Great Plains Energy (GXP) Holdings Increased by PNC Financial Services Group Inc.

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PNC Financial Services Group Inc. increased its holdings in shares of Great Plains Energy (NYSE:GXP) by 32.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,120 shares of the utilities provider’s stock after buying an additional 6,812 shares during the period. PNC Financial Services Group Inc.’s holdings in Great Plains Energy were worth $895,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GXP. ING Groep NV bought a new stake in shares of Great Plains Energy during the fourth quarter worth approximately $204,000. Teacher Retirement System of Texas raised its stake in shares of Great Plains Energy by 316.0% during the fourth quarter. Teacher Retirement System of Texas now owns 73,959 shares of the utilities provider’s stock worth $2,384,000 after buying an additional 56,181 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Great Plains Energy by 8.7% during the fourth quarter. California Public Employees Retirement System now owns 476,380 shares of the utilities provider’s stock worth $15,358,000 after buying an additional 37,958 shares during the last quarter. Swiss National Bank raised its stake in shares of Great Plains Energy by 2.4% during the fourth quarter. Swiss National Bank now owns 367,300 shares of the utilities provider’s stock worth $11,842,000 after buying an additional 8,500 shares during the last quarter. Finally, Barings LLC bought a new stake in shares of Great Plains Energy during the fourth quarter worth approximately $375,000. 88.91% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have commented on GXP shares. TheStreet raised shares of Great Plains Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, May 2nd. SunTrust Banks raised shares of Great Plains Energy from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. JPMorgan Chase & Co. upped their target price on shares of Great Plains Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, May 23rd. ValuEngine downgraded shares of Great Plains Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, June 5th. Finally, Zacks Investment Research downgraded shares of Great Plains Energy from a “strong-buy” rating to a “sell” rating in a research note on Wednesday, May 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Great Plains Energy presently has an average rating of “Buy” and a consensus price target of $32.00.

Great Plains Energy remained flat at $$31.99 during trading hours on Thursday, according to MarketBeat Ratings. Great Plains Energy has a 1-year low of $28.46 and a 1-year high of $34.72. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 18.39 and a beta of 0.35. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.37 and a current ratio of 1.61.

Great Plains Energy (NYSE:GXP) last announced its earnings results on Wednesday, May 2nd. The utilities provider reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.04. Great Plains Energy had a negative net margin of 2.26% and a positive return on equity of 5.52%. The business had revenue of $583.90 million during the quarter, compared to analysts’ expectations of $591.44 million. During the same quarter in the prior year, the company posted $0.13 earnings per share.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 20th. Shareholders of record on Wednesday, May 30th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Tuesday, May 29th. Great Plains Energy’s dividend payout ratio is currently 63.22%.

About Great Plains Energy

Great Plains Energy Incorporated, through its subsidiaries, generates, transmits, distributes, and sells electricity. It also provides regulated steam services in St. Joseph, Missouri. The company generates electricity using coal, nuclear, natural gas, oil, wind, solar, landfill gas, and hydroelectric resources.

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

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