Great Plains Energy Incorporated (NYSE:GXP) – Stock analysts at Gabelli dropped their FY2019 earnings estimates for Great Plains Energy in a research note issued on Thursday. Gabelli analyst T. Winter now expects that the utilities provider will post earnings per share of $2.00 for the year, down from their prior forecast of $2.05.
GXP has been the subject of several other reports. Zacks Investment Research downgraded Great Plains Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, February 8th. Barclays PLC reaffirmed an “equal weight” rating and set a $30.00 target price (up from $27.00) on shares of Great Plains Energy in a research note on Saturday, March 11th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $31.00 target price on shares of Great Plains Energy in a research note on Thursday, March 30th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Great Plains Energy currently has a consensus rating of “Buy” and a consensus price target of $31.88.
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Shares of Great Plains Energy (NYSE:GXP) traded up 0.10% during trading on Friday, hitting $29.58. 2,985,413 shares of the stock traded hands. The stock has a 50 day moving average of $29.03 and a 200 day moving average of $27.85. Great Plains Energy has a 52-week low of $25.85 and a 52-week high of $32.24. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 18.37 and a beta of 0.40.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings data on Thursday, February 23rd. The utilities provider reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.03. Great Plains Energy had a net margin of 8.06% and a return on equity of 7.87%. The firm had revenue of $576.30 million for the quarter, compared to analysts’ expectations of $570.88 million. During the same quarter in the prior year, the business earned $0.15 EPS.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Investment Management LLC increased its position in Great Plains Energy by 17.5% in the third quarter. BlackRock Investment Management LLC now owns 638,290 shares of the utilities provider’s stock valued at $17,419,000 after buying an additional 95,048 shares in the last quarter. American International Group Inc. increased its position in Great Plains Energy by 33.4% in the third quarter. American International Group Inc. now owns 399,108 shares of the utilities provider’s stock valued at $10,892,000 after buying an additional 99,846 shares in the last quarter. Renaissance Technologies LLC increased its position in Great Plains Energy by 9.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,121,915 shares of the utilities provider’s stock valued at $30,684,000 after buying an additional 98,900 shares in the last quarter. Rhumbline Advisers increased its position in Great Plains Energy by 3.5% in the third quarter. Rhumbline Advisers now owns 242,811 shares of the utilities provider’s stock valued at $6,626,000 after buying an additional 8,123 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Great Plains Energy by 51.4% in the third quarter. Principal Financial Group Inc. now owns 1,380,744 shares of the utilities provider’s stock valued at $37,681,000 after buying an additional 469,056 shares in the last quarter. 90.15% of the stock is owned by hedge funds and other institutional investors.
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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