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.
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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.
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