Great Plains Energy Inc (GXP) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Great Plains Energy Inc (NYSE:GXP) from a hold rating to a buy rating in a report published on Thursday.

GXP has been the subject of a number of other reports. Zacks Investment Research raised shares of Great Plains Energy from a sell rating to a hold rating in a research note on Friday, July 14th. BidaskClub raised shares of Great Plains Energy from a buy rating to a strong-buy rating in a research report on Saturday, August 26th. Bank of America Corporation began coverage on Great Plains Energy in a report on Tuesday, October 24th. They issued a buy rating and a $35.00 price objective on the stock. KeyCorp restated a hold rating on shares of Great Plains Energy in a report on Friday, September 1st. Finally, SunTrust Banks, Inc. reiterated a hold rating and set a $30.00 price target on shares of Great Plains Energy in a report on Wednesday, October 4th. Four equities research analysts have rated the stock with a hold rating, six have given 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 a consensus target price of $32.00.

Shares of Great Plains Energy (GXP) traded down $0.31 during trading hours on Thursday, hitting $33.16. 2,211,200 shares of the company’s stock were exchanged, compared to its average volume of 2,258,789. The firm has a market capitalization of $7,151.34, a PE ratio of 19.06, a price-to-earnings-growth ratio of 3.41 and a beta of 0.47. Great Plains Energy has a 52 week low of $25.85 and a 52 week high of $33.94. The company has a quick ratio of 1.24, a current ratio of 1.44 and a debt-to-equity ratio of 0.65.

Great Plains Energy (NYSE:GXP) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.96 by $0.09. The business had revenue of $857.20 million during the quarter, compared to analyst estimates of $805.72 million. Great Plains Energy had a net margin of 3.42% and a return on equity of 5.41%. During the same quarter in the prior year, the firm earned $1.00 earnings per share. sell-side analysts predict that Great Plains Energy will post 1.77 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, November 29th will be given a $0.275 dividend. The ex-dividend date of this dividend is Monday, November 27th. This represents a $1.10 dividend on an annualized basis and a yield of 3.32%. Great Plains Energy’s payout ratio is 550.03%.

In other news, SVP Heather A. Humphrey sold 3,500 shares of Great Plains Energy stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $30.86, for a total transaction of $108,010.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin E. Bryant sold 9,853 shares of Great Plains Energy 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 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 a total of 27,391 shares of company stock valued at $838,626 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Several institutional investors have recently made changes to their positions in GXP. Nomura Asset Management Co. Ltd. raised its stake in shares of Great Plains Energy by 17.9% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 3,420 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 520 shares in the last quarter. Ffcm LLC grew its holdings in Great Plains Energy by 171.5% in the 2nd quarter. Ffcm LLC now owns 4,018 shares of the utilities provider’s stock valued at $118,000 after buying an additional 2,538 shares in the last quarter. Advisory Services Network LLC grew its holdings in Great Plains Energy by 0.9% in the 2nd quarter. Advisory Services Network LLC now owns 4,793 shares of the utilities provider’s stock valued at $140,000 after buying an additional 45 shares in the last quarter. V Wealth Management LLC acquired a new position in Great Plains Energy in the 2nd quarter valued at $191,000. Finally, HL Financial Services LLC acquired a new position in Great Plains Energy in the 3rd quarter valued at $205,000. Institutional investors own 87.80% of the company’s stock.

Great Plains Energy Company 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Great Plains Energy (NYSE:GXP)

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