AMP Capital Investors Ltd raised its holdings in Great Plains Energy Incorporated (NYSE:GXP) by 1,464.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,246,032 shares of the utilities provider’s stock after purchasing an additional 1,166,405 shares during the quarter. AMP Capital Investors Ltd owned 0.58% of Great Plains Energy worth $37,756,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. FMR LLC boosted its stake in shares of Great Plains Energy by 90.3% during the 2nd quarter. FMR LLC now owns 8,745,550 shares of the utilities provider’s stock worth $256,070,000 after acquiring an additional 4,150,082 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in Great Plains Energy by 237.8% in the 3rd quarter. Commonwealth Bank of Australia now owns 6,159,458 shares of the utilities provider’s stock valued at $185,952,000 after buying an additional 4,336,097 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Great Plains Energy in the 2nd quarter valued at about $116,876,000. Jennison Associates LLC lifted its stake in Great Plains Energy by 11.4% in the 3rd quarter. Jennison Associates LLC now owns 3,974,140 shares of the utilities provider’s stock valued at $120,416,000 after buying an additional 407,182 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Great Plains Energy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 3,596,059 shares of the utilities provider’s stock valued at $108,959,000 after buying an additional 119,519 shares in the last quarter. 87.07% of the stock is currently owned by institutional investors.
A number of brokerages recently weighed in on GXP. Zacks Investment Research lowered shares of Great Plains Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. ValuEngine upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Bank of America assumed coverage on shares of Great Plains Energy in a report on Tuesday, October 24th. They issued a “buy” rating and a $35.00 price objective for the company. SunTrust Banks restated a “hold” rating and set a $31.00 price target on shares of Great Plains Energy in a report on Tuesday. Finally, JPMorgan Chase & Co. set a $35.00 price target on shares of Great Plains Energy and gave the stock a “buy” rating in a report on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Great Plains Energy has a consensus rating of “Buy” and a consensus price target of $32.14.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.09. The company had revenue of $857.20 million during the quarter, compared to analysts’ expectations of $805.72 million. Great Plains Energy had a net margin of 3.42% and a return on equity of 5.41%. During the same quarter last year, the company posted $1.00 EPS. sell-side analysts predict that Great Plains Energy Incorporated will post 1.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 29th were given a dividend of $0.275 per share. The ex-dividend date was Monday, November 27th. This represents a $1.10 annualized dividend and a dividend yield of 3.41%. Great Plains Energy’s dividend payout ratio (DPR) is currently 550.03%.
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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