AHL Partners LLP purchased a new stake in shares of Westar Energy, Inc. (NYSE:WR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,908 shares of the utilities provider’s stock, valued at approximately $790,000.
A number of other institutional investors have also recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System lifted its stake in shares of Westar Energy by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 221,473 shares of the utilities provider’s stock valued at $11,742,000 after purchasing an additional 721 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Westar Energy by 69.2% in the 2nd quarter. First Trust Advisors LP now owns 902,806 shares of the utilities provider’s stock valued at $47,867,000 after purchasing an additional 369,234 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Westar Energy by 270.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,681,339 shares of the utilities provider’s stock valued at $89,148,000 after purchasing an additional 1,227,431 shares during the last quarter. Seven Eight Capital LP lifted its stake in shares of Westar Energy by 6.6% in the 2nd quarter. Seven Eight Capital LP now owns 45,300 shares of the utilities provider’s stock valued at $2,402,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Westar Energy by 14.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,996 shares of the utilities provider’s stock valued at $1,325,000 after purchasing an additional 3,200 shares during the last quarter. 73.65% of the stock is owned by institutional investors.
Several research firms have recently issued reports on WR. Zacks Investment Research raised Westar Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. J P Morgan Chase & Co set a $58.00 price objective on Westar Energy and gave the company a “buy” rating in a research note on Thursday, October 12th. Wells Fargo & Company raised Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a research note on Monday, October 2nd. BidaskClub raised Westar Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, Wolfe Research began coverage on Westar Energy in a research note on Wednesday, July 26th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $55.33.
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Shares of Westar Energy, Inc. (NYSE WR) opened at 52.56 on Thursday. The stock has a 50 day moving average price of $50.84 and a 200 day moving average price of $51.85. Westar Energy, Inc. has a 1-year low of $49.20 and a 1-year high of $57.50. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of 22.08 and a beta of 0.39.
Westar Energy (NYSE:WR) last issued its earnings results on Tuesday, August 8th. The utilities provider reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.06). The company had revenue of $609.32 million for the quarter, compared to analyst estimates of $633.96 million. Westar Energy had a return on equity of 8.87% and a net margin of 13.33%. During the same quarter in the prior year, the firm earned $0.51 earnings per share. On average, equities analysts anticipate that Westar Energy, Inc. will post $2.50 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Thursday, September 7th. Westar Energy’s dividend payout ratio is currently 67.23%.
In related news, SVP Greg A. Greenwood sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $51.00, for a total value of $510,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Anthony D. Somma sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $51.07, for a total value of $127,675.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,500 shares of company stock worth $1,611,715. Insiders own 0.70% of the company’s stock.
Westar Energy 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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