Korea Electric Power (NYSE:KEP) Stock Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Korea Electric Power shares rose 6.8% and moved above their 50-day moving average of $11.15, reaching an intraday high of $11.48.
• Analyst sentiment is cautious: the stock carries an average “Reduce” rating, with three Hold ratings and two Sell ratings; recent firms also downgraded their recommendations.
• The utility reported quarterly EPS of $0.14, missing the $1.03 consensus estimate, while revenue of $14.60 billion came in below analysts’ $19.67 billion forecast.

Korea Electric Power Corporation (NYSE:KEP - Get Free Report)'s stock price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $11.15 and traded as high as $11.48. Korea Electric Power shares last traded at $11.3150, with a volume of 1,951,821 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KEP. Nomura lowered shares of Korea Electric Power from a "buy" rating to a "neutral" rating in a report on Thursday, August 13th. Zacks Research downgraded shares of Korea Electric Power from a "hold" rating to a "strong sell" rating in a research note on Wednesday, September 9th. Finally, Weiss Ratings raised Korea Electric Power from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Three analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Korea Electric Power has an average rating of "Reduce".

Korea Electric Power Trading Up 6.8%

The company has a fifty day moving average of $11.15 and a two-hundred day moving average of $14.12. The company has a quick ratio of 0.29, a current ratio of 0.44 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $14.53 billion, a price-to-earnings ratio of 2.64, a P/E/G ratio of 2.00 and a beta of 1.02.

Korea Electric Power (NYSE:KEP - Get Free Report) last posted its quarterly earnings results on Tuesday, September 15th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.89). The firm had revenue of $14.60 billion for the quarter, compared to analysts' expectations of $19.67 billion. Korea Electric Power had a return on equity of 15.70% and a net margin of 8.15%. On average, research analysts expect that Korea Electric Power Corporation will post 2.59 EPS for the current year.

Hedge Funds Weigh In On Korea Electric Power

A number of large investors have recently modified their holdings of the business. Assetmark Inc. grew its position in Korea Electric Power by 119.3% during the first quarter. Assetmark Inc. now owns 644,041 shares of the utilities provider's stock worth $9,178,000 after buying an additional 350,337 shares during the period. Quantinno Capital Management LP lifted its position in shares of Korea Electric Power by 48.1% during the 1st quarter. Quantinno Capital Management LP now owns 480,867 shares of the utilities provider's stock valued at $6,852,000 after acquiring an additional 156,227 shares during the period. Corient Private Wealth LP lifted its position in shares of Korea Electric Power by 54.2% during the 2nd quarter. Corient Private Wealth LP now owns 265,049 shares of the utilities provider's stock valued at $3,207,000 after acquiring an additional 93,194 shares during the period. Bank of America Corp DE lifted its position in shares of Korea Electric Power by 617.5% during the 1st quarter. Bank of America Corp DE now owns 249,280 shares of the utilities provider's stock valued at $3,552,000 after acquiring an additional 214,535 shares during the period. Finally, Dorsey Wright & Associates boosted its stake in shares of Korea Electric Power by 40.0% during the 1st quarter. Dorsey Wright & Associates now owns 166,344 shares of the utilities provider's stock worth $2,370,000 after acquiring an additional 47,526 shares in the last quarter.

About Korea Electric Power

Korea Electric Power Corporation, or KEPCO, is South Korea's state-owned electric utility and the country's principal provider of electricity transmission, distribution, and retail supply services. The company delivers power to residential, commercial, and industrial customers across South Korea and operates the national transmission and distribution networks.

KEPCO coordinates electricity generation through affiliated companies, including Korea Hydro & Nuclear Power, Korea South-East Power, Korea Midland Power, Korea Western Power, Korea Southern Power, and Korea East-West Power.

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