Korea Electric Power (NYSE:KEP) Shares Gap Down - Here's What Happened

Key Points

• Korea Electric Power Corporation's stock price gapped down from $14.09 to $13.67 prior to trading, last trading at $13.72 with a volume of 35,883 shares.
• Analysts at Wall Street Zen downgraded Korea Electric Power from a "strong-buy" to a "buy" rating on August 16th.
• The company reported $1.25 EPS in its last earnings, outperforming the consensus estimate by $0.35, despite revenue falling short of expectations at $16.67 billion.

Korea Electric Power Corporation (NYSE:KEP - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $14.09, but opened at $13.67. Korea Electric Power shares last traded at $13.72, with a volume of 35,883 shares traded.

Analysts Set New Price Targets

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

Korea Electric Power Stock Down 0.1%

The business has a 50 day simple moving average of $13.72 and a 200 day simple moving average of $11.00. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.47 and a quick ratio of 0.32. The stock has a market cap of $17.29 billion, a PE ratio of 4.61 and a beta of 0.94.

Korea Electric Power (NYSE:KEP - Get Free Report) last issued its earnings results on Tuesday, June 17th. The utilities provider reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.35. Korea Electric Power had a return on equity of 13.16% and a net margin of 5.53%.The firm had revenue of $16.67 billion for the quarter, compared to the consensus estimate of $17.04 billion.

Hedge Funds Weigh In On Korea Electric Power

Large investors have recently made changes to their positions in the business. Northern Trust Corp raised its holdings in Korea Electric Power by 642.2% in the 4th quarter. Northern Trust Corp now owns 383,704 shares of the utilities provider's stock valued at $2,640,000 after acquiring an additional 332,009 shares in the last quarter. Jane Street Group LLC bought a new stake in Korea Electric Power during the 2nd quarter worth approximately $3,448,000. Arrowstreet Capital Limited Partnership grew its position in Korea Electric Power by 22.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,201,548 shares of the utilities provider's stock worth $17,110,000 after acquiring an additional 216,828 shares during the last quarter. Bank of America Corp DE grew its position in Korea Electric Power by 133.7% during the 2nd quarter. Bank of America Corp DE now owns 371,494 shares of the utilities provider's stock worth $5,290,000 after acquiring an additional 212,515 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in Korea Electric Power during the 2nd quarter worth approximately $2,698,000.

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.