State of Wisconsin Investment Board cut its stake in shares of Great Plains Energy Inc (NYSE:GXP) by 81.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,758 shares of the utilities provider’s stock after selling 81,320 shares during the period. State of Wisconsin Investment Board’s holdings in Great Plains Energy were worth $548,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Zimmer Partners LP raised its position in shares of Great Plains Energy by 40.6% in the fourth quarter. Zimmer Partners LP now owns 7,065,211 shares of the utilities provider’s stock valued at $193,234,000 after buying an additional 2,038,612 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Great Plains Energy during the fourth quarter valued at $1,037,000. Envestnet Asset Management Inc. raised its position in shares of Great Plains Energy by 22.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,476 shares of the utilities provider’s stock valued at $148,000 after buying an additional 1,008 shares in the last quarter. Flinton Capital Management LLC acquired a new position in shares of Great Plains Energy during the fourth quarter valued at $568,000. Finally, New York State Teachers Retirement System raised its position in shares of Great Plains Energy by 6.1% in the fourth quarter. New York State Teachers Retirement System now owns 271,533 shares of the utilities provider’s stock valued at $7,426,000 after buying an additional 15,700 shares in the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.
Shares of Great Plains Energy Inc (NYSE GXP) opened at 29.92 on Friday. Great Plains Energy Inc has a 12-month low of $25.85 and a 12-month high of $31.24. The firm has a 50-day moving average of $28.80 and a 200 day moving average of $28.29. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 24.79 and a beta of 0.47.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings results on Thursday, May 4th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. The firm had revenue of $570.70 million for the quarter, compared to the consensus estimate of $584.92 million. Great Plains Energy had a net margin of 9.50% and a return on equity of 6.52%. During the same quarter in the previous year, the company earned $0.17 EPS. On average, equities research analysts expect that Great Plains Energy Inc will post $1.74 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Tuesday, May 30th will be given a $0.275 dividend. The ex-dividend date is Thursday, May 25th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.68%. Great Plains Energy’s dividend payout ratio (DPR) is currently 82.09%.
Several brokerages recently weighed in on GXP. Zacks Investment Research upgraded shares of Great Plains Energy from a “sell” rating to a “hold” rating in a report on Friday. BidaskClub upgraded shares of Great Plains Energy from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Evercore ISI restated an “outperform” rating and issued a $31.00 price objective on shares of Great Plains Energy in a report on Thursday, March 30th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $31.75.
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.
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