billion, a P/E ratio of 23.63 and a beta of 0.40.
Great Plains Energy (NYSE:GXP) last announced its earnings results on Thursday, May 4th. The utilities provider reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Great Plains Energy had a return on equity of 7.87% and a net margin of 8.06%. The firm had revenue of $570.70 million for the quarter, compared to the consensus estimate of $584.92 million. During the same period in the previous year, the business earned $0.17 EPS. On average, analysts expect that Great Plains Energy Incorporated will post $1.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Tuesday, May 30th will be paid a dividend of $0.275 per share. The ex-dividend date is Thursday, May 25th. This represents a $1.10 annualized dividend and a yield of 3.92%. Great Plains Energy’s dividend payout ratio (DPR) is 79.71%.
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GXP has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Great Plains Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 8th. Barclays PLC reaffirmed an “equal weight” rating and set a $30.00 price target (up from $27.00) on shares of Great Plains Energy in a report on Saturday, March 11th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $31.00 price target on shares of Great Plains Energy in a report on Thursday, March 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Great Plains Energy currently has a consensus rating of “Hold” and a consensus price target of $31.88.
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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