Great Plains Energy Inc (GXP) PT Set at $35.00 by J P Morgan Chase & Co

Great Plains Energy Inc (NYSE:GXP) has been given a $35.00 price objective by equities research analysts at J P Morgan Chase & Co in a report issued on Thursday. The brokerage currently has a “buy” rating on the utilities provider’s stock. J P Morgan Chase & Co’s target price would suggest a potential upside of 10.10% from the company’s previous close.

GXP has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday. BidaskClub upgraded shares of Great Plains Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. KeyCorp restated a “hold” rating on shares of Great Plains Energy in a report on Friday, September 1st. SunTrust Banks, Inc. restated a “hold” rating and issued a $30.00 price objective on shares of Great Plains Energy in a report on Wednesday, October 4th. Finally, Wells Fargo & Company upgraded shares of Great Plains Energy from a “market perform” rating to an “outperform” rating in a report on Monday, October 2nd. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $31.43.

Shares of Great Plains Energy (NYSE GXP) traded down 0.47% during trading on Thursday, reaching $31.79. 1,284,742 shares of the company traded hands. The firm’s 50-day moving average is $30.79 and its 200-day moving average is $29.92. The stock has a market capitalization of $6.85 billion, a PE ratio of 37.71 and a beta of 0.44. Great Plains Energy has a 12-month low of $25.85 and a 12-month high of $32.09.

Great Plains Energy (NYSE:GXP) last released its quarterly earnings results on Wednesday, August 9th. The utilities provider reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.04). Great Plains Energy had a return on equity of 5.62% and a net margin of 8.00%. The company had revenue of $682.60 million during the quarter, compared to analysts’ expectations of $677.00 million. During the same period in the prior year, the firm earned $0.55 EPS. On average, equities analysts predict that Great Plains Energy will post $1.60 earnings per share for the current fiscal year.

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In related news, CFO Kevin E. Bryant sold 9,853 shares of the company’s stock in a transaction on Monday, September 18th. The shares were 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 directly owns 38,003 shares in the company, valued at approximately $1,164,411.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Heather A. Humphrey sold 3,500 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $30.86, for a total transaction of $108,010.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,391 shares of company stock valued at $838,626. Company insiders own 0.41% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Advisory Services Network LLC raised its holdings in Great Plains Energy by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 4,793 shares of the utilities provider’s stock valued at $140,000 after buying an additional 45 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Great Plains Energy by 0.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 19,293 shares of the utilities provider’s stock valued at $566,000 after buying an additional 57 shares during the last quarter. Capstone Asset Management Co. raised its holdings in Great Plains Energy by 0.4% during the 2nd quarter. Capstone Asset Management Co. now owns 19,562 shares of the utilities provider’s stock valued at $573,000 after buying an additional 70 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in Great Plains Energy by 1.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,966 shares of the utilities provider’s stock valued at $321,000 after buying an additional 147 shares during the last quarter. Finally, World Asset Management Inc raised its holdings in Great Plains Energy by 1.1% during the 2nd quarter. World Asset Management Inc now owns 14,690 shares of the utilities provider’s stock valued at $430,000 after buying an additional 153 shares during the last quarter. Institutional investors own 87.90% of the company’s stock.

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.

Analyst Recommendations for Great Plains Energy (NYSE:GXP)

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