Dimensional Fund Advisors LP boosted its stake in shares of Great Plains Energy Inc (NYSE:GXP) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 664,720 shares of the utilities provider’s stock after buying an additional 11,249 shares during the period. Dimensional Fund Advisors LP owned about 0.31% of Great Plains Energy worth $19,422,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Liberty Mutual Group Asset Management Inc. raised its position in Great Plains Energy by 2.1% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 96,787 shares of the utilities provider’s stock valued at $2,828,000 after buying an additional 2,016 shares during the last quarter. Geode Capital Management LLC raised its position in Great Plains Energy by 10.9% in the first quarter. Geode Capital Management LLC now owns 1,678,922 shares of the utilities provider’s stock valued at $49,058,000 after buying an additional 164,388 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Great Plains Energy by 43.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,039 shares of the utilities provider’s stock valued at $323,000 after buying an additional 3,333 shares during the last quarter. Vanguard Group Inc. raised its position 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, Marshall Wace North America L.P. purchased a new position in Great Plains Energy during the first quarter valued at $31,166,000. Institutional investors own 87.70% of the company’s stock.
Great Plains Energy Inc (NYSE GXP) traded down 0.93% during midday trading on Friday, hitting $30.89. 2,974,988 shares of the stock were exchanged. The firm has a 50 day moving average of $30.21 and a 200-day moving average of $29.07. Great Plains Energy Inc has a 12-month low of $25.85 and a 12-month high of $31.69. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 36.64 and a beta of 0.44.
Great Plains Energy (NYSE:GXP) last released its earnings results on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.04. Great Plains Energy had a return on equity of 5.62% and a net margin of 8.00%. The company had revenue of $682.60 million during the quarter, compared to analyst estimates of $677 million. During the same period in the prior year, the business posted $0.55 earnings per share. On average, equities analysts expect that Great Plains Energy Inc will post $1.66 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Tuesday, August 29th will be given a $0.275 dividend. The ex-dividend date is Friday, August 25th. This represents a $1.10 annualized dividend and a dividend yield of 3.56%. Great Plains Energy’s dividend payout ratio is presently 105.77%.
Several research firms have weighed in on GXP. Zacks Investment Research lowered shares of Great Plains Energy from a “buy” rating to a “hold” rating in a report on Thursday. BidaskClub upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, J P Morgan Chase & Co upgraded shares of 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 report on Tuesday, July 11th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $31.56.
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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