Great Plains Energy Incorporated (GXP) to Issue Quarterly Dividend of $0.28

Great Plains Energy Incorporated (NYSE:GXP) declared a quarterly dividend on Tuesday, February 13th, RTT News reports. Shareholders of record on Tuesday, February 27th will be given a dividend of 0.275 per share by the utilities provider on Tuesday, March 20th. This represents a $1.10 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Monday, February 26th.

Great Plains Energy has increased its dividend payment by an average of 5.6% annually over the last three years and has increased its dividend every year for the last 7 years. Great Plains Energy has a payout ratio of 62.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Great Plains Energy to earn $1.80 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 61.1%.

Great Plains Energy (NYSE:GXP) opened at $29.78 on Wednesday. Great Plains Energy has a 1 year low of $27.60 and a 1 year high of $34.72. 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 $6,581.99, a PE ratio of 17.54, a price-to-earnings-growth ratio of 3.40 and a beta of 0.38.

A number of research firms have commented on GXP. UBS Group began coverage on shares of Great Plains Energy in a research report on Friday, February 2nd. They issued a “neutral” rating and a $32.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on shares of Great Plains Energy from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. SunTrust Banks set a $29.00 target price on shares of Great Plains Energy and gave the company a “hold” rating in a research report on Tuesday, January 16th. Morgan Stanley raised shares of Great Plains Energy to a “buy” rating and set a $26.00 target price on the stock in a research report on Tuesday, February 13th. Finally, ValuEngine raised shares of Great Plains Energy from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $31.50.

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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.

Dividend History for Great Plains Energy (NYSE:GXP)

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