Great Plains Energy (NYSE:GXP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, January 3rd.

According to Zacks, “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, and hydroelectric resources. It has approximately 6,500 megawatts of generating capacity. The company sells electricity to approximately 855,700 customers in western Missouri and eastern Kansas, including approximately 753,500 residences and 99,700 commercial firms, as well as 2,500 industrials, municipalities, and other electric utilities. “

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Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Co raised shares of Great Plains Energy from a “market perform” rating to an “outperform” rating in a report on Monday, October 2nd. JPMorgan Chase & Co. set a $35.00 target price on shares of Great Plains Energy and gave the company a “buy” rating in a report on Thursday, October 12th. Bank of America began coverage on shares of Great Plains Energy in a report on Tuesday, October 24th. They set a “buy” rating and a $35.00 target price on the stock. ValuEngine raised shares of Great Plains Energy from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $31.00 price target on shares of Great Plains Energy in a report on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Great Plains Energy has an average rating of “Buy” and a consensus price target of $32.33.

Great Plains Energy (NYSE:GXP) traded up $0.36 during trading hours on Wednesday, hitting $31.01. 242,592 shares of the company were exchanged, compared to its average volume of 1,287,829. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.44 and a quick ratio of 1.24. The company has a market cap of $6,743.74, a PE ratio of 153.26, a PEG ratio of 3.44 and a beta of 0.47. Great Plains Energy has a 52 week low of $26.80 and a 52 week high of $34.72.

Great Plains Energy (NYSE:GXP) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. Great Plains Energy had a net margin of 3.42% and a return on equity of 5.41%. The company had revenue of $857.20 million for the quarter, compared to analysts’ expectations of $805.72 million. During the same quarter in the previous year, the firm posted $1.00 EPS. sell-side analysts anticipate that Great Plains Energy will post 1.74 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in Great Plains Energy by 90.3% in the second 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 grew its position in Great Plains Energy by 237.8% in the third quarter. Commonwealth Bank of Australia now owns 6,159,458 shares of the utilities provider’s stock worth $185,952,000 after acquiring an additional 4,336,097 shares in the last quarter. Jennison Associates LLC grew its position in Great Plains Energy by 24.4% in the fourth quarter. Jennison Associates LLC now owns 4,943,982 shares of the utilities provider’s stock worth $159,394,000 after acquiring an additional 969,842 shares in the last quarter. Janus Henderson Group PLC grew its position in Great Plains Energy by 5.6% in the third quarter. Janus Henderson Group PLC now owns 4,214,440 shares of the utilities provider’s stock worth $127,698,000 after acquiring an additional 222,763 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Great Plains Energy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 3,596,059 shares of the utilities provider’s stock worth $108,959,000 after acquiring an additional 119,519 shares in the last quarter. 87.11% of the stock is currently owned by hedge funds and other institutional investors.

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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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