Gofen & Glossberg LLC IL maintained its stake in shares of Westar Energy, Inc. (NYSE:WR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,520 shares of the utilities provider’s stock at the close of the second quarter. Gofen & Glossberg LLC IL’s holdings in Westar Energy were worth $399,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in WR. D.A. Davidson & CO. raised its holdings in shares of Westar Energy by 6.6% during the second quarter. D.A. Davidson & CO. now owns 3,240 shares of the utilities provider’s stock valued at $171,000 after purchasing an additional 202 shares during the period. V Wealth Management LLC acquired a new position in shares of Westar Energy during the second quarter valued at about $187,000. Retirement Planning Group raised its holdings in shares of Westar Energy by 0.6% during the second quarter. Retirement Planning Group now owns 4,540 shares of the utilities provider’s stock valued at $241,000 after purchasing an additional 26 shares during the period. Sii Investments Inc. WI raised its holdings in shares of Westar Energy by 4.9% during the first quarter. Sii Investments Inc. WI now owns 4,495 shares of the utilities provider’s stock valued at $242,000 after purchasing an additional 211 shares during the period. Finally, Harbour Capital Advisors LLC raised its holdings in shares of Westar Energy by 5,201.9% during the second quarter. Harbour Capital Advisors LLC now owns 14,209 shares of the utilities provider’s stock valued at $268,000 after purchasing an additional 13,941 shares during the period. Hedge funds and other institutional investors own 73.65% of the company’s stock.
In other Westar Energy news, CFO Anthony D. Somma sold 4,000 shares of Westar Energy stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $51.21, for a total value of $204,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bruce A. Akin sold 5,000 shares of Westar Energy stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $51.50, for a total transaction of $257,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,500 shares of company stock valued at $1,611,715. 0.70% of the stock is currently owned by corporate insiders.
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Several brokerages have recently weighed in on WR. Zacks Investment Research lowered shares of Westar Energy from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Wells Fargo & Company upgraded shares of Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 price objective on the stock in a report on Monday, October 2nd. Wolfe Research started coverage on shares of Westar Energy in a report on Wednesday, July 26th. They set an “outperform” rating on the stock. BidaskClub raised shares of Westar Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, J P Morgan Chase & Co raised shares of Westar Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $32.00 to $53.00 in a research report on Tuesday, July 11th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $55.33.
Westar Energy, Inc. (NYSE WR) traded up 0.33% during midday trading on Tuesday, hitting $52.30. 51,523 shares of the stock traded hands. The stock’s 50-day moving average price is $50.75 and its 200-day moving average price is $51.88. The stock has a market capitalization of $7.43 billion, a P/E ratio of 21.97 and a beta of 0.39. Westar Energy, Inc. has a 52 week low of $49.20 and a 52 week high of $57.50.
Westar Energy (NYSE:WR) last issued its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). Westar Energy had a net margin of 13.33% and a return on equity of 8.87%. The business had revenue of $609.32 million for the quarter, compared to analysts’ expectations of $633.96 million. During the same period last year, the business earned $0.51 earnings per share. Equities research analysts expect that Westar Energy, Inc. will post $2.50 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.60 dividend on an annualized basis and a yield of 3.07%. Westar Energy’s dividend payout ratio (DPR) is currently 67.23%.
Westar Energy Company Profile
Westar Energy, Inc is an electric utility. The Company provides electric generation, transmission and distribution services. The Company provides these services in central and northeastern Kansas, including the cities of Topeka, Lawrence, Manhattan, Salina and Hutchinson. Its subsidiary, Kansas Gas and Electric Company (KGE), provides these services in south-central and southeastern Kansas, including the city of Wichita.
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