Dimensional Fund Advisors LP decreased its stake in shares of Great Plains Energy Incorporated (NYSE:GXP) by 0.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 663,035 shares of the utilities provider’s stock after selling 4,195 shares during the quarter. Dimensional Fund Advisors LP owned about 0.31% of Great Plains Energy worth $20,090,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Advisory Services Network LLC lifted its position in Great Plains Energy by 0.9% during the second quarter. Advisory Services Network LLC now owns 4,793 shares of the utilities provider’s stock worth $140,000 after buying an additional 45 shares in the last quarter. HL Financial Services LLC purchased a new position in Great Plains Energy during the third quarter worth approximately $205,000. CIBC Asset Management Inc purchased a new position in Great Plains Energy during the third quarter worth approximately $211,000. Cornerstone Capital Management Holdings LLC. purchased a new position in Great Plains Energy during the second quarter worth approximately $219,000. Finally, Advisor Group Inc. lifted its position in Great Plains Energy by 14.3% during the second quarter. Advisor Group Inc. now owns 8,751 shares of the utilities provider’s stock worth $233,000 after buying an additional 1,097 shares in the last quarter. Hedge funds and other institutional investors own 87.01% of the company’s stock.
Great Plains Energy Incorporated (NYSE:GXP) traded down $0.10 during mid-day trading on Wednesday, reaching $29.87. The company’s stock had a trading volume of 1,410,445 shares, compared to its average volume of 1,550,000. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.24 and a current ratio of 1.44. The firm has a market capitalization of $6,440.00, a PE ratio of 157.21, a price-to-earnings-growth ratio of 3.34 and a beta of 0.38. Great Plains Energy Incorporated has a one year low of $27.59 and a one year high of $34.72.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Tuesday, February 27th will be paid a dividend of $0.275 per share. The ex-dividend date is Monday, February 26th. This represents a $1.10 annualized dividend and a yield of 3.68%. Great Plains Energy’s dividend payout ratio (DPR) is 578.95%.
A number of brokerages recently commented on GXP. Zacks Investment Research downgraded Great Plains Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. ValuEngine upgraded Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Bank of America assumed coverage on Great Plains Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $35.00 price objective on the stock. SunTrust Banks reissued a “hold” rating and set a $31.00 target price on shares of Great Plains Energy in a research note on Tuesday, December 26th. Finally, JPMorgan Chase & Co. cut their target price on Great Plains Energy from $37.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Great Plains Energy currently has an average rating of “Buy” and an average target price of $31.50.
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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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