OLD Republic International Corp maintained its position in Great Plains Energy Inc (NYSE:GXP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 432,000 shares of the utilities provider’s stock at the end of the first quarter. OLD Republic International Corp’s holdings in Great Plains Energy were worth $12,623,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Boston Partners raised its position in Great Plains Energy by 33.5% in the first quarter. Boston Partners now owns 6,790,947 shares of the utilities provider’s stock worth $198,431,000 after buying an additional 1,705,973 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Great Plains Energy during the first quarter valued at about $31,166,000. Marshall Wace North America L.P. purchased a new position in shares of Great Plains Energy during the first quarter valued at about $31,166,000. Vanguard Group Inc. raised its position in shares of Great Plains Energy by 5.5% in the first quarter. Vanguard Group Inc. now owns 19,489,178 shares of the utilities provider’s stock valued at $569,474,000 after buying an additional 1,007,461 shares in the last quarter. Finally, FMR LLC raised its position in shares of Great Plains Energy by 19.3% in the fourth quarter. FMR LLC now owns 4,320,307 shares of the utilities provider’s stock valued at $118,161,000 after buying an additional 700,407 shares in the last quarter. 88.38% of the stock is owned by institutional investors and hedge funds.
Great Plains Energy Inc (NYSE:GXP) remained flat at $29.50 during midday trading on Friday. 1,788,386 shares of the stock were exchanged. Great Plains Energy Inc has a 12-month low of $25.85 and a 12-month high of $31.24. The firm has a market capitalization of $6.35 billion, a PE ratio of 24.44 and a beta of 0.47. The stock has a 50 day moving average price of $28.82 and a 200 day moving average price of $28.36.
Great Plains Energy (NYSE:GXP) last posted its earnings results on Thursday, May 4th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Great Plains Energy had a net margin of 9.50% and a return on equity of 6.52%. The business had revenue of $570.70 million for the quarter, compared to analyst estimates of $584.92 million. During the same period in the prior year, the company posted $0.17 EPS. On average, equities analysts anticipate that Great Plains Energy Inc will post $1.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Tuesday, May 30th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend was Thursday, May 25th. Great Plains Energy’s payout ratio is currently 82.09%.
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GXP has been the subject of several research reports. Zacks Investment Research lowered Great Plains Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, March 21st. Barclays PLC reaffirmed an “equal weight” rating and set a $30.00 price objective (up previously from $27.00) on shares of Great Plains Energy in a research report on Saturday, March 11th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Great Plains Energy in a research report on Thursday, March 30th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Great Plains Energy has an average rating of “Buy” and an average target price 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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