Candriam Luxembourg S.C.A. purchased a new position in shares of Great Plains Energy Incorporated (NYSE:GXP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,054 shares of the utilities provider’s stock, valued at approximately $456,000.
Several other institutional investors also recently modified their holdings of the company. Advantus Capital Management Inc increased its holdings in shares of Great Plains Energy by 44.0% in the 3rd quarter. Advantus Capital Management Inc now owns 123,619 shares of the utilities provider’s stock valued at $3,746,000 after purchasing an additional 37,800 shares in the last quarter. Principal Financial Group Inc. grew its stake in Great Plains Energy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 3,596,059 shares of the utilities provider’s stock valued at $108,959,000 after acquiring an additional 119,519 shares during the last quarter. Boston Partners boosted its stake in shares of Great Plains Energy by 24.6% during the 3rd quarter. Boston Partners now owns 2,350,394 shares of the utilities provider’s stock worth $71,217,000 after purchasing an additional 463,582 shares during the last quarter. IndexIQ Advisors LLC acquired a new stake in shares of Great Plains Energy during the 3rd quarter worth about $2,398,000. Finally, State of Wisconsin Investment Board boosted its stake in shares of Great Plains Energy by 12.0% during the 3rd quarter. State of Wisconsin Investment Board now owns 236,699 shares of the utilities provider’s stock worth $7,172,000 after purchasing an additional 25,311 shares during the last quarter. Institutional investors and hedge funds own 87.09% of the company’s stock.
In other news, SVP Heather A. Humphrey sold 3,500 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $30.86, for a total transaction of $108,010.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kevin E. Bryant sold 9,853 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $30.64, for a total value of $301,895.92. Following the completion of the transaction, the chief financial officer now owns 38,003 shares in the company, valued at approximately $1,164,411.92. The disclosure for this sale can be found here. Insiders have sold 27,391 shares of company stock worth $838,626 in the last 90 days. Company insiders own 0.41% of the company’s stock.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $857.20 million during the quarter, compared to analyst estimates of $805.72 million. During the same period in the previous year, the company earned $1.00 earnings per share. research analysts expect that Great Plains Energy Incorporated will post 1.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 29th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Monday, November 27th. Great Plains Energy’s dividend payout ratio (DPR) is 578.95%.
Several research firms recently issued reports on GXP. Zacks Investment Research cut shares of Great Plains Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. ValuEngine upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Bank of America started coverage on shares of Great Plains Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $35.00 price target for the company. J P Morgan Chase & Co set a $35.00 price objective on shares of Great Plains Energy and gave the stock a “buy” rating in a report on Thursday, October 12th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Great Plains Energy in a report on Wednesday, October 4th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $32.00.
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Great Plains Energy 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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