Zacks Research Upgrades Korea Electric Power (NYSE:KEP) to "Hold"

Key Points

• Zacks Research upgraded Korea Electric Power from “strong sell” to “hold,” while other analysts have issued mostly neutral-to-negative ratings; the consensus rating is “Reduce.”
• KEP shares opened at $11.89, near the lower end of their 12-month range of $11.25 to $23.41, with a market capitalization of approximately $15.27 billion.
• The company reported quarterly EPS of $0.13, missing the $0.53 consensus estimate, while revenue of $14.15 billion also fell short of analyst expectations of $14.88 billion.

Korea Electric Power (NYSE:KEP - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently commented on KEP. Weiss Ratings cut shares of Korea Electric Power from a "buy (b)" rating to a "hold (c+)" rating in a research report on Wednesday, May 27th. Morgan Stanley cut Korea Electric Power from an "equal weight" rating to an "underweight" rating in a report on Tuesday, May 19th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce".

Korea Electric Power Price Performance

NYSE KEP opened at $11.89 on Tuesday. 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 has a 12-month low of $11.25 and a 12-month high of $23.41. The company has a market capitalization of $15.27 billion, a PE ratio of 2.49, a price-to-earnings-growth ratio of 2.12 and a beta of 0.95. The firm's 50 day moving average is $12.22 and its 200-day moving average is $15.15.

Korea Electric Power (NYSE:KEP - Get Free Report) last announced its earnings results on Wednesday, August 12th. The utilities provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.40). The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.88 billion. Korea Electric Power had a return on equity of 18.25% and a net margin of 8.95%. Equities research analysts anticipate that Korea Electric Power will post 2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Korea Electric Power

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

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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