Zimmer Partners LP cut its position in shares of Great Plains Energy Incorporated (NYSE:GXP) by 56.4% during the 4th quarter, Holdings Channel reports. The firm owned 952,692 shares of the utilities provider’s stock after selling 1,232,382 shares during the quarter. Zimmer Partners LP’s holdings in Great Plains Energy were worth $30,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Great Plains Energy by 38.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,472 shares of the utilities provider’s stock worth $402,000 after purchasing an additional 3,457 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Great Plains Energy by 11.4% during the 3rd quarter. Pacer Advisors Inc. now owns 37,171 shares of the utilities provider’s stock worth $1,126,000 after purchasing an additional 3,812 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in Great Plains Energy in the 3rd quarter valued at about $611,000. Wells Fargo & Company MN grew its stake in Great Plains Energy by 1.9% in the 3rd quarter. Wells Fargo & Company MN now owns 538,973 shares of the utilities provider’s stock valued at $16,331,000 after buying an additional 10,109 shares during the last quarter. Finally, AMP Capital Investors Ltd grew its stake in Great Plains Energy by 1,464.8% in the 3rd quarter. AMP Capital Investors Ltd now owns 1,246,032 shares of the utilities provider’s stock valued at $37,756,000 after buying an additional 1,166,405 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.
Great Plains Energy Incorporated (NYSE:GXP) opened at $30.40 on Wednesday. Great Plains Energy Incorporated has a 52-week low of $27.60 and a 52-week high of $34.72. The stock has a market cap of $6,493.68, a P/E ratio of -46.37, a price-to-earnings-growth ratio of 3.32 and a beta of 0.43. The company has a current ratio of 1.29, a quick ratio of 1.10 and a debt-to-equity ratio of 0.67.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Tuesday, February 27th will be given a dividend of $0.275 per share. The ex-dividend date is Monday, February 26th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.62%. Great Plains Energy’s payout ratio is presently -169.23%.
GXP has been the topic of a number of research reports. TheStreet lowered shares of Great Plains Energy from a “b-” rating to a “c” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. decreased their price target on shares of Great Plains Energy from $37.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. Zacks Investment Research upgraded shares of Great Plains Energy from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. SunTrust Banks reiterated a “hold” rating and issued a $31.00 price target on shares of Great Plains Energy in a research note on Tuesday, December 26th. Finally, UBS Group initiated coverage on shares of Great Plains Energy in a research note on Friday, February 2nd. They issued a “neutral” rating and a $32.00 price target on the stock. Four 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. The stock has a consensus rating of “Buy” and an average target price of $31.86.
ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of US & international copyright & trademark legislation. The original version of this piece of content can be viewed at https://sportsperspectives.com/2018/03/14/great-plains-energy-incorporated-gxp-stake-decreased-by-zimmer-partners-lp.html.
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.
Want to see what other hedge funds are holding GXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Great Plains Energy Incorporated (NYSE:GXP).
Receive News & Ratings for Great Plains Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Great Plains Energy and related companies with MarketBeat.com's FREE daily email newsletter.