Neuberger Berman Group LLC lessened its position in shares of Great Plains Energy Inc (NYSE:GXP) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 330,247 shares of the utilities provider’s stock after selling 12,035 shares during the quarter. Neuberger Berman Group LLC owned 0.15% of Great Plains Energy worth $9,670,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of GXP. Jennison Associates LLC purchased a new stake in Great Plains Energy during the second quarter valued at $104,441,000. MARSHALL WACE ASIA Ltd purchased a new stake in Great Plains Energy during the first quarter valued at $31,166,000. Marshall Wace North America L.P. purchased a new stake in Great Plains Energy during the first quarter valued at $31,166,000. Vanguard Group Inc. increased its position in Great Plains Energy by 5.5% during the first quarter. Vanguard Group Inc. now owns 19,489,178 shares of the utilities provider’s stock valued at $569,474,000 after acquiring an additional 1,007,461 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Great Plains Energy by 72.5% during the second quarter. BNP Paribas Arbitrage SA now owns 1,304,950 shares of the utilities provider’s stock valued at $38,209,000 after acquiring an additional 548,281 shares during the last quarter. Institutional investors own 88.63% of the company’s stock.
A number of analysts recently commented on the company. J P Morgan Chase & Co upgraded Great Plains Energy from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $31.00 to $32.00 in a research report on Tuesday, July 11th. BidaskClub upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research upgraded Great Plains Energy from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Tuesday, July 25th. Finally, KeyCorp restated a “hold” rating on shares of Great Plains Energy in a research report on Friday, September 1st. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Great Plains Energy has an average rating of “Buy” and an average price target of $31.56.
Shares of Great Plains Energy Inc (GXP) opened at 30.74 on Monday. The stock has a market cap of $6.62 billion, a PE ratio of 36.47 and a beta of 0.45. Great Plains Energy Inc has a 52-week low of $25.85 and a 52-week high of $31.69. The company’s 50 day moving average price is $30.98 and its 200 day moving average price is $29.56.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The company had revenue of $682.60 million during the quarter, compared to analyst estimates of $677 million. Great Plains Energy had a net margin of 8.00% and a return on equity of 5.62%. During the same period last year, the firm earned $0.55 EPS. On average, analysts anticipate that Great Plains Energy Inc will post $1.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Tuesday, August 29th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, August 25th. This represents a $1.10 annualized dividend and a dividend yield of 3.58%. Great Plains Energy’s dividend payout ratio is presently 105.77%.
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Great Plains Energy 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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