Great Plains Energy (NYSE:GXP) had its target price increased by JPMorgan Chase from $32.00 to $33.00 in a research report report published on Tuesday morning. The firm currently has an overweight rating on the utilities provider’s stock.
GXP has been the subject of a number of other research reports. ValuEngine raised Great Plains Energy from a hold rating to a buy rating in a report on Sunday, December 31st. SunTrust Banks reaffirmed a hold rating and issued a $31.00 price target on shares of Great Plains Energy in a report on Tuesday, December 26th. Zacks Investment Research cut Great Plains Energy from a hold rating to a sell rating in a report on Wednesday, January 3rd. TheStreet cut Great Plains Energy from a b- rating to a c rating in a report on Thursday, February 22nd. Finally, UBS began coverage on Great Plains Energy in a report on Friday, February 2nd. They issued a neutral rating and a $32.00 price target for the company. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Great Plains Energy currently has a consensus rating of Buy and an average price target of $31.83.
Shares of GXP opened at $30.61 on Tuesday. Great Plains Energy has a 52 week low of $27.60 and a 52 week high of $34.72. The company has a current ratio of 1.29, a quick ratio of 1.10 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $6,577.79, a PE ratio of 17.53, a P/E/G ratio of 3.38 and a beta of 0.33.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 20th. Investors of record on Tuesday, February 27th were issued a $0.275 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $1.10 dividend on an annualized basis and a yield of 3.59%. Great Plains Energy’s payout ratio is 63.22%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GXP. New York State Common Retirement Fund raised its holdings in Great Plains Energy by 2.0% in the 3rd quarter. New York State Common Retirement Fund now owns 456,500 shares of the utilities provider’s stock worth $13,832,000 after purchasing an additional 9,000 shares during the period. TD Asset Management Inc. raised its holdings in shares of Great Plains Energy by 10.1% during the third quarter. TD Asset Management Inc. now owns 55,416 shares of the utilities provider’s stock valued at $1,679,000 after acquiring an additional 5,067 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Great Plains Energy by 17.7% during the third quarter. JPMorgan Chase & Co. now owns 1,041,330 shares of the utilities provider’s stock valued at $31,636,000 after acquiring an additional 156,327 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Great Plains Energy by 1.9% during the third quarter. Wells Fargo & Company MN now owns 538,973 shares of the utilities provider’s stock valued at $16,331,000 after acquiring an additional 10,109 shares during the last quarter. Finally, Vident Investment Advisory LLC acquired a new position in shares of Great Plains Energy during the third quarter valued at approximately $331,000. 86.00% of the stock is owned by institutional investors.
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Great Plains Energy Company Profile
Great Plains Energy Incorporated, through its subsidiaries, generates, transmits, distributes, and sells electricity. It also provides regulated steam services in St. Joseph, Missouri. The company generates electricity using coal, nuclear, natural gas, oil, wind, solar, landfill gas, and hydroelectric resources.
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