Intrinsic value of Great Plains Energy - GXP

Previous Close

$30.33

  Intrinsic Value

$32.62

stock screener

  Rating & Target

hold

+8%

Previous close

$30.33

 
Intrinsic value

$32.62

 
Up/down potential

+8%

 
Rating

hold

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of GXP stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  6.95
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  2,676
  2,730
  2,792
  2,864
  2,945
  3,034
  3,132
  3,239
  3,354
  3,478
  3,612
  3,755
  3,907
  4,069
  4,242
  4,425
  4,619
  4,824
  5,041
  5,270
  5,512
  5,768
  6,037
  6,321
  6,621
  6,936
  7,268
  7,617
  7,985
  8,371
  8,778
Variable operating expenses, $m
 
  1,332
  1,362
  1,396
  1,435
  1,478
  1,525
  1,577
  1,632
  1,692
  1,757
  1,809
  1,882
  1,960
  2,043
  2,131
  2,225
  2,324
  2,428
  2,539
  2,655
  2,778
  2,908
  3,045
  3,189
  3,341
  3,501
  3,669
  3,846
  4,032
  4,228
Fixed operating expenses, $m
 
  788
  808
  828
  849
  870
  892
  914
  937
  960
  984
  1,009
  1,034
  1,060
  1,087
  1,114
  1,142
  1,170
  1,199
  1,229
  1,260
  1,292
  1,324
  1,357
  1,391
  1,426
  1,461
  1,498
  1,535
  1,574
  1,613
Total operating expenses, $m
  2,057
  2,120
  2,170
  2,224
  2,284
  2,348
  2,417
  2,491
  2,569
  2,652
  2,741
  2,818
  2,916
  3,020
  3,130
  3,245
  3,367
  3,494
  3,627
  3,768
  3,915
  4,070
  4,232
  4,402
  4,580
  4,767
  4,962
  5,167
  5,381
  5,606
  5,841
Operating income, $m
  619
  610
  622
  639
  661
  686
  715
  748
  785
  826
  871
  937
  991
  1,049
  1,112
  1,180
  1,252
  1,330
  1,413
  1,502
  1,597
  1,698
  1,805
  1,920
  2,041
  2,169
  2,306
  2,450
  2,603
  2,765
  2,937
EBITDA, $m
  1,068
  773
  790
  810
  836
  866
  900
  939
  982
  1,030
  1,082
  1,139
  1,201
  1,268
  1,340
  1,418
  1,501
  1,590
  1,685
  1,786
  1,894
  2,008
  2,130
  2,260
  2,397
  2,542
  2,697
  2,860
  3,033
  3,216
  3,409
Interest expense (income), $m
  191
  158
  165
  172
  180
  190
  200
  212
  225
  238
  253
  268
  285
  303
  322
  343
  364
  387
  411
  436
  463
  492
  522
  554
  587
  622
  659
  698
  739
  783
  828
Earnings before tax, $m
  460
  451
  458
  467
  480
  496
  514
  536
  560
  588
  618
  669
  706
  746
  790
  837
  888
  943
  1,002
  1,066
  1,134
  1,206
  1,283
  1,366
  1,454
  1,547
  1,646
  1,752
  1,864
  1,983
  2,109
Tax expense, $m
  172
  122
  124
  126
  130
  134
  139
  145
  151
  159
  167
  181
  191
  201
  213
  226
  240
  255
  271
  288
  306
  326
  347
  369
  392
  418
  445
  473
  503
  535
  569
Net income, $m
  290
  330
  334
  341
  350
  362
  375
  391
  409
  429
  451
  488
  515
  545
  577
  611
  648
  689
  732
  778
  828
  880
  937
  997
  1,061
  1,129
  1,202
  1,279
  1,361
  1,447
  1,539

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  2,293
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  13,570
  11,517
  11,782
  12,085
  12,425
  12,801
  13,215
  13,665
  14,152
  14,677
  15,240
  15,842
  16,485
  17,170
  17,898
  18,670
  19,488
  20,354
  21,270
  22,237
  23,259
  24,337
  25,474
  26,673
  27,935
  29,265
  30,666
  32,139
  33,690
  35,322
  37,038
Adjusted assets (=assets-cash), $m
  11,277
  11,517
  11,782
  12,085
  12,425
  12,801
  13,215
  13,665
  14,152
  14,677
  15,240
  15,842
  16,485
  17,170
  17,898
  18,670
  19,488
  20,354
  21,270
  22,237
  23,259
  24,337
  25,474
  26,673
  27,935
  29,265
  30,666
  32,139
  33,690
  35,322
  37,038
Revenue / Adjusted assets
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
  0.237
Average production assets, $m
  720
  734
  751
  770
  792
  816
  842
  871
  902
  936
  972
  1,010
  1,051
  1,095
  1,141
  1,190
  1,242
  1,298
  1,356
  1,418
  1,483
  1,552
  1,624
  1,700
  1,781
  1,866
  1,955
  2,049
  2,148
  2,252
  2,361
Working capital, $m
  1,675
  101
  103
  106
  109
  112
  116
  120
  124
  129
  134
  139
  145
  151
  157
  164
  171
  178
  187
  195
  204
  213
  223
  234
  245
  257
  269
  282
  295
  310
  325
Total debt, $m
  4,082
  3,504
  3,661
  3,840
  4,042
  4,265
  4,510
  4,777
  5,066
  5,377
  5,711
  6,069
  6,450
  6,856
  7,287
  7,745
  8,230
  8,744
  9,287
  9,861
  10,467
  11,106
  11,780
  12,491
  13,240
  14,028
  14,859
  15,733
  16,652
  17,620
  18,638
Total liabilities, $m
  7,408
  6,830
  6,987
  7,166
  7,368
  7,591
  7,836
  8,103
  8,392
  8,703
  9,037
  9,395
  9,776
  10,182
  10,613
  11,071
  11,556
  12,070
  12,613
  13,187
  13,793
  14,432
  15,106
  15,817
  16,566
  17,354
  18,185
  19,059
  19,978
  20,946
  21,964
Total equity, $m
  6,162
  4,687
  4,795
  4,918
  5,057
  5,210
  5,378
  5,561
  5,760
  5,973
  6,203
  6,448
  6,710
  6,988
  7,284
  7,599
  7,932
  8,284
  8,657
  9,051
  9,466
  9,905
  10,368
  10,856
  11,370
  11,911
  12,481
  13,081
  13,712
  14,376
  15,075
Total liabilities and equity, $m
  13,570
  11,517
  11,782
  12,084
  12,425
  12,801
  13,214
  13,664
  14,152
  14,676
  15,240
  15,843
  16,486
  17,170
  17,897
  18,670
  19,488
  20,354
  21,270
  22,238
  23,259
  24,337
  25,474
  26,673
  27,936
  29,265
  30,666
  32,140
  33,690
  35,322
  37,039
Debt-to-equity ratio
  0.662
  0.750
  0.760
  0.780
  0.800
  0.820
  0.840
  0.860
  0.880
  0.900
  0.920
  0.940
  0.960
  0.980
  1.000
  1.020
  1.040
  1.060
  1.070
  1.090
  1.110
  1.120
  1.140
  1.150
  1.160
  1.180
  1.190
  1.200
  1.210
  1.230
  1.240
Adjusted equity ratio
  0.373
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407
  0.407

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  290
  330
  334
  341
  350
  362
  375
  391
  409
  429
  451
  488
  515
  545
  577
  611
  648
  689
  732
  778
  828
  880
  937
  997
  1,061
  1,129
  1,202
  1,279
  1,361
  1,447
  1,539
Depreciation, amort., depletion, $m
  449
  164
  167
  171
  175
  180
  185
  191
  197
  204
  211
  202
  210
  219
  228
  238
  248
  260
  271
  284
  297
  310
  325
  340
  356
  373
  391
  410
  430
  450
  472
Funds from operations, $m
  736
  493
  501
  512
  526
  542
  561
  582
  606
  633
  662
  690
  725
  763
  805
  849
  897
  948
  1,003
  1,062
  1,124
  1,191
  1,262
  1,337
  1,417
  1,502
  1,593
  1,689
  1,790
  1,898
  2,012
Change in working capital, $m
  -48
  2
  2
  3
  3
  3
  4
  4
  4
  5
  5
  5
  6
  6
  6
  7
  7
  8
  8
  8
  9
  9
  10
  11
  11
  12
  12
  13
  14
  14
  15
Cash from operations, $m
  784
  491
  499
  510
  523
  539
  557
  578
  602
  628
  657
  685
  720
  757
  798
  842
  890
  941
  995
  1,053
  1,115
  1,181
  1,252
  1,327
  1,406
  1,491
  1,581
  1,676
  1,777
  1,883
  1,997
Maintenance CAPEX, $m
  0
  -144
  -147
  -150
  -154
  -158
  -163
  -168
  -174
  -180
  -187
  -194
  -202
  -210
  -219
  -228
  -238
  -248
  -260
  -271
  -284
  -297
  -310
  -325
  -340
  -356
  -373
  -391
  -410
  -430
  -450
New CAPEX, $m
  -609
  -14
  -17
  -19
  -22
  -24
  -26
  -29
  -31
  -33
  -36
  -38
  -41
  -44
  -46
  -49
  -52
  -55
  -58
  -62
  -65
  -69
  -72
  -76
  -81
  -85
  -89
  -94
  -99
  -104
  -109
Cash from investing activities, $m
  -1,684
  -158
  -164
  -169
  -176
  -182
  -189
  -197
  -205
  -213
  -223
  -232
  -243
  -254
  -265
  -277
  -290
  -303
  -318
  -333
  -349
  -366
  -382
  -401
  -421
  -441
  -462
  -485
  -509
  -534
  -559
Free cash flow, $m
  -900
  333
  335
  340
  347
  356
  368
  381
  397
  414
  434
  452
  477
  504
  533
  565
  600
  637
  677
  720
  766
  816
  869
  925
  986
  1,050
  1,118
  1,191
  1,268
  1,350
  1,437
Issuance/(repayment) of debt, $m
  100
  139
  157
  180
  202
  223
  245
  267
  289
  311
  334
  357
  381
  406
  431
  458
  485
  514
  543
  574
  606
  639
  674
  711
  749
  789
  830
  874
  920
  968
  1,018
Issuance/(repurchase) of shares, $m
  2,421
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  2,375
  139
  157
  180
  202
  223
  245
  267
  289
  311
  334
  357
  381
  406
  431
  458
  485
  514
  543
  574
  606
  639
  674
  711
  749
  789
  830
  874
  920
  968
  1,018
Total cash flow (excl. dividends), $m
  1,476
  472
  492
  520
  549
  580
  613
  648
  685
  726
  768
  809
  858
  910
  964
  1,023
  1,085
  1,150
  1,220
  1,294
  1,372
  1,455
  1,543
  1,636
  1,734
  1,838
  1,948
  2,065
  2,188
  2,317
  2,454
Retained Cash Flow (-), $m
  -2,466
  -101
  -108
  -123
  -138
  -153
  -168
  -183
  -198
  -214
  -229
  -245
  -262
  -279
  -296
  -314
  -333
  -352
  -373
  -394
  -416
  -439
  -463
  -488
  -514
  -541
  -570
  -600
  -631
  -664
  -698
Prev. year cash balance distribution, $m
 
  1,576
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  1,946
  385
  396
  410
  426
  444
  465
  487
  512
  539
  564
  596
  631
  668
  709
  752
  798
  847
  900
  957
  1,017
  1,080
  1,148
  1,221
  1,297
  1,379
  1,465
  1,556
  1,653
  1,756
Discount rate, %
 
  4.50
  4.73
  4.96
  5.21
  5.47
  5.74
  6.03
  6.33
  6.65
  6.98
  7.33
  7.70
  8.08
  8.49
  8.91
  9.36
  9.82
  10.31
  10.83
  11.37
  11.94
  12.54
  13.16
  13.82
  14.51
  15.24
  16.00
  16.80
  17.64
  18.52
PV of cash for distribution, $m
 
  1,862
  351
  343
  335
  327
  318
  308
  298
  287
  275
  259
  245
  230
  214
  197
  180
  162
  145
  128
  111
  95
  80
  67
  55
  44
  35
  27
  20
  15
  11
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

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. Kansas City Power & Light Receivables Company (KCP&L Receivables Company) is the KCP&L's subsidiary. GMO is an integrated, regulated electric utility that provides electricity to customers in the state of Missouri. GMO also provides regulated steam service to certain customers in the St. Joseph, Missouri area. GMO's subsidiaries include GMO Receivables Company and MPS Merchant Services, Inc. (MPS Merchant). As of December 31, 2016, electric utility had approximately 6,500 megawatts (MWs) of owned generating capacity.

FINANCIAL RATIOS  of  Great Plains Energy (GXP)

Valuation Ratios
P/E Ratio 22.5
Price to Sales 2.4
Price to Book 1.1
Price to Tangible Book
Price to Cash Flow 8.3
Price to Free Cash Flow 37.3
Growth Rates
Sales Growth Rate 7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -10%
Cap. Spend. - 3 Yr. Gr. Rate -1.9%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 54.6%
Total Debt to Equity 66.2%
Interest Coverage 3
Management Effectiveness
Return On Assets 3.4%
Ret/ On Assets - 3 Yr. Avg. 3.3%
Return On Total Capital 3.2%
Ret/ On T. Cap. - 3 Yr. Avg. 3.1%
Return On Equity 5.9%
Return On Equity - 3 Yr. Avg. 6.2%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 41.1%
EBITDA Margin - 3 Yr. Avg. 37.8%
Operating Margin 23.1%
Oper. Margin - 3 Yr. Avg. 21.7%
Pre-Tax Margin 17.2%
Pre-Tax Margin - 3 Yr. Avg. 14.9%
Net Profit Margin 10.8%
Net Profit Margin - 3 Yr. Avg. 9.6%
Effective Tax Rate 37.4%
Eff/ Tax Rate - 3 Yr. Avg. 35.5%
Payout Ratio 66.9%

GXP stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GXP stock intrinsic value calculation we used $2676 million for the last fiscal year's total revenue generated by Great Plains Energy. The default revenue input number comes from 2016 income statement of Great Plains Energy. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our GXP stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.5%, whose default value for GXP is calculated based on our internal credit rating of Great Plains Energy, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Great Plains Energy.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of GXP stock the variable cost ratio is equal to 48.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $769 million in the base year in the intrinsic value calculation for GXP stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.7% for Great Plains Energy.

Corporate tax rate of 27% is the nominal tax rate for Great Plains Energy. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the GXP stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for GXP are equal to 26.9%.

Life of production assets of 2 years is the average useful life of capital assets used in Great Plains Energy operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for GXP is equal to 3.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $6162 million for Great Plains Energy - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 215.881 million for Great Plains Energy is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Great Plains Energy at the current share price and the inputted number of shares is $6.5 billion.

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COMPANY NEWS

▶ Great Plains Energy beats 3Q profit forecasts   [05:48AM  Associated Press]
▶ Great Plains Energy Reports Third Quarter 2017 Results   [Nov-01-17 05:17PM  Business Wire]
▶ Great Plains, Westar begin push to get regulators on board with merger   [Aug-28-17 09:25AM  American City Business Journals]
▶ Great Plains Energy reports 2Q loss   [Aug-09-17 11:52PM  Associated Press]
▶ Great Plains Energy Incorporated Declares Dividends   [Aug-08-17 09:27AM  Business Wire]
▶ No money down: Great Plains now wants no-cash merger with Westar   [Jul-13-17 05:10PM  American City Business Journals]
▶ BREAKING: Westar Energy merger with Great Plains Energy back on   [05:05PM  American City Business Journals]
▶ [$$] Great Plains/ Westar: Utility function   [01:25PM  Financial Times]
▶ KC metro leads the nation in EV adoption   [Jun-14-17 05:55PM  American City Business Journals]
▶ Kansas City Zooms Ahead in Electric Vehicle Growth   [Jun-08-17 09:56AM  Business Wire]
▶ Kansas regulators hand Great Plains/Westar deal yet another defeat   [04:15PM  American City Business Journals]
▶ Why you should (continue to) care about the $12.2B Great Plains/Westar merger   [May-08-17 01:57PM  American City Business Journals]
▶ Great Plains Energy reports 1Q loss   [08:49AM  Associated Press]
▶ Great Plains Energy Incorporated Declares Dividends   [May-02-17 09:55AM  Business Wire]
▶ With their deal crippled, Great Plains and Westar head into unknown territory   [Apr-20-17 05:20PM  American City Business Journals]
▶ Kansas regulators reject Great Plains' $12.2B merger bid for Westar   [Apr-19-17 08:05PM  American City Business Journals]
▶ Which KC-area stocks had the best, worst March? Take a look   [Apr-03-17 04:50PM  at bizjournals.com]
▶ Which KC-area stocks had the best, worst March? Take a look   [04:50PM  American City Business Journals]
▶ 5 Snubbed Utilities With 20% Gains Ahead   [Mar-22-17 09:15AM  Forbes]
▶ Which KC-area stocks had the best, worst February? Take a look   [Mar-03-17 04:00PM  at bizjournals.com]
▶ Which KC-area stocks had the best, worst February? Take a look   [04:00PM  American City Business Journals]
▶ T Rowe Price Adds 7 Stocks to Portfolio   [Feb-24-17 05:07PM  GuruFocus.com]
Financial statements of GXP
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