Korea Electric Power (NYSE:KEP) Rating Lowered to Sell at Zacks Investment Research

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Korea Electric Power (NYSE:KEP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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. “

Several other analysts have also weighed in on the stock. Morgan Stanley set a $61.00 price objective on shares of Walgreens Boots Alliance and gave the company a “hold” rating in a research note on Tuesday, May 14th. Daiwa Capital Markets lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Finally, Nomura lowered shares of Korea Electric Power from a “buy” rating to a “neutral” rating in a research note on Thursday, June 6th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.00.

Shares of NYSE:KEP traded down $0.02 during mid-day trading on Tuesday, hitting $10.85. The company had a trading volume of 230,327 shares, compared to its average volume of 340,264. The company has a fifty day moving average of $10.94. The firm has a market capitalization of $13.93 billion, a P/E ratio of -11.65, a PEG ratio of 17.11 and a beta of 0.25. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.89 and a quick ratio of 0.59. Korea Electric Power has a one year low of $10.36 and a one year high of $15.78.

Several large investors have recently added to or reduced their stakes in KEP. FMR LLC bought a new stake in shares of Korea Electric Power in the 4th quarter valued at $3,698,000. JPMorgan Chase & Co. increased its stake in shares of Korea Electric Power by 26.4% in the 1st quarter. JPMorgan Chase & Co. now owns 985,524 shares of the utilities provider’s stock valued at $12,821,000 after acquiring an additional 205,756 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Korea Electric Power in the 1st quarter valued at $2,185,000. Parametric Portfolio Associates LLC increased its stake in shares of Korea Electric Power by 10.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 1,279,399 shares of the utilities provider’s stock valued at $16,645,000 after acquiring an additional 120,052 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Korea Electric Power in the 4th quarter valued at $1,278,000. Institutional investors own 3.95% of the company’s stock.

Korea Electric Power Company Profile

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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