ValuEngine Upgrades Great Plains Energy Inc (GXP) to “Buy”

Great Plains Energy Inc (NYSE:GXP) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Several other brokerages have also issued reports on GXP. Bank of America Corporation assumed coverage on shares of Great Plains Energy in a research report on Tuesday, October 24th. They issued a “buy” rating and a $35.00 target price on the stock. J P Morgan Chase & Co set a $35.00 target price on shares of Great Plains Energy and gave the company a “buy” rating in a research report on Thursday, October 12th. Zacks Investment Research upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Wednesday, October 11th. BidaskClub upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, KeyCorp reiterated a “hold” rating on shares of Great Plains Energy in a research report on Friday, September 1st. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $32.00.

Shares of Great Plains Energy (GXP) opened at $33.16 on Thursday. The company has a market cap of $7,140.00, a price-to-earnings ratio of 19.34, a P/E/G ratio of 3.46 and a beta of 0.46. The company has a current ratio of 1.44, a quick ratio of 1.24 and a debt-to-equity ratio of 0.65. Great Plains Energy has a 52-week low of $25.85 and a 52-week high of $33.94.

Great Plains Energy (NYSE:GXP) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.09. The company had revenue of $857.20 million for the quarter, compared to analyst estimates of $805.72 million. Great Plains Energy had a net margin of 3.42% and a return on equity of 5.41%. During the same quarter last year, the business earned $1.00 earnings per share. equities analysts expect that Great Plains Energy will post 1.77 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this report on another publication, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this report can be viewed at https://sportsperspectives.com/2017/11/11/valuengine-upgrades-great-plains-energy-inc-gxp-to-buy.html.

In other news, insider Terry D. Bassham sold 6,370 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $30.54, for a total value of $194,539.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Heather A. Humphrey sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $30.86, for a total transaction of $108,010.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,391 shares of company stock worth $838,626. Insiders own 0.41% of the company’s stock.

Large investors have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its stake in shares of Great Plains Energy by 17.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 3,420 shares of the utilities provider’s stock worth $100,000 after buying an additional 520 shares in the last quarter. Ffcm LLC lifted its stake in shares of Great Plains Energy by 171.5% in the second quarter. Ffcm LLC now owns 4,018 shares of the utilities provider’s stock worth $118,000 after buying an additional 2,538 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of Great Plains Energy by 0.9% in the second quarter. Advisory Services Network LLC now owns 4,793 shares of the utilities provider’s stock worth $140,000 after buying an additional 45 shares in the last quarter. V Wealth Management LLC purchased a new position in shares of Great Plains Energy in the second quarter worth about $191,000. Finally, HL Financial Services LLC purchased a new position in shares of Great Plains Energy in the third quarter worth about $205,000. 87.83% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Great Plains Energy (NYSE:GXP)

Receive News & Ratings for Great Plains Energy Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Great Plains Energy Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply