First Command Bank raised its stake in shares of Great Plains Energy Inc (NYSE:GXP) by 100.0% during the second quarter, Holdings Channel reports. The firm owned 4,400 shares of the utilities provider’s stock after buying an additional 2,200 shares during the period. First Command Bank’s holdings in Great Plains Energy were worth $128,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Capstone Asset Management Co. raised its position in shares of Great Plains Energy by 1.8% in the first quarter. Capstone Asset Management Co. now owns 19,492 shares of the utilities provider’s stock valued at $570,000 after buying an additional 350 shares during the period. Shell Asset Management Co. acquired a new position in shares of Great Plains Energy during the first quarter valued at about $1,092,000. Macquarie Group Ltd. raised its position in shares of Great Plains Energy by 63.3% in the fourth quarter. Macquarie Group Ltd. now owns 73,500 shares of the utilities provider’s stock valued at $2,010,000 after buying an additional 28,500 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Great Plains Energy during the first quarter valued at about $2,251,000. Finally, Victory Capital Management Inc. raised its position in shares of Great Plains Energy by 93.4% in the first quarter. Victory Capital Management Inc. now owns 920,668 shares of the utilities provider’s stock valued at $26,901,000 after buying an additional 444,546 shares during the period. Institutional investors and hedge funds own 88.38% of the company’s stock.
Shares of Great Plains Energy Inc (GXP) traded up 3.15% during mid-day trading on Monday, hitting $30.17. The company had a trading volume of 7,199,195 shares. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 25.00 and a beta of 0.44. The firm has a 50-day moving average price of $29.02 and a 200 day moving average price of $28.47. Great Plains Energy Inc has a 52-week low of $25.85 and a 52-week high of $31.24.
Great Plains Energy (NYSE:GXP) last posted its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. The firm had revenue of $570.70 million during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.17 EPS. Analysts expect that Great Plains Energy Inc will post $1.74 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Tuesday, May 30th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, May 25th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.76%. Great Plains Energy’s payout ratio is currently 82.09%.
GXP has been the subject of several recent analyst reports. Zacks Investment Research lowered Great Plains Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, March 21st. Evercore ISI restated an “outperform” rating and set a $31.00 target price on shares of Great Plains Energy in a research report on Thursday, March 30th. Finally, BidaskClub upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $31.75.
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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