Goldman Sachs Group Inc. Sells 24,551 Shares of Korea Electric Power Corporation $KEP

Key Points

• Goldman Sachs has reduced its holdings in Korea Electric Power Corporation (KEP) by 2.8%, selling 24,551 shares and owning approximately 0.07% of the company worth around $6.3 million.
• Several other hedge funds have recently increased their positions in KEP, with Atlas Capital Advisors boosting its holdings by 101.7% during the first quarter.
• Korea Electric Power reported earnings of $1.25 per share, surpassing analysts' estimates, but fell short on revenue expectations for the last quarter.

Goldman Sachs Group Inc. decreased its position in shares of Korea Electric Power Corporation (NYSE:KEP - Free Report) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 849,850 shares of the utilities provider's stock after selling 24,551 shares during the quarter. Goldman Sachs Group Inc. owned 0.07% of Korea Electric Power worth $6,297,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its holdings in Korea Electric Power by 18.5% in the first quarter. AQR Capital Management LLC now owns 29,211 shares of the utilities provider's stock worth $216,000 after purchasing an additional 4,556 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Korea Electric Power by 37.7% in the first quarter. Cubist Systematic Strategies LLC now owns 54,194 shares of the utilities provider's stock worth $402,000 after purchasing an additional 14,846 shares during the last quarter. Vident Advisory LLC boosted its holdings in Korea Electric Power by 3.8% in the first quarter. Vident Advisory LLC now owns 154,574 shares of the utilities provider's stock worth $1,145,000 after purchasing an additional 5,726 shares during the last quarter. Walleye Capital LLC purchased a new stake in Korea Electric Power in the first quarter worth approximately $568,000. Finally, Compound Planning Inc. boosted its holdings in Korea Electric Power by 14.7% in the first quarter. Compound Planning Inc. now owns 16,105 shares of the utilities provider's stock worth $119,000 after purchasing an additional 2,065 shares during the last quarter.

Korea Electric Power Price Performance

Shares of KEP traded down $0.40 during trading hours on Friday, reaching $12.81. 171,267 shares of the stock traded hands, compared to its average volume of 386,278. The company has a current ratio of 0.46, a quick ratio of 0.32 and a debt-to-equity ratio of 2.05. Korea Electric Power Corporation has a 52-week low of $6.68 and a 52-week high of $15.19. The company's 50-day moving average price is $13.70 and its two-hundred day moving average price is $11.08. The company has a market cap of $16.45 billion, a P/E ratio of 3.65 and a beta of 0.94.

Korea Electric Power (NYSE:KEP - Get Free Report) last released its earnings results on Monday, September 15th. The utilities provider reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.03. The company had revenue of $15.70 billion for the quarter, compared to analysts' expectations of $19.45 billion. Korea Electric Power had a net margin of 6.58% and a return on equity of 15.34%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Korea Electric Power from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th.

About Korea Electric Power

Korea Electric Power Corporation, an integrated electric utility company, engages in the generation, transmission, and distribution of electricity in South Korea and internationally. The company operates through Transmission and Distribution, Nuclear Power Generation, Thermal Power Generation, and Others segments.