Texas Permanent School Fund raised its position in Great Plains Energy Inc (NYSE:GXP) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,414 shares of the utilities provider’s stock after buying an additional 1,474 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Great Plains Energy worth $4,609,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in GXP. Nomura Asset Management Co. Ltd. increased 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 buying an additional 520 shares in the last quarter. Proficio Capital Partners LLC boosted its stake 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 buying an additional 2,810 shares during the last quarter. First Command Bank boosted its stake 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 buying an additional 2,200 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Great Plains Energy during the first quarter valued at about $139,000. Finally, Mckinley Capital Management LLC Delaware purchased a new stake in Great Plains Energy during the first quarter valued at about $141,000. Institutional investors own 87.79% of the company’s stock.
Great Plains Energy Inc (NYSE:GXP) opened at 31.23 on Friday. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 37.05 and a beta of 0.44. Great Plains Energy Inc has a 12-month low of $25.85 and a 12-month high of $31.69. The firm has a 50-day moving average of $30.48 and a 200-day moving average of $29.23.
Great Plains Energy (NYSE:GXP) last announced its quarterly earnings data on Wednesday, August 9th. The utilities provider reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.04. Great Plains Energy had a return on equity of 5.62% and a net margin of 8.00%. The business had revenue of $682.60 million for the quarter, compared to analyst estimates of $677 million. During the same quarter in the previous year, the business posted $0.55 earnings per share. Equities research analysts forecast that Great Plains Energy Inc will post $1.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Tuesday, August 29th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $1.10 annualized dividend and a dividend yield of 3.52%. Great Plains Energy’s dividend payout ratio is 105.77%.
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Several research firms recently issued reports on GXP. J P Morgan Chase & Co upgraded shares of Great Plains Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $31.00 to $32.00 in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, Zacks Investment Research upgraded shares of Great Plains Energy from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Great Plains Energy presently has a consensus rating of “Buy” and a consensus price target of $31.56.
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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