Teacher Retirement System of Texas lowered its position in Great Plains Energy Inc (NYSE:GXP) by 95.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,778 shares of the utilities provider’s stock after selling 405,264 shares during the period. Teacher Retirement System of Texas’ holdings in Great Plains Energy were worth $539,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Ffcm LLC boosted its holdings in 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 acquiring an additional 2,538 shares in the last quarter. Advisory Services Network LLC boosted its holdings in 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 acquiring an additional 45 shares in the last quarter. HL Financial Services LLC bought a new position in Great Plains Energy in the third quarter worth approximately $205,000. CIBC Asset Management Inc bought a new position in Great Plains Energy in the third quarter worth approximately $211,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in Great Plains Energy in the second quarter worth approximately $219,000. Institutional investors and hedge funds own 90.72% of the company’s stock.
GXP has been the topic of several recent research reports. Bank of America Corporation initiated coverage on Great Plains Energy in a report on Tuesday, October 24th. They issued a “buy” rating and a $35.00 price target on the stock. BidaskClub upgraded Great Plains Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. KeyCorp reiterated a “hold” rating on shares of Great Plains Energy in a report on Friday, September 1st. Zacks Investment Research lowered Great Plains Energy from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $30.00 price target on shares of Great Plains Energy in a report on Wednesday, October 4th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Great Plains Energy has a consensus rating of “Buy” and an average price target of $32.00.
Great Plains Energy Inc (NYSE:GXP) opened at $34.26 on Thursday. Great Plains Energy Inc has a fifty-two week low of $25.85 and a fifty-two week high of $34.32. The company has a quick ratio of 1.24, a current ratio of 1.44 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $7,362.69, a P/E ratio of 19.62, a PEG ratio of 3.51 and a beta of 0.47.
Great Plains Energy (NYSE:GXP) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.09. Great Plains Energy had a return on equity of 5.41% and a net margin of 3.42%. The company had revenue of $857.20 million for the quarter, compared to analyst estimates of $805.72 million. During the same quarter last year, the company earned $1.00 earnings per share. sell-side analysts forecast that Great Plains Energy Inc will post 1.77 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 29th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Monday, November 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.21%. Great Plains Energy’s dividend payout ratio is presently 550.03%.
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About Great Plains Energy
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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