Ffcm LLC boosted its stake in shares of Great Plains Energy Inc (NYSE:GXP) by 171.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,018 shares of the utilities provider’s stock after buying an additional 2,538 shares during the period. Ffcm LLC’s holdings in Great Plains Energy were worth $118,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. raised its position in Great Plains Energy by 17.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 3,420 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 520 shares during the period. Proficio Capital Partners LLC raised its position in Great Plains Energy by 312.2% in the first quarter. Proficio Capital Partners LLC now owns 3,710 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 2,810 shares during the period. First Command Bank raised its position in Great Plains Energy by 100.0% in the second quarter. First Command Bank now owns 4,400 shares of the utilities provider’s stock valued at $128,000 after purchasing an additional 2,200 shares during the period. Advisory Services Network LLC purchased a new stake in Great Plains Energy in the first quarter valued at $139,000. Finally, Mckinley Capital Management LLC Delaware purchased a new stake in Great Plains Energy in the first quarter valued at $141,000. 87.90% of the stock is currently owned by institutional investors.
A number of research firms have commented on GXP. Zacks Investment Research downgraded Great Plains Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. KeyCorp restated a “hold” rating on shares of Great Plains Energy in a research report on Friday, September 1st. BidaskClub upgraded Great Plains Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Finally, J P Morgan Chase & Co upgraded Great Plains Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $31.00 to $32.00 in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $31.56.
In other Great Plains Energy news, insider Terry D. Bassham sold 6,370 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $30.54, for a total value of $194,539.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Lori A. Wright sold 7,668 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $30.54, for a total value of $234,180.72. The disclosure for this sale can be found here. Insiders sold 27,391 shares of company stock worth $838,626 over the last three months. 0.41% of the stock is currently owned by corporate insiders.
Shares of Great Plains Energy Inc (GXP) opened at 30.24 on Friday. Great Plains Energy Inc has a 12-month low of $25.85 and a 12-month high of $31.69. The company has a 50 day moving average price of $31.02 and a 200 day moving average price of $29.67. The stock has a market cap of $6.52 billion, a P/E ratio of 35.87 and a beta of 0.45.
Great Plains Energy (NYSE:GXP) last released its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.04). Great Plains Energy had a net margin of 8.00% and a return on equity of 5.62%. The company had revenue of $682.60 million during the quarter, compared to analysts’ expectations of $677.00 million. During the same period last year, the business earned $0.55 earnings per share. Analysts anticipate that Great Plains Energy Inc will post $1.60 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Tuesday, August 29th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.64%. The ex-dividend date was Friday, August 25th. Great Plains Energy’s dividend payout ratio (DPR) is presently 105.77%.
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.
Receive News & Ratings for Great Plains Energy Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Great Plains Energy Inc and related companies with our FREE daily email newsletter.