Favorable News Coverage Very Likely to Affect Great Plains Energy (GXP) Share Price

News stories about Great Plains Energy (NYSE:GXP) have been trending positive on Saturday, Accern Sentiment reports. The research group identifies negative and positive press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Great Plains Energy earned a daily sentiment score of 0.31 on Accern’s scale. Accern also assigned media headlines about the utilities provider an impact score of 88 out of 100, meaning that recent press coverage is very likely to have an effect on the company’s share price in the near term.

Here are some of the news stories that may have impacted Accern Sentiment Analysis’s analysis:

Several research analysts have commented on GXP shares. J P Morgan Chase & Co upgraded Great Plains Energy from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $31.00 to $32.00 in a research note on Tuesday, July 11th. Zacks Investment Research upgraded Great Plains Energy from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Tuesday. Finally, BidaskClub upgraded Great Plains Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Great Plains Energy currently has an average rating of “Buy” and a consensus price target of $31.56.

Shares of Great Plains Energy (NYSE GXP) traded up 0.36% during mid-day trading on Friday, hitting $30.74. The stock had a trading volume of 3,878,390 shares. The company has a market cap of $6.62 billion, a PE ratio of 25.47 and a beta of 0.44. The stock’s 50-day moving average is $29.77 and its 200 day moving average is $28.81. Great Plains Energy has a 12 month low of $25.85 and a 12 month high of $30.81.

Great Plains Energy (NYSE:GXP) last released its earnings results on Thursday, May 4th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Great Plains Energy had a return on equity of 6.52% and a net margin of 9.50%. The firm had revenue of $570.70 million during the quarter, compared to analysts’ expectations of $584.92 million. During the same quarter last year, the business posted $0.17 earnings per share. On average, equities research analysts forecast that Great Plains Energy will post $1.66 earnings per share for the current fiscal year.

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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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