Laurion Capital Management LP bought a new position in Great Plains Energy Inc (NYSE:GXP) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 64,400 shares of the utilities provider’s stock, valued at approximately $1,886,000.
A number of other large investors have also modified their holdings of GXP. US Bancorp DE raised its position in Great Plains Energy by 1.7% in the 1st quarter. US Bancorp DE now owns 28,555 shares of the utilities provider’s stock worth $834,000 after purchasing an additional 482 shares during the period. Suntrust Banks Inc. purchased a new position in Great Plains Energy in the 1st quarter worth $229,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Great Plains Energy by 22.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,756 shares of the utilities provider’s stock worth $227,000 after purchasing an additional 1,446 shares during the period. Swiss National Bank raised its position in Great Plains Energy by 4.5% in the 1st quarter. Swiss National Bank now owns 356,100 shares of the utilities provider’s stock worth $10,405,000 after purchasing an additional 15,200 shares during the period. Finally, World Asset Management Inc raised its position in Great Plains Energy by 2.6% in the 1st quarter. World Asset Management Inc now owns 14,537 shares of the utilities provider’s stock worth $425,000 after purchasing an additional 366 shares during the period. Institutional investors own 87.90% of the company’s stock.
A number of brokerages recently commented on GXP. Zacks Investment Research cut shares of Great Plains Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. KeyCorp reiterated a “hold” rating on shares of Great Plains Energy in a research report on Friday, September 1st. BidaskClub upgraded shares of Great Plains Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Finally, J P Morgan Chase & Co upgraded shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $31.00 to $32.00 in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $31.56.
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In other news, SVP Heather A. Humphrey sold 3,500 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $30.86, for a total value of $108,010.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Terry D. Bassham sold 6,370 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $30.54, for a total transaction of $194,539.80. The disclosure for this sale can be found here. In the last three months, insiders sold 27,391 shares of company stock worth $838,626. Insiders own 0.41% of the company’s stock.
Great Plains Energy (NYSE:GXP) last announced its earnings results on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.04). Great Plains Energy had a net margin of 8.00% and a return on equity of 5.62%. The firm had revenue of $682.60 million during the quarter, compared to analysts’ expectations of $677.00 million. During the same period in the prior year, the company posted $0.55 EPS.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Tuesday, August 29th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Friday, August 25th. Great Plains Energy’s dividend payout ratio is currently 105.77%.
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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