Korea Electric Power (NYSE:KEP) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Korea Electric Power (NYSE:KEP) from a hold rating to a sell rating in a research note published on Tuesday, Zacks.com reports.

According to Zacks, “Korea Electric Power Corporation generates and supplies electric power to its customers, both industrial and residential. The Korean government owns the majority of the company. “

Several other analysts also recently commented on KEP. Nomura downgraded Korea Electric Power from a buy rating to a neutral rating in a research note on Thursday, June 6th. Morgan Stanley set a $61.00 price objective on Walgreens Boots Alliance and gave the company a hold rating in a research note on Tuesday, May 14th. Daiwa Capital Markets downgraded Cognizant Technology Solutions from a buy rating to a hold rating in a research note on Tuesday, May 7th. Finally, ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Korea Electric Power has a consensus rating of Hold and an average target price of $18.00.

KEP opened at $10.86 on Tuesday. The firm’s 50 day moving average is $10.96. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 0.78. The stock has a market cap of $13.94 billion, a P/E ratio of -11.68, a PEG ratio of 16.69 and a beta of 0.25. Korea Electric Power has a 52 week low of $10.36 and a 52 week high of $15.78.

Several hedge funds have recently modified their holdings of KEP. Comerica Bank raised its position in shares of Korea Electric Power by 1.2% in the 4th quarter. Comerica Bank now owns 74,959 shares of the utilities provider’s stock worth $1,104,000 after purchasing an additional 871 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Korea Electric Power by 16.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,089 shares of the utilities provider’s stock worth $150,000 after buying an additional 1,452 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Korea Electric Power in the 4th quarter worth about $1,278,000. Stamos Capital Partners L.P. purchased a new position in Korea Electric Power in the 4th quarter worth about $68,000. Finally, Baillie Gifford & Co. raised its position in Korea Electric Power by 14.9% in the 4th quarter. Baillie Gifford & Co. now owns 75,000 shares of the utilities provider’s stock worth $1,106,000 after buying an additional 9,700 shares during the last quarter. 3.95% of the stock is owned by institutional investors and hedge funds.

About Korea Electric Power

Korea Electric Power Corporation, an integrated electric utility company, generates, transmits, and distributes electricity in Korea and internationally. The company operates through Transmission and Distribution, Electric Power Generation (Nuclear), Electric Power Generation (Non-nuclear), Plant Maintenance & Engineering Service, and Others segments.

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