Visionary Asset Management Inc. purchased a new stake in shares of Great Plains Energy Inc (NYSE:GXP) during the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 11,044 shares of the utilities provider’s stock, valued at approximately $323,000.
Several other hedge funds have also recently added to or reduced their stakes in GXP. Boston Partners raised its stake in Great Plains Energy by 33.5% in the first quarter. Boston Partners now owns 6,790,947 shares of the utilities provider’s stock valued at $198,431,000 after buying an additional 1,705,973 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in Great Plains Energy during the first quarter valued at approximately $31,166,000. Marshall Wace North America L.P. purchased a new stake in Great Plains Energy during the first quarter valued at approximately $31,166,000. Vanguard Group Inc. raised its stake in Great Plains Energy by 5.5% in the first quarter. Vanguard Group Inc. now owns 19,489,178 shares of the utilities provider’s stock valued at $569,474,000 after buying an additional 1,007,461 shares during the last quarter. Finally, Morgan Stanley raised its stake in Great Plains Energy by 45.7% in the first quarter. Morgan Stanley now owns 1,661,567 shares of the utilities provider’s stock valued at $48,553,000 after buying an additional 521,501 shares during the last quarter. 88.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Great Plains Energy Inc (NYSE GXP) traded up 0.518% during mid-day trading on Thursday, reaching $30.075. The company’s stock had a trading volume of 457,516 shares. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 24.917 and a beta of 0.44. The firm’s 50 day moving average price is $29.48 and its 200-day moving average price is $28.68. Great Plains Energy Inc has a 1-year low of $25.85 and a 1-year high of $30.64.
Great Plains Energy (NYSE:GXP) last issued its earnings results on Thursday, May 4th. The utilities provider reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. Great Plains Energy had a net margin of 9.50% and a return on equity of 6.52%. The business had revenue of $570.70 million for the quarter, compared to the consensus estimate of $584.92 million. During the same quarter last year, the firm posted $0.17 EPS. On average, analysts predict that Great Plains Energy Inc will post $1.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Tuesday, May 30th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Thursday, May 25th. Great Plains Energy’s dividend payout ratio is presently 82.09%.
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GXP has been the topic of several analyst reports. Zacks Investment Research lowered shares of Great Plains Energy from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. Evercore ISI reissued an “outperform” rating and issued a $31.00 target price on shares of Great Plains Energy in a research report on Thursday, March 30th. BidaskClub raised Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, J P Morgan Chase & Co raised Great Plains Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $31.00 to $32.00 in a research report on Tuesday, July 11th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $31.33.
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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