Personal Capital Advisors Corp boosted its position in Great Plains Energy Incorporated (NYSE:GXP) by 6.5% during the 4th quarter, HoldingsChannel reports. The fund owned 355,976 shares of the utilities provider’s stock after acquiring an additional 21,789 shares during the quarter. Personal Capital Advisors Corp’s holdings in Great Plains Energy were worth $11,477,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Bank of Nova Scotia Trust Co. acquired a new stake in Great Plains Energy in the third quarter valued at approximately $109,000. Advisory Services Network LLC raised its holdings in Great Plains Energy by 0.9% during the second quarter. Advisory Services Network LLC now owns 4,793 shares of the utilities provider’s stock worth $140,000 after purchasing an additional 45 shares in the last quarter. HL Financial Services LLC acquired a new stake in Great Plains Energy during the third quarter worth approximately $205,000. CIBC Asset Management Inc acquired a new stake in Great Plains Energy during the third quarter worth approximately $211,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new stake in Great Plains Energy during the second quarter worth approximately $219,000. 87.07% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on GXP shares. Wells Fargo & Co raised shares of Great Plains Energy from a “market perform” rating to an “outperform” rating in a report on Monday, October 2nd. SunTrust Banks reissued a “hold” rating and set a $30.00 price objective on shares of Great Plains Energy in a report on Wednesday, October 4th. Zacks Investment Research raised shares of Great Plains Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. JPMorgan 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, Bank of America started coverage on shares of Great Plains Energy in a report on Tuesday, October 24th. They set a “buy” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Great Plains Energy has a consensus rating of “Buy” and an average target price of $32.50.
Great Plains Energy (NYSE:GXP) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. The business had revenue of $857.20 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted $1.00 EPS. sell-side analysts expect that Great Plains Energy Incorporated will post 1.77 EPS for the current year.
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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.
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