Great Plains Energy Incorporated (GXP) Expected to Post Earnings of $0.12 Per Share
Analysts expect Great Plains Energy Incorporated (NYSE:GXP) to post earnings of $0.12 per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Great Plains Energy’s earnings, with the highest EPS estimate coming in at $0.15 and the lowest estimate coming in at $0.09. Great Plains Energy posted earnings of $0.17 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 29.4%. The company is expected to announce its next earnings report after the market closes on Thursday, May 4th.
On average, analysts expect that Great Plains Energy will report full year earnings of $1.74 per share for the current fiscal year, with EPS estimates ranging from $1.66 to $1.80. For the next year, analysts forecast that the business will post earnings of $1.79 per share, with EPS estimates ranging from $1.66 to $1.90. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Great Plains Energy.
Great Plains Energy (NYSE:GXP) last issued its quarterly earnings results on Thursday, February 23rd. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.03. Great Plains Energy had a return on equity of 7.87% and a net margin of 8.06%. The business earned $576.30 million during the quarter, compared to analyst estimates of $570.88 million. During the same quarter in the prior year, the business posted $0.15 EPS.
Several brokerages recently issued reports on GXP. Zacks Investment Research raised shares of Great Plains Energy from a “sell” rating to a “hold” rating in a research note on Wednesday. Evercore ISI reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Great Plains Energy in a research note on Thursday, March 30th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $30.00 price objective (up previously from $27.00) on shares of Great Plains Energy in a research note on Saturday, March 11th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $31.88.
Shares of Great Plains Energy (NYSE:GXP) traded down 0.03% during midday trading on Tuesday, reaching $29.54. The company’s stock had a trading volume of 3,662,437 shares. The stock has a 50-day moving average of $29.03 and a 200 day moving average of $27.85. The firm has a market capitalization of $6.35 billion, a P/E ratio of 18.35 and a beta of 0.40. Great Plains Energy has a 12-month low of $25.85 and a 12-month high of $32.24.
Several hedge funds have recently bought and sold shares of GXP. Equitec Specialists LLC purchased a new stake in Great Plains Energy during the third quarter valued at $648,000. Louisiana State Employees Retirement System boosted its stake in Great Plains Energy by 30.7% in the third quarter. Louisiana State Employees Retirement System now owns 53,700 shares of the utilities provider’s stock valued at $1,465,000 after buying an additional 12,600 shares during the period. Miller Howard Investments Inc. NY boosted its stake in Great Plains Energy by 0.7% in the third quarter. Miller Howard Investments Inc. NY now owns 66,207 shares of the utilities provider’s stock valued at $1,807,000 after buying an additional 432 shares during the period. State of Alaska Department of Revenue boosted its stake in Great Plains Energy by 5.3% in the third quarter. State of Alaska Department of Revenue now owns 13,133 shares of the utilities provider’s stock valued at $358,000 after buying an additional 663 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in Great Plains Energy by 14.6% in the third quarter. Great West Life Assurance Co. Can now owns 317,034 shares of the utilities provider’s stock valued at $8,662,000 after buying an additional 40,285 shares during the period. 90.15% of the stock is owned by institutional investors and hedge funds.
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About Great Plains Energy
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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