Capital Fund Management S.A. Buys Shares of 29,856 Great Plains Energy Inc (GXP)

Capital Fund Management S.A. bought a new stake in shares of Great Plains Energy Inc (NYSE:GXP) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 29,856 shares of the utilities provider’s stock, valued at approximately $874,000.

Other institutional investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. lifted its stake in Great Plains Energy by 17.9% during the first quarter. Nomura Asset Management Co. Ltd. now owns 3,420 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 520 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in Great Plains Energy by 312.2% during the first quarter. Proficio Capital Partners LLC now owns 3,710 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 2,810 shares during the last quarter. Ffcm LLC lifted its stake in Great Plains Energy by 171.5% during the second quarter. Ffcm LLC now owns 4,018 shares of the utilities provider’s stock worth $118,000 after purchasing an additional 2,538 shares during the last quarter. First Command Bank lifted its stake in Great Plains Energy by 100.0% during the second quarter. First Command Bank now owns 4,400 shares of the utilities provider’s stock worth $128,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware acquired a new stake in Great Plains Energy in the first quarter worth $141,000. Institutional investors own 88.63% of the company’s stock.

Great Plains Energy Inc (NYSE GXP) opened at 30.84 on Friday. The firm has a 50-day moving average price of $31.03 and a 200 day moving average price of $29.64. Great Plains Energy Inc has a 12 month low of $25.85 and a 12 month high of $31.69. The company has a market capitalization of $6.64 billion, a P/E ratio of 36.58 and a beta of 0.45.

Great Plains Energy (NYSE:GXP) last announced its earnings results on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.04). The firm had revenue of $682.60 million for the quarter, compared to the consensus estimate of $677.00 million. Great Plains Energy had a return on equity of 5.62% and a net margin of 8.00%. During the same quarter last year, the business posted $0.55 EPS. Analysts expect that Great Plains Energy Inc will post $1.60 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Tuesday, August 29th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, August 25th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.56%. Great Plains Energy’s dividend payout ratio (DPR) is currently 105.77%.

Several equities research analysts have weighed in on the company. J P Morgan Chase & Co raised Great Plains Energy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $31.00 to $32.00 in a research report on Tuesday, July 11th. BidaskClub raised Great Plains Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research raised Great Plains Energy from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Tuesday, July 25th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Great Plains Energy in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $31.56.

TRADEMARK VIOLATION NOTICE: “Capital Fund Management S.A. Buys Shares of 29,856 Great Plains Energy Inc (GXP)” was published by Transcript Daily and is the property of of Transcript Daily. If you are reading this piece on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece can be read at https://transcriptdaily.com/2017/09/17/capital-fund-management-s-a-buys-shares-of-29856-great-plains-energy-inc-gxp.html.

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.

Want to see what other hedge funds are holding GXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Great Plains Energy Inc (NYSE:GXP).

Institutional Ownership by Quarter for Great Plains Energy (NYSE:GXP)

Receive News & Ratings for Great Plains Energy Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Great Plains Energy Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply