Advisor Group Inc. lessened its stake in shares of Westar Energy, Inc. (NYSE:WR) by 12.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,505 shares of the utilities provider’s stock after selling 950 shares during the quarter. Advisor Group Inc.’s holdings in Westar Energy were worth $346,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its holdings in Westar Energy by 0.3% during 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 in the last quarter. First Trust Advisors LP increased its holdings in Westar Energy by 69.2% during 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 in the last quarter. Vanguard Group Inc. increased its holdings in Westar Energy by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 12,424,214 shares of the utilities provider’s stock valued at $674,263,000 after purchasing an additional 618,478 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Westar Energy by 270.4% during 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 in the last quarter. Finally, Sii Investments Inc. WI increased its holdings in Westar Energy by 4.9% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 73.65% of the company’s stock.
A number of equities research analysts recently commented on WR shares. Zacks Investment Research raised Westar Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. BidaskClub raised Westar Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Evercore ISI raised Westar Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $49.00 to $53.00 in a research note on Tuesday, July 11th. 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. Finally, Wolfe Research started coverage on Westar Energy in a research note on Wednesday, July 26th. They set 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 stock. The stock presently has a consensus rating of “Buy” and an average price target of $53.67.
Westar Energy, Inc. (NYSE WR) opened at 52.09 on Thursday. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 21.89 and a beta of 0.39. The firm’s 50-day moving average price is $50.74 and its 200 day moving average price is $51.92. Westar Energy, Inc. has a 12-month low of $49.20 and a 12-month high of $57.50.
Westar Energy (NYSE:WR) last issued its earnings results on Tuesday, August 8th. The utilities provider reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.06). The firm had revenue of $609.32 million during the quarter, compared to analyst estimates of $633.96 million. Westar Energy had a net margin of 13.33% and a return on equity of 8.87%. During the same quarter in the prior year, the business earned $0.51 earnings per share. On average, analysts expect that Westar Energy, Inc. will post $2.50 earnings per share for the current 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 $0.40 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.60 annualized dividend and a yield of 3.07%. Westar Energy’s payout ratio is 67.23%.
In related news, SVP Greg A. Greenwood sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $51.00, for a total value of $510,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Anthony D. Somma sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $51.21, for a total transaction of $204,840.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,500 shares of company stock worth $1,611,715. 0.70% of the stock is owned by insiders.
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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