Today: The Tower Research Capital LLC TRC invests in Great Plains Energy Inc. (GXP) Shares

The Tower Research Capital LLC TRC invests in Great Plains Energy Inc. (GXP) Shares

Tower Research Capital LLC TRC raised its stake in Great Plains Energy Inc. (NYSE:GXP) by 912.3% during the second quarter, Holdings Channel reports. The fund owned 5,001 shares of the company’s stock after buying an additional 4,507 shares during the period. Tower Research Capital LLC TRC’s holdings in Great Plains Energy were worth $152,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Acrospire Investment Management LLC increased its position in shares of Great Plains Energy by 233.3% in the second quarter. Acrospire Investment Management LLC now owns 4,000 shares of the company’s stock valued at $122,000 after buying an additional 2,800 shares during the last quarter. Assetmark Inc. acquired a new position in shares of Great Plains Energy during the second quarter valued at approximately $131,000. Public Employees Retirement Association of Colorado increased its position in shares of Great Plains Energy by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 4,966 shares of the company’s stock valued at $151,000 after buying an additional 14 shares during the last quarter. CENTRAL TRUST Co increased its position in shares of Great Plains Energy by 12.9% in the second quarter. CENTRAL TRUST Co now owns 5,112 shares of the company’s stock valued at $155,000 after buying an additional 585 shares during the last quarter. Finally, BlueMountain Capital Management LLC increased its position in shares of Great Plains Energy by 143.3% in the first quarter. BlueMountain Capital Management LLC now owns 5,430 shares of the company’s stock valued at $175,000 after buying an additional 3,198 shares during the last quarter. 80.49% of the stock is owned by hedge funds and other institutional investors.

Shares of Great Plains Energy Inc. (NYSE:GXP) opened at 26.82 on Friday. The company has a 50-day moving average price of $27.33 and a 200 day moving average price of $29.66. Great Plains Energy Inc. has a one year low of $25.44 and a one year high of $32.74. The company has a market capitalization of $4.14 billion, a PE ratio of 20.06 and a beta of 0.45.

Great Plains Energy (NYSE:GXP) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.16. Great Plains Energy had a return on equity of 7.16% and a net margin of 8.03%. During the same quarter in the previous year, the business posted $0.28 EPS. Equities analysts anticipate that Great Plains Energy Inc. will post $1.73 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Monday, August 29th were issued a dividend of $0.2625 per share. The ex-dividend date was Thursday, August 25th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.91%. Great Plains Energy’s dividend payout ratio is 78.36%.

Several brokerages have commented on GXP. Wolfe Research raised Great Plains Energy from a “market perform” rating to an “outperform” rating in a research note on Monday, October 3rd. JPMorgan Chase & Co. upped their price objective on Great Plains Energy from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, July 15th. SunTrust Banks Inc. lowered their price objective on Great Plains Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, August 29th. Bank of America Corp. raised Great Plains Energy from a “neutral” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Monday, October 3rd. Finally, Barclays PLC raised Great Plains Energy from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $31.00 to $29.00 in a research note on Thursday, September 29th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $31.29.

About Great Plains Energy

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).

Related posts

Leave a Comment