BlueCrest Capital Management Ltd cut its stake in Great Plains Energy (NYSE:GXP) by 70.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,800 shares of the utilities provider’s stock after selling 42,553 shares during the quarter. BlueCrest Capital Management Ltd’s holdings in Great Plains Energy were worth $574,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of GXP. Renaissance Technologies LLC lifted its position in shares of Great Plains Energy by 156.8% during the fourth quarter. Renaissance Technologies LLC now owns 2,567,915 shares of the utilities provider’s stock worth $82,790,000 after purchasing an additional 1,568,100 shares during the last quarter. Centenus Global Management LP purchased a new position in shares of Great Plains Energy during the fourth quarter valued at $7,576,000. MML Investors Services LLC purchased a new position in shares of Great Plains Energy during the fourth quarter valued at $249,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Great Plains Energy during the fourth quarter valued at $2,199,000. Finally, Leucadia National Corp increased its stake in shares of Great Plains Energy by 11.2% during the fourth quarter. Leucadia National Corp now owns 55,420 shares of the utilities provider’s stock valued at $1,787,000 after buying an additional 5,570 shares during the period. Institutional investors own 86.00% of the company’s stock.
GXP has been the topic of several research reports. TheStreet lowered Great Plains Energy from a “b-” rating to a “c” rating in a research note on Thursday, February 22nd. JPMorgan Chase cut their target price on Great Plains Energy from $37.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. Zacks Investment Research upgraded Great Plains Energy from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. SunTrust Banks reiterated a “hold” rating and issued a $31.00 target price on shares of Great Plains Energy in a research note on Tuesday, December 26th. Finally, UBS started coverage on Great Plains Energy in a research note on Friday, February 2nd. They issued a “neutral” rating and a $32.00 target price on the stock. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $32.00.
Shares of Great Plains Energy stock traded down $0.18 on Friday, reaching $31.00. 1,755,477 shares of the stock were exchanged, compared to its average volume of 1,691,626. The company has a quick ratio of 1.10, a current ratio of 1.29 and a debt-to-equity ratio of 0.67. Great Plains Energy has a twelve month low of $27.60 and a twelve month high of $34.72. The company has a market capitalization of $6,724.44, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 3.43 and a beta of 0.33.
Great Plains Energy (NYSE:GXP) last released its earnings results on Wednesday, February 21st. The utilities provider reported $0.13 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.13. Great Plains Energy had a positive return on equity of 5.25% and a negative net margin of 3.92%. The firm had revenue of $597.70 million during the quarter, compared to the consensus estimate of $606.26 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. research analysts anticipate that Great Plains Energy will post 1.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 20th. Shareholders of record on Tuesday, February 27th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Monday, February 26th. Great Plains Energy’s payout ratio is presently 63.22%.
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About Great Plains Energy
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, landfill gas, and hydroelectric resources.
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