Edmonds Duncan Registered Investment Advisors LLC reduced its holdings in Westar Energy, Inc. (NYSE:WR) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,811 shares of the utilities provider’s stock after selling 180 shares during the quarter. Edmonds Duncan Registered Investment Advisors LLC’s holdings in Westar Energy were worth $838,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings in Westar Energy by 1.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,486 shares of the utilities provider’s stock worth $135,000 after purchasing an additional 46 shares in the last quarter. V Wealth Management LLC bought a new stake in Westar Energy in the second quarter worth approximately $187,000. AE Wealth Management LLC bought a new stake in shares of Westar Energy during the first quarter valued at approximately $201,000. MAI Capital Management bought a new stake in shares of Westar Energy during the first quarter valued at approximately $218,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Westar Energy during the first quarter valued at approximately $233,000. Institutional investors and hedge funds own 73.65% of the company’s stock.
WR has been the subject of several recent research reports. Evercore ISI upgraded Westar Energy from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $49.00 to $53.00 in a report on Tuesday, July 11th. Zacks Investment Research upgraded Westar Energy from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Wednesday, June 28th. BidaskClub downgraded Westar Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. J P Morgan Chase & Co upgraded Westar Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $32.00 to $53.00 in a report on Tuesday, July 11th. Finally, Wolfe Research initiated coverage on Westar Energy in a report on Wednesday, July 26th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Westar Energy presently has an average rating of “Buy” and a consensus price target of $55.33.
Westar Energy, Inc. (WR) traded down 0.35% during midday trading on Wednesday, hitting $50.80. The stock had a trading volume of 149,742 shares. Westar Energy, Inc. has a 12 month low of $49.21 and a 12 month high of $57.50. The company has a market cap of $7.22 billion, a P/E ratio of 21.34 and a beta of 0.41. The firm’s 50-day moving average price is $51.07 and its 200 day moving average price is $52.55.
Westar Energy (NYSE:WR) last announced its earnings results on Tuesday, August 8th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.06). Westar Energy had a return on equity of 8.87% and a net margin of 13.33%. The firm had revenue of $609.32 million during the quarter, compared to the consensus estimate of $633.96 million. During the same period in the prior year, the company posted $0.51 EPS. On average, analysts expect that Westar Energy, Inc. will post $2.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, September 7th. Westar Energy’s dividend payout ratio is currently 67.23%.
In other news, CFO Anthony D. Somma sold 4,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $51.21, for a total value of $204,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Greg A. Greenwood sold 10,000 shares of the 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 disclosure for this sale can be found here. Insiders sold a total of 31,500 shares of company stock valued at $1,611,715 in the last three months. Corporate insiders own 0.61% of the company’s stock.
About Westar Energy
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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