Two Sigma Investments LP cut its stake in shares of Westar Energy Inc (NYSE:WR) by 8.8% in the 4th quarter, Holdings Channel reports. The firm owned 1,189,509 shares of the utilities provider’s stock after selling 115,074 shares during the quarter. Two Sigma Investments LP’s holdings in Westar Energy were worth $62,806,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Two Sigma Advisers LP boosted its position in Westar Energy by 4.8% during the fourth quarter. Two Sigma Advisers LP now owns 381,911 shares of the utilities provider’s stock valued at $20,165,000 after purchasing an additional 17,375 shares during the last quarter. Guggenheim Capital LLC boosted its position in Westar Energy by 11.4% during the fourth quarter. Guggenheim Capital LLC now owns 97,730 shares of the utilities provider’s stock valued at $5,162,000 after purchasing an additional 10,014 shares during the last quarter. Deutsche Bank AG boosted its position in Westar Energy by 57.1% during the fourth quarter. Deutsche Bank AG now owns 679,628 shares of the utilities provider’s stock valued at $35,880,000 after purchasing an additional 247,128 shares during the last quarter. Legg Mason Asset Management Japan Co. Ltd. acquired a new position in Westar Energy during the fourth quarter valued at approximately $159,000. Finally, Franklin Resources Inc. boosted its position in Westar Energy by 10.8% during the fourth quarter. Franklin Resources Inc. now owns 2,060,000 shares of the utilities provider’s stock valued at $108,768,000 after purchasing an additional 200,000 shares during the last quarter. 74.66% of the stock is owned by hedge funds and other institutional investors.
WR has been the subject of several recent research reports. Zacks Investment Research raised Westar Energy from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Sunday, January 21st. JPMorgan Chase & Co. reduced their price target on Westar Energy from $62.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. TheStreet cut Westar Energy from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. Finally, UBS Group began coverage on Westar Energy in a research report on Friday, February 2nd. They set a “neutral” rating and a $55.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Westar Energy currently has an average rating of “Buy” and an average target price of $55.50.
Westar Energy (NYSE:WR) last released its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.16). Westar Energy had a net margin of 12.60% and a return on equity of 8.40%. The business had revenue of $595.00 million during the quarter, compared to analyst estimates of $642.02 million. During the same period in the previous year, the business earned $0.38 earnings per share. The business’s quarterly revenue was down 1.8% on a year-over-year basis. analysts forecast that Westar Energy Inc will post 2.5 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.19%. Westar Energy’s payout ratio is 70.48%.
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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