Today: Today, Nordea Investment Management AB Buys New Position in Great Plains Energy Inc. (GXP)

Today, Nordea Investment Management AB Buys New Position in Great Plains Energy Inc. (GXP)

Nordea Investment Management AB acquired a new position in shares of Great Plains Energy Inc. (NYSE:GXP) during the third quarter, Holdings Channel reports. The firm acquired 40,868 shares of the company’s stock, valued at approximately $1,115,000.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Great Plains Energy by 14.8% in the second quarter. Vanguard Group Inc. now owns 13,136,467 shares of the company’s stock worth $399,348,000 after buying an additional 1,697,073 shares during the period. BlackRock Fund Advisors raised its position in Great Plains Energy by 6.1% in the second quarter. BlackRock Fund Advisors now owns 8,382,630 shares of the company’s stock worth $254,832,000 after buying an additional 478,420 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Great Plains Energy by 2.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,632,640 shares of the company’s stock worth $140,832,000 after buying an additional 96,813 shares during the period. Boston Partners raised its position in Great Plains Energy by 12.0% in the second quarter. Boston Partners now owns 4,326,511 shares of the company’s stock worth $131,526,000 after buying an additional 462,867 shares during the period. Finally, State Street Corp raised its position in Great Plains Energy by 1.9% in the second quarter. State Street Corp now owns 4,267,290 shares of the company’s stock worth $129,723,000 after buying an additional 80,565 shares during the period. 66.95% of the stock is owned by institutional investors and hedge funds.

Shares of Great Plains Energy Inc. (NYSE:GXP) opened at 26.79 on Friday. The stock’s 50 day moving average price is $27.48 and its 200 day moving average price is $28.68. The company has a market capitalization of $4.14 billion, a P/E ratio of 19.46 and a beta of 0.39. Great Plains Energy Inc. has a 52-week low of $25.57 and a 52-week high of $32.74.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Tuesday, November 29th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.11%. This is a boost from Great Plains Energy’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, November 25th. Great Plains Energy’s payout ratio is presently 76.09%.

A number of research firms recently weighed in on GXP. Wolfe Research raised shares of Great Plains Energy from a “market perform” rating to an “outperform” rating in a report on Monday, October 3rd. Zacks Investment Research raised shares of Great Plains Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 19th. SunTrust Banks Inc. cut their target price on shares of Great Plains Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, August 29th. Bank of America Corp. raised shares of Great Plains Energy from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a report on Monday, October 3rd. Finally, Barclays PLC raised shares of Great Plains Energy from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $31.00 to $29.00 in a report on Thursday, September 29th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $31.86.

Great Plains Energy Company Profile

Great Plains Energy Incorporated is a public utility holding company. The Company operates through electric utility segment. The Company does not own or operate any assets other than the stock of its subsidiaries. The Company’s subsidiaries with operations include Kansas City Power & Light Company (KCP&L) and KCP&L Greater Missouri Operations Company (GMO).

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