Zacks Investment Research upgraded shares of Great Plains Energy Incorporated (NYSE:GXP) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. The firm currently has $32.00 target price on the utilities provider’s stock.
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. “
Several other analysts have also issued reports on GXP. Barclays PLC reissued an equal weight rating and issued a $30.00 price target (up previously from $27.00) on shares of Great Plains Energy in a research report on Saturday, March 11th. Evercore ISI reaffirmed an outperform rating and set a $31.00 target price on shares of Great Plains Energy in a report on Thursday, March 30th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $31.75.
Great Plains Energy (NYSE:GXP) opened at 29.09 on Tuesday. Great Plains Energy has a 12 month low of $25.85 and a 12 month high of $31.24. The firm’s 50 day moving average is $28.95 and its 200-day moving average is $28.08. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 24.10 and a beta of 0.40.
Great Plains Energy (NYSE:GXP) last posted its quarterly earnings results on Thursday, May 4th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. Great Plains Energy had a net margin of 8.06% and a return on equity of 7.87%. The company had revenue of $570.70 million for the quarter, compared to analyst estimates of $584.92 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. On average, equities analysts forecast that Great Plains Energy will post $1.74 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, May 30th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Thursday, May 25th. This represents a $1.10 dividend on an annualized basis and a yield of 3.82%. Great Plains Energy’s dividend payout ratio is presently 79.71%.
Institutional investors have recently added to or reduced their stakes in the company. Utah Retirement Systems boosted its position in Great Plains Energy by 0.3% in the first quarter. Utah Retirement Systems now owns 39,301 shares of the utilities provider’s stock worth $1,148,000 after buying an additional 100 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Great Plains Energy by 1.4% in the first quarter. Oppenheimer & Co. Inc. now owns 10,966 shares of the utilities provider’s stock worth $321,000 after buying an additional 147 shares in the last quarter. UMB Bank N A MO boosted its position in Great Plains Energy by 0.3% in the first quarter. UMB Bank N A MO now owns 52,607 shares of the utilities provider’s stock worth $1,537,000 after buying an additional 164 shares in the last quarter. Retirement Planning Group boosted its position in Great Plains Energy by 0.7% in the third quarter. Retirement Planning Group now owns 24,482 shares of the utilities provider’s stock worth $668,000 after buying an additional 169 shares in the last quarter. Finally, KCM Investment Advisors LLC boosted its position in Great Plains Energy by 0.6% in the third quarter. KCM Investment Advisors LLC now owns 28,980 shares of the utilities provider’s stock worth $791,000 after buying an additional 180 shares in the last quarter. 90.15% of the stock is 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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