Korea Electric Power (NYSE:KEP) Shares Gap Down Following Analyst Downgrade

Korea Electric Power Corporation (NYSE:KEP)’s share price gapped down prior to trading on Wednesday after Morgan Stanley downgraded the stock from an equal weight rating to an underweight rating. The stock had previously closed at $13.12, but opened at $12.42. Korea Electric Power shares last traded at $12.4340, with a volume of 369,095 shares changing hands.

Several other equities analysts have also recently commented on KEP. Bank of America cut Korea Electric Power from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 31st. Wall Street Zen downgraded Korea Electric Power from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Zacks Research cut shares of Korea Electric Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 31st. Finally, Weiss Ratings raised shares of Korea Electric Power from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Hedge Funds Weigh In On Korea Electric Power

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Trust Asset Management LLC purchased a new position in shares of Korea Electric Power during the 1st quarter valued at about $28,000. Smartleaf Asset Management LLC purchased a new stake in Korea Electric Power in the third quarter worth approximately $29,000. Rockefeller Capital Management L.P. grew its position in Korea Electric Power by 47.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 724 shares during the last quarter. TD Private Client Wealth LLC purchased a new position in shares of Korea Electric Power during the third quarter worth approximately $33,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Korea Electric Power during the fourth quarter worth approximately $45,000.

Korea Electric Power Trading Down 5.2%

The stock has a market capitalization of $15.97 billion, a P/E ratio of 2.63, a price-to-earnings-growth ratio of 1.91 and a beta of 0.99. The stock’s fifty day moving average price is $15.06 and its two-hundred day moving average price is $17.25. The company has a current ratio of 0.46, a quick ratio of 0.31 and a debt-to-equity ratio of 1.70.

Korea Electric Power (NYSE:KEP) last issued its earnings results on Saturday, February 14th. The utilities provider reported ($0.10) EPS for the quarter. The business had revenue of $13.61 billion during the quarter. Korea Electric Power had a return on equity of 18.76% and a net margin of 8.80%. Equities research analysts forecast that Korea Electric Power Corporation will post 3.29 EPS for the current year.

Korea Electric Power Company Profile

Korea Electric Power (KEP) is a South Korea–based integrated electric utility engaged in the generation, transmission and distribution of electricity. The company’s activities span power plant operation and maintenance, grid management, fuel procurement and power trading, as well as engineering, procurement and construction (EPC) services for large-scale power projects. Its asset base includes a mix of thermal, nuclear, hydro and renewable generation capacity, and the company supports system planning and reliability functions for the national electricity network.

In addition to core utility operations, KEP provides a range of technical and consulting services tied to power infrastructure, including plant construction, refurbishment and decommissioning support.