GWM Advisors LLC raised its stake in Westar Energy, Inc. (NYSE:WR) by 13.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,430 shares of the utilities provider’s stock after purchasing an additional 2,414 shares during the quarter. GWM Advisors LLC’s holdings in Westar Energy were worth $1,030,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Westar Energy by 19.3% in the second quarter. BlackRock Inc. now owns 16,587,206 shares of the utilities provider’s stock worth $879,454,000 after purchasing an additional 2,679,597 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Westar Energy by 1.5% in the second quarter. Vanguard Group Inc. now owns 12,610,777 shares of the utilities provider’s stock worth $668,624,000 after purchasing an additional 186,563 shares during the last quarter. State Street Corp raised its stake in shares of Westar Energy by 1.7% in the first quarter. State Street Corp now owns 4,690,842 shares of the utilities provider’s stock worth $254,580,000 after purchasing an additional 79,734 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Westar Energy by 365.2% in the second quarter. American Century Companies Inc. now owns 4,057,368 shares of the utilities provider’s stock worth $215,122,000 after purchasing an additional 3,185,194 shares during the last quarter. Finally, CNH Partners LLC raised its stake in shares of Westar Energy by 8.2% in the second quarter. CNH Partners LLC now owns 3,428,377 shares of the utilities provider’s stock worth $181,773,000 after purchasing an additional 260,631 shares during the last quarter. 73.65% of the stock is owned by hedge funds and other institutional investors.
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In related news, VP Larry D. Irick sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $51.17, for a total value of $511,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Anthony D. Somma sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was 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. Over the last 90 days, insiders sold 31,500 shares of company stock valued at $1,611,715. 0.70% of the stock is owned by company insiders.
Westar Energy (NYSE:WR) last announced its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $633.96 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were issued a $0.40 dividend. 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 3.06%. Westar Energy’s payout ratio is currently 67.23%.
Several brokerages have recently commented on WR. Zacks Investment Research downgraded Westar Energy from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. J P Morgan Chase & Co set a $58.00 price objective on Westar Energy and gave the stock a “buy” rating in a research note on Thursday. 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 increased their price objective for the stock from $49.00 to $53.00 in a research note on Tuesday, July 11th. 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Westar Energy presently has an average rating of “Buy” and an average price target of $55.33.
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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