State of Wisconsin Investment Board lowered its holdings in shares of Great Plains Energy (NYSE:GXP) by 10.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 213,057 shares of the utilities provider’s stock after selling 23,977 shares during the period. State of Wisconsin Investment Board owned approximately 0.10% of Great Plains Energy worth $6,773,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new stake in Great Plains Energy during the fourth quarter worth approximately $123,000. Meeder Asset Management Inc. acquired a new stake in Great Plains Energy during the first quarter worth approximately $140,000. Advisory Services Network LLC grew its stake in Great Plains Energy by 62.7% during the fourth quarter. Advisory Services Network LLC now owns 5,950 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 2,294 shares during the period. ING Groep NV acquired a new stake in Great Plains Energy during the fourth quarter worth approximately $204,000. Finally, MAI Capital Management acquired a new stake in Great Plains Energy during the fourth quarter worth approximately $210,000. 88.74% of the stock is owned by institutional investors and hedge funds.
Shares of Great Plains Energy opened at $33.64 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 1.37, a current ratio of 1.61 and a debt-to-equity ratio of 0.73. Great Plains Energy has a 52 week low of $28.46 and a 52 week high of $34.72. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 5.68 and a beta of 0.32.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Wednesday, May 30th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Tuesday, May 29th. This represents a $1.10 dividend on an annualized basis and a yield of 3.27%. Great Plains Energy’s dividend payout ratio (DPR) is presently 63.22%.
Several equities research analysts recently commented on GXP shares. UBS started coverage on Great Plains Energy in a research note on Friday, February 2nd. They set a “neutral” rating and a $32.00 target price for the company. Morgan Stanley raised Great Plains Energy to a “buy” rating and set a $26.00 target price for the company in a research note on Tuesday, February 13th. TheStreet cut Great Plains Energy from a “b-” rating to a “c” rating in a research note on Thursday, February 22nd. Zacks Investment Research raised Great Plains Energy from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Finally, SunTrust Banks reissued a “hold” rating and issued a $30.00 price objective on shares of Great Plains Energy in a research note on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $32.00.
Great Plains Energy 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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