Great Plains Energy Inc (NYSE:GXP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Great Plains Energy Incorporated engages in the generation, transmission, distribution and sale of electricity to customers located in all or portions of numerous counties in western Missouri and eastern Kansas. Customers include residences, commercial firms, and industrials, municipalities and other electric utilities. “
A number of other brokerages also recently issued reports on GXP. J P Morgan Chase & Co set a $35.00 price target on Great Plains Energy and gave the company a “buy” rating in a research report on Thursday, October 12th. KeyCorp reiterated a “hold” rating on shares of Great Plains Energy in a research report on Friday, September 1st. BidaskClub upgraded Great Plains Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. ValuEngine upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, Wells Fargo & Company upgraded Great Plains Energy from a “market perform” rating to an “outperform” rating in a research report on Monday, October 2nd. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $32.00.
Shares of Great Plains Energy (GXP) opened at $33.99 on Wednesday. The stock has a market capitalization of $7,330.00, a PE ratio of 19.37, a PEG ratio of 3.46 and a beta of 0.46. The company has a current ratio of 1.44, a quick ratio of 1.24 and a debt-to-equity ratio of 0.65. Great Plains Energy has a 12-month low of $25.85 and a 12-month high of $34.09.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.09. The firm had revenue of $857.20 million during the quarter, compared to the consensus estimate 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 last year, the company posted $1.00 EPS. sell-side analysts forecast that Great Plains Energy will post 1.77 earnings per share for the current year.
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In other Great Plains Energy news, VP Lori A. Wright sold 7,668 shares of Great Plains Energy stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $30.54, for a total value of $234,180.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Terry D. Bassham sold 6,370 shares of Great Plains Energy stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $30.54, for a total value of $194,539.80. The disclosure for this sale can be found here. Insiders sold a total of 27,391 shares of company stock valued at $838,626 in the last 90 days. 0.41% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in GXP. Nomura Asset Management Co. Ltd. increased its stake in Great Plains Energy by 17.9% in the 1st 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 period. Bank of Nova Scotia Trust Co. purchased a new position in Great Plains Energy in the 3rd quarter worth approximately $109,000. Ffcm LLC increased its stake in Great Plains Energy by 171.5% in the 2nd 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 period. Advisory Services Network LLC increased its stake in Great Plains Energy by 0.9% in the 2nd quarter. Advisory Services Network LLC now owns 4,793 shares of the utilities provider’s stock worth $140,000 after purchasing an additional 45 shares during the period. Finally, HL Financial Services LLC purchased a new position in Great Plains Energy in the 3rd quarter worth approximately $205,000. 87.80% of the stock is currently owned by institutional investors and hedge funds.
Great Plains Energy Company 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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