Korea Electric Power (NYSE:KEP) Cut to “Hold” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Korea Electric Power (NYSE:KEP) from a buy rating to a hold rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “Korea Electric Power Corporation generates and supplies electric power to its customers, both industrial and residential. The Korean government owns the majority of the company. “

Separately, ValuEngine raised shares of Korea Electric Power from a strong sell rating to a sell rating in a research report on Thursday, July 2nd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Korea Electric Power has a consensus rating of Hold and an average target price of $10.00.

NYSE KEP opened at $8.48 on Tuesday. The company has a 50 day simple moving average of $8.16 and a 200-day simple moving average of $8.70. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.85 and a quick ratio of 0.56. Korea Electric Power has a 52-week low of $6.28 and a 52-week high of $12.30.

Korea Electric Power (NYSE:KEP) last posted its quarterly earnings results on Thursday, June 4th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $12.07 billion during the quarter. Korea Electric Power had a negative net margin of 2.57% and a negative return on equity of 2.21%. Research analysts predict that Korea Electric Power will post 0.46 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in KEP. FMR LLC increased its holdings in Korea Electric Power by 47.0% in the first quarter. FMR LLC now owns 368,462 shares of the utilities provider’s stock worth $4,793,000 after buying an additional 117,783 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Korea Electric Power by 7.1% in the first quarter. Russell Investments Group Ltd. now owns 1,171,895 shares of the utilities provider’s stock worth $8,853,000 after buying an additional 77,457 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Korea Electric Power by 40.6% in the first quarter. Baillie Gifford & Co. now owns 136,800 shares of the utilities provider’s stock worth $1,032,000 after buying an additional 39,500 shares during the last quarter. State Street Corp increased its holdings in Korea Electric Power by 10.2% in the first quarter. State Street Corp now owns 401,875 shares of the utilities provider’s stock worth $3,034,000 after buying an additional 37,131 shares during the last quarter. Finally, Kopernik Global Investors LLC increased its holdings in Korea Electric Power by 1.7% in the first quarter. Kopernik Global Investors LLC now owns 2,146,533 shares of the utilities provider’s stock worth $16,206,000 after buying an additional 35,842 shares during the last quarter. Hedge funds and other institutional investors own 3.95% of the company’s stock.

About Korea Electric Power

Korea Electric Power Corporation, an integrated electric utility company, generates, transmits, and distributes electricity in Korea and internationally. The company operates through Transmission and Distribution, Electric Power Generation (Nuclear), Electric Power Generation (Non-nuclear), Plant Maintenance & Engineering Service, and Others segments.

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