The Profund Advisors LLC Sells 5,544 Shares of Great Plains Energy Inc. (GXP)

The Profund Advisors LLC Sells 5,544 Shares of Great Plains Energy Inc. (GXP)

Profund Advisors LLC cut its position in shares of Great Plains Energy Inc. (NYSE:GXP) by 12.1% during the third quarter, Holdings Channel reports. The firm owned 40,413 shares of the company’s stock after selling 5,544 shares during the period. Profund Advisors LLC’s holdings in Great Plains Energy were worth $1,103,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Retirement Planning Group increased its position in shares of Great Plains Energy by 15.2% in the second quarter. Retirement Planning Group now owns 24,313 shares of the company’s stock worth $739,000 after buying an additional 3,215 shares during the last quarter. Quantbot Technologies LP bought a new position in Great Plains Energy during the second quarter worth approximately $2,613,000. Wright Investors Service Inc. boosted its position in Great Plains Energy by 7.0% in the second quarter. Wright Investors Service Inc. now owns 15,500 shares of the company’s stock worth $471,000 after buying an additional 1,015 shares during the period. First Citizens Bank & Trust Co. boosted its position in Great Plains Energy by 90.4% in the second quarter. First Citizens Bank & Trust Co. now owns 18,664 shares of the company’s stock worth $567,000 after buying an additional 8,861 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its position in Great Plains Energy by 5.7% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 10,878 shares of the company’s stock worth $331,000 after buying an additional 584 shares during the period. Institutional investors own 90.06% of the company’s stock.

Great Plains Energy Inc. (NYSE:GXP) traded down 1.39% on Thursday, reaching $27.05. The company had a trading volume of 2,021,303 shares. The stock has a market capitalization of $4.18 billion, a P/E ratio of 19.64 and a beta of 0.36. Great Plains Energy Inc. has a 12-month low of $25.85 and a 12-month high of $32.74. The stock’s 50-day moving average price is $27.32 and its 200-day moving average price is $27.93.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 20th. Investors of record on Tuesday, November 29th were given a $0.275 dividend. This is a positive change from Great Plains Energy’s previous quarterly dividend of $0.26. This represents a $1.10 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date was Friday, November 25th. Great Plains Energy’s dividend payout ratio is presently 79.71%.

A number of equities analysts have commented on GXP shares. Zacks Investment Research raised shares of Great Plains Energy from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, November 29th. Ladenburg Thalmann raised shares of Great Plains Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Wednesday, October 26th. Bank of America Corp. raised shares of Great Plains Energy from a “neutral” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Monday, October 3rd. Argus reaffirmed a “buy” rating and set a $36.00 price objective on shares of Great Plains Energy in a research report on Friday, September 30th. Finally, Barclays PLC raised shares of Great Plains Energy from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $31.00 to $29.00 in a research report on Thursday, September 29th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Great Plains Energy currently has a consensus rating of “Buy” and an average price target of $31.43.

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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