Korea Electric Power (NYSE:KEP) Downgraded by Zacks Research to Strong Sell

Zacks Research cut shares of Korea Electric Power (NYSE:KEP) from a hold rating to a strong sell rating in a report released on Wednesday,Zacks reports.

KEP has been the subject of a number of other reports. Nomura cut shares of Korea Electric Power from a “buy” rating to a “neutral” rating in a research report on Thursday, August 13th. Morgan Stanley cut shares of Korea Electric Power from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, May 19th. Finally, Weiss Ratings cut shares of Korea Electric Power from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

Korea Electric Power Stock Down 2.7%

Korea Electric Power stock opened at $11.88 on Wednesday. The stock has a market capitalization of $15.26 billion, a PE ratio of 2.49, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. Korea Electric Power has a 12 month low of $11.15 and a 12 month high of $23.41. The business has a 50 day simple moving average of $11.90 and a 200-day simple moving average of $13.74. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.43 and a quick ratio of 0.29.

Korea Electric Power (NYSE:KEP) last announced its earnings results on Wednesday, August 12th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.18). Korea Electric Power had a net margin of 8.95% and a return on equity of 18.25%. The business had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $15.31 billion. On average, analysts anticipate that Korea Electric Power will post 2.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KEP. AQR Capital Management LLC boosted its stake in Korea Electric Power by 18.5% during the 1st 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. Creative Planning acquired a new stake in shares of Korea Electric Power in the second quarter valued at about $179,000. Marshall Wace LLP lifted its stake in shares of Korea Electric Power by 3.4% in the second quarter. Marshall Wace LLP now owns 191,445 shares of the utilities provider’s stock worth $2,726,000 after buying an additional 6,336 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Korea Electric Power by 122.5% in the second quarter. Sei Investments Co. now owns 142,109 shares of the utilities provider’s stock worth $2,024,000 after buying an additional 78,238 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in Korea Electric Power during the second quarter worth about $360,000.

About Korea Electric Power

Korea Electric Power Corporation (KEPCO) is South Korea’s state-owned, integrated electric utility. The company is responsible for the transmission and distribution of electricity throughout South Korea and supplies power to residential, commercial and industrial customers.

KEPCO’s business includes electricity generation through affiliated companies, power transmission and distribution, and related energy services. Its generation-related subsidiaries include Korea Hydro & Nuclear Power, which operates nuclear and hydroelectric facilities, as well as several companies focused on thermal and renewable power generation.

Founded in 1961, KEPCO has also pursued international projects involving power generation, transmission, renewable energy and other energy infrastructure.