Kornitzer Capital Management Inc. KS Has $395,000 Stake in Great Plains Energy Inc (NYSE:GXP)

Kornitzer Capital Management Inc. KS held its position in Great Plains Energy Inc (NYSE:GXP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,500 shares of the utilities provider’s stock at the end of the second quarter. Kornitzer Capital Management Inc. KS’s holdings in Great Plains Energy were worth $395,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Great West Life Assurance Co. Can raised its stake in shares of Great Plains Energy by 8.2% in the second quarter. Great West Life Assurance Co. Can now owns 329,926 shares of the utilities provider’s stock worth $9,646,000 after buying an additional 25,036 shares in the last quarter. NGAM Advisors L.P. raised its stake in shares of Great Plains Energy by 5.2% in the second quarter. NGAM Advisors L.P. now owns 14,780 shares of the utilities provider’s stock worth $433,000 after buying an additional 736 shares in the last quarter. Eastern Bank raised its stake in shares of Great Plains Energy by 3.3% in the second quarter. Eastern Bank now owns 65,457 shares of the utilities provider’s stock worth $1,917,000 after buying an additional 2,112 shares in the last quarter. Personal Capital Advisors Corp raised its stake in shares of Great Plains Energy by 3,695.3% in the second quarter. Personal Capital Advisors Corp now owns 312,050 shares of the utilities provider’s stock worth $9,137,000 after buying an additional 303,828 shares in the last quarter. Finally, Paragon Capital Management Ltd raised its stake in shares of Great Plains Energy by 10.4% in the second quarter. Paragon Capital Management Ltd now owns 9,599 shares of the utilities provider’s stock worth $281,000 after buying an additional 902 shares in the last quarter. Hedge funds and other institutional investors own 87.79% of the company’s stock.

Shares of Great Plains Energy Inc (NYSE:GXP) traded up 0.16% during trading on Friday, hitting $31.23. The stock had a trading volume of 1,807,508 shares. Great Plains Energy Inc has a 12-month low of $25.85 and a 12-month high of $31.69. The stock’s 50-day moving average is $30.48 and its 200-day moving average is $29.23. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 37.05 and a beta of 0.44.

Great Plains Energy (NYSE:GXP) last released its earnings results on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $682.60 million during the quarter, compared to analysts’ expectations of $677 million. During the same quarter in the previous year, the company earned $0.55 EPS. On average, equities research analysts expect that Great Plains Energy Inc will post $1.63 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Tuesday, August 29th will be given a $0.275 dividend. The ex-dividend date is Friday, August 25th. This represents a $1.10 dividend on an annualized basis and a yield of 3.52%. Great Plains Energy’s payout ratio is 105.77%.

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A number of equities research analysts have weighed in on GXP shares. Zacks Investment Research lowered Great Plains Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub raised Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, J P Morgan Chase & Co upgraded Great Plains Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $31.00 to $32.00 in a report on Tuesday, July 11th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Great Plains Energy presently has a consensus rating of “Buy” and a consensus target price of $31.56.

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.

Institutional Ownership by Quarter for Great Plains Energy (NYSE:GXP)

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