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.
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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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