Great Plains Energy Inc (GXP) Position Increased by Castleton Investment Management LLC
Castleton Investment Management LLC increased its holdings in shares of Great Plains Energy Inc (NYSE:GXP) by 11.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 365,538 shares of the utilities provider’s stock after purchasing an additional 37,236 shares during the quarter. Great Plains Energy accounts for about 3.7% of Castleton Investment Management LLC’s investment portfolio, making the stock its 9th largest holding. Castleton Investment Management LLC owned approximately 0.17% of Great Plains Energy worth $10,702,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Suntrust Banks Inc. purchased a new stake in Great Plains Energy during the 1st quarter worth $229,000. UBS Asset Management Americas Inc. increased its holdings in Great Plains Energy by 26.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 153,669 shares of the utilities provider’s stock valued at $4,490,000 after purchasing an additional 32,093 shares in the last quarter. Trexquant Investment LP acquired a new stake in Great Plains Energy in the 1st quarter valued at $269,000. Nordea Investment Management AB increased its holdings in Great Plains Energy by 18.3% in the 1st quarter. Nordea Investment Management AB now owns 48,367 shares of the utilities provider’s stock valued at $1,413,000 after purchasing an additional 7,499 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Great Plains Energy by 93.4% in the 1st quarter. Victory Capital Management Inc. now owns 920,668 shares of the utilities provider’s stock valued at $26,901,000 after purchasing an additional 444,546 shares in the last quarter. 87.90% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on GXP. BidaskClub raised Great Plains Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Zacks Investment Research raised Great Plains Energy from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. J P Morgan Chase & Co raised Great Plains Energy from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $31.00 to $32.00 in a research report on Tuesday, July 11th. KeyCorp reaffirmed a “hold” rating on shares of Great Plains Energy in a research report on Friday, September 1st. Finally, Wells Fargo & Company upgraded Great Plains Energy from a “market perform” rating to an “outperform” rating in a research note on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Great Plains Energy has a consensus rating of “Buy” and an average price target of $31.00.
In other Great Plains Energy news, CFO Kevin E. Bryant sold 9,853 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $30.64, for a total transaction of $301,895.92. Following the completion of the sale, the chief financial officer now owns 38,003 shares of the company’s stock, valued at $1,164,411.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lori A. Wright sold 7,668 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $30.54, for a total value of $234,180.72. The disclosure for this sale can be found here. Insiders sold a total of 27,391 shares of company stock worth $838,626 over the last three months. 0.41% of the stock is owned by company insiders.
Great Plains Energy Inc (GXP) traded up 0.376% during midday trading on Wednesday, reaching $30.665. 772,114 shares of the company traded hands. Great Plains Energy Inc has a 12 month low of $25.85 and a 12 month high of $31.69. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 36.376 and a beta of 0.44. The firm has a 50 day moving average of $30.80 and a 200-day moving average of $29.80.
Great Plains Energy (NYSE:GXP) last released its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.04). The company had revenue of $682.60 million for the quarter, compared to the consensus estimate of $677.00 million. Great Plains Energy had a return on equity of 5.62% and a net margin of 8.00%. During the same quarter last year, the company posted $0.55 EPS. Analysts forecast that Great Plains Energy Inc will post $1.60 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Tuesday, August 29th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, August 25th. Great Plains Energy’s payout ratio is 105.77%.
Great Plains Energy 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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