Engineers Gate Manager LP acquired a new stake in Great Plains Energy Incorporated (NYSE:GXP) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 90,027 shares of the utilities provider’s stock, valued at approximately $2,728,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Ffcm LLC grew its holdings in shares of Great Plains Energy by 171.5% during the 2nd quarter. Ffcm LLC now owns 4,018 shares of the utilities provider’s stock worth $118,000 after purchasing an additional 2,538 shares during the period. Advisory Services Network LLC boosted its holdings in Great Plains Energy by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 4,793 shares of the utilities provider’s stock valued at $140,000 after acquiring an additional 45 shares during the period. HL Financial Services LLC purchased a new position in Great Plains Energy during the 3rd quarter valued at about $205,000. CIBC Asset Management Inc purchased a new position in shares of Great Plains Energy in the 3rd quarter valued at about $211,000. Finally, Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Great Plains Energy in the 2nd quarter valued at about $219,000. 87.09% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Great Plains Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. ValuEngine upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Bank of America assumed coverage on Great Plains Energy in a research note on Tuesday, October 24th. They issued a “buy” rating and a $35.00 price objective for the company. J P Morgan Chase & Co set a $35.00 price objective on Great Plains Energy and gave the company a “buy” rating in a research note on Thursday, October 12th. Finally, BidaskClub upgraded Great Plains Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.00.
In other Great Plains Energy news, SVP Heather A. Humphrey sold 3,500 shares of Great Plains Energy stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $30.86, for a total transaction of $108,010.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Terry D. Bassham sold 6,370 shares of Great Plains Energy stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $30.54, for a total value of $194,539.80. The disclosure for this sale can be found here. Insiders have sold a total of 27,391 shares of company stock worth $838,626 in the last three months. Corporate insiders own 0.41% of the company’s stock.
Shares of Great Plains Energy Incorporated (GXP) traded up $0.11 during midday trading on Thursday, hitting $34.00. The stock had a trading volume of 904,900 shares, compared to its average volume of 2,164,830. The company has a quick ratio of 1.24, a current ratio of 1.44 and a debt-to-equity ratio of 0.65. Great Plains Energy Incorporated has a 1-year low of $26.61 and a 1-year high of $34.56. The firm has a market cap of $7,308.77, a price-to-earnings ratio of 19.48, a PEG ratio of 3.48 and a beta of 0.46.
Great Plains Energy (NYSE:GXP) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $1.05 earnings per share for the quarter, topping the 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 business 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 EPS. sell-side analysts forecast that Great Plains Energy Incorporated will post 1.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 29th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Monday, November 27th. Great Plains Energy’s dividend payout ratio (DPR) is presently 550.03%.
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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