Bank of America Corp DE Raises Holdings in Korea Electric Power Corporation $KEP

Key Points

• Bank of America increased its Korea Electric Power stake by 617.5% in the first quarter, purchasing 214,535 additional shares to hold 249,280 shares valued at approximately $3.55 million.
• Korea Electric Power shares opened at $11.67, near their 12-month low of $11.15 and well below the 12-month high of $23.41. The company reported quarterly EPS of $0.27, below the $0.45 consensus estimate, while revenue also fell short of forecasts.
• Analyst sentiment remains cautious: recent ratings included downgrades from Morgan Stanley and Nomura, and the stock carries a consensus “Reduce” rating from analysts tracked by MarketBeat.

Bank of America Corp DE increased its stake in shares of Korea Electric Power Corporation (NYSE:KEP - Free Report) by 617.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,280 shares of the utilities provider's stock after purchasing an additional 214,535 shares during the period. Bank of America Corp DE's holdings in Korea Electric Power were worth $3,552,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Global Trust Asset Management LLC acquired a new position in Korea Electric Power in the 1st quarter valued at about $28,000. Rockefeller Capital Management L.P. boosted its stake in shares of Korea Electric Power by 47.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,264 shares of the utilities provider's stock worth $37,000 after purchasing an additional 724 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Korea Electric Power by 21.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,625 shares of the utilities provider's stock worth $44,000 after buying an additional 466 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Korea Electric Power during the fourth quarter worth about $45,000. Finally, Barclays PLC acquired a new position in shares of Korea Electric Power in the fourth quarter valued at approximately $45,000.

Korea Electric Power Stock Performance

Shares of NYSE:KEP opened at $11.67 on Friday. The business has a 50-day moving average of $11.96 and a two-hundred day moving average of $14.40. The firm has a market capitalization of $14.98 billion, a PE ratio of 2.44, a P/E/G ratio of 2.23 and a beta of 0.95. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.43 and a quick ratio of 0.29. Korea Electric Power Corporation has a 12 month low of $11.15 and a 12 month high of $23.41.

Korea Electric Power (NYSE:KEP - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The utilities provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.18). The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $15.31 billion. Korea Electric Power had a net margin of 8.95% and a return on equity of 18.25%. As a group, research analysts forecast that Korea Electric Power Corporation will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on KEP. Zacks Research upgraded Korea Electric Power from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Morgan Stanley lowered Korea Electric Power from an "equal weight" rating to an "underweight" rating in a research note on Tuesday, May 19th. Weiss Ratings lowered Korea Electric Power from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, August 20th. Finally, Nomura cut Korea Electric Power from a "buy" rating to a "neutral" rating in a report on Thursday, August 13th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce".

Korea Electric Power Profile

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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