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

Korea Electric Power (NYSE:KEP) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

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

Korea Electric Power Stock Performance

Shares of KEP opened at $11.88 on Wednesday. Korea Electric Power has a 1 year low of $11.15 and a 1 year high of $23.41. The company’s 50 day simple moving average is $11.90 and its 200 day simple moving average is $13.74. The company has a market capitalization of $15.26 billion, a price-to-earnings ratio of 2.49, a PEG ratio of 2.33 and a beta of 0.95. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.29 and a current ratio of 0.43.

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

Institutional Trading of Korea Electric Power

Several institutional investors have recently made changes to their positions in the stock. Global Trust Asset Management LLC purchased a new position in shares of Korea Electric Power in the 1st quarter worth $28,000. Rockefeller Capital Management L.P. grew its position 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 valued at $37,000 after acquiring an additional 724 shares during the period. Smartleaf Asset Management LLC grew its position in Korea Electric Power by 21.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,625 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 466 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Korea Electric Power during the fourth quarter worth about $45,000. Finally, Barclays PLC acquired a new stake in Korea Electric Power during the fourth quarter worth about $45,000.

Korea Electric Power Company Profile

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.