Arrowstreet Capital Limited Partnership Sells 1,266,767 Shares of Korea Electric Power Corporation $KEP

Key Points

• Arrowstreet Capital cut its Korea Electric Power stake by 91.6% in the first quarter, selling 1,266,767 shares and retaining 116,196 shares valued at approximately $1.66 million.
• Several other institutional investors increased their positions, including Barometer Capital Management, which boosted its holdings by 313.9%, and Sei Investments, which raised its stake by 44%.
• Analyst sentiment remains negative: Zacks Research, Morgan Stanley, and Weiss Ratings all downgraded the stock, resulting in a consensus “Reduce” rating. KEP recently traded at $12.38, while its latest quarterly earnings beat estimates but revenue fell short.

Arrowstreet Capital Limited Partnership decreased its stake in Korea Electric Power Corporation (NYSE:KEP - Free Report) by 91.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,196 shares of the utilities provider's stock after selling 1,266,767 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Korea Electric Power were worth $1,656,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of KEP. Sei Investments Co. increased its holdings in shares of Korea Electric Power by 44.0% during the 1st quarter. Sei Investments Co. now owns 134,863 shares of the utilities provider's stock worth $1,922,000 after purchasing an additional 41,239 shares during the period. First Trust Advisors LP grew its position in Korea Electric Power by 39.2% during the first quarter. First Trust Advisors LP now owns 46,141 shares of the utilities provider's stock worth $658,000 after buying an additional 12,998 shares in the last quarter. Barometer Capital Management Inc. increased its stake in Korea Electric Power by 313.9% during the first quarter. Barometer Capital Management Inc. now owns 71,600 shares of the utilities provider's stock valued at $1,020,000 after acquiring an additional 54,300 shares during the period. Summit Global Investments increased its stake in Korea Electric Power by 47.1% during the first quarter. Summit Global Investments now owns 58,808 shares of the utilities provider's stock valued at $838,000 after acquiring an additional 18,832 shares during the period. Finally, Dorsey Wright & Associates raised its holdings in Korea Electric Power by 40.0% in the 1st quarter. Dorsey Wright & Associates now owns 166,344 shares of the utilities provider's stock valued at $2,370,000 after acquiring an additional 47,526 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have commented on KEP. Zacks Research downgraded Korea Electric Power from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Morgan Stanley lowered Korea Electric Power from an "equal weight" rating to an "underweight" rating in a research note on Tuesday, May 19th. Finally, Weiss Ratings cut Korea Electric Power from a "buy (b)" rating to a "hold (c+)" rating in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Reduce".

Korea Electric Power Stock Up 0.4%

Shares of KEP opened at $12.38 on Thursday. The stock has a market cap of $15.90 billion, a price-to-earnings ratio of 2.59, a P/E/G ratio of 2.13 and a beta of 0.95. The company has a quick ratio of 0.29, a current ratio of 0.43 and a debt-to-equity ratio of 1.56. Korea Electric Power Corporation has a 12 month low of $11.25 and a 12 month high of $23.41. The company has a 50-day moving average price of $12.30 and a two-hundred day moving average price of $15.45.

Korea Electric Power (NYSE:KEP - Get Free Report) last released its quarterly earnings data on Wednesday, June 17th. The utilities provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.06. The company had revenue of $16.22 billion for the quarter, compared to analyst estimates of $17.21 billion. Korea Electric Power had a return on equity of 18.25% and a net margin of 8.95%. Equities analysts predict that Korea Electric Power Corporation will post 2.83 EPS for the current fiscal year.

About Korea Electric Power

Korea Electric Power (KEP) is a South Korea–based integrated electric utility engaged in the generation, transmission and distribution of electricity. The company's activities span power plant operation and maintenance, grid management, fuel procurement and power trading, as well as engineering, procurement and construction (EPC) services for large-scale power projects. Its asset base includes a mix of thermal, nuclear, hydro and renewable generation capacity, and the company supports system planning and reliability functions for the national electricity network.

In addition to core utility operations, KEP provides a range of technical and consulting services tied to power infrastructure, including plant construction, refurbishment and decommissioning support.

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