Blackrock Is Buying Great Plains Energy Inc. (NYSE:GXP) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Great Plains Energy Inc. (NYSE:GXP) reported that Blackrock Inc. has picked up 194 of common stock as of 2017-01-24.

The acquisition brings the aggregate amount owned by Blackrock Inc. to a total of 194 representing a 9.1% stake in the company.

For those not familiar with the company, 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). KCP&L is an integrated, regulated electric utility that provides electricity to customers primarily in the states of Missouri and Kansas. KCP&L has an active subsidiary, Kansas City Power & Light Receivables Company (KCP&L Receivables Company). GMO is an integrated, regulated electric utility that provides electricity to customers in the state of Missouri.

A glance at Great Plains Energy Inc. (NYSE:GXP)’s key stats reveals a current market capitalization of 5.84 billion based on 215.30 million shares outstanding and a price at last close of $26.92 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2013-09-04, Sherman picked up 20,000 at a purchase price of $21.63. This brings their total holding to 42,485 as of the date of the filing.

On the sell side, the most recent transaction saw Deggendorf unload 9,000 shares at a sale price of $30.91. This brings their total holding to 42,706.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Great Plains Energy Inc. (NYSE:GXP) as things move forward to see if its progress aligns with these transactions.

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