Gateway Investment Advisers LLC Buys 79,970 Shares of Westar Energy Inc (NYSE:WR)

Gateway Investment Advisers LLC increased its stake in Westar Energy Inc (NYSE:WR) by 1,922.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,129 shares of the utilities provider’s stock after buying an additional 79,970 shares during the period. Gateway Investment Advisers LLC owned about 0.06% of Westar Energy worth $4,461,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Retirement Planning Group raised its position in Westar Energy by 0.5% in the first quarter. Retirement Planning Group now owns 4,514 shares of the utilities provider’s stock valued at $245,000 after buying an additional 23 shares during the period. Northwestern Mutual Wealth Management Co. raised its position 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 valued at $135,000 after buying an additional 46 shares during the period. Capstone Asset Management Co. raised its position in Westar Energy by 0.5% in the first quarter. Capstone Asset Management Co. now owns 12,092 shares of the utilities provider’s stock worth $656,000 after buying an additional 60 shares during the last quarter. Laurel Wealth Advisors Inc. raised its position in Westar Energy by 1.9% in the first quarter. Laurel Wealth Advisors Inc. now owns 5,275 shares of the utilities provider’s stock worth $286,000 after buying an additional 100 shares during the last quarter. Finally, Independent Advisor Alliance raised its position in Westar Energy by 2.8% in the first quarter. Independent Advisor Alliance now owns 4,557 shares of the utilities provider’s stock worth $249,000 after buying an additional 124 shares during the last quarter. 71.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Westar Energy Inc (NYSE:WR) traded down 0.20% on Friday, reaching $50.99. The company’s stock had a trading volume of 470,418 shares. Westar Energy Inc has a 52-week low of $49.21 and a 52-week high of $57.50. The stock has a market cap of $7.25 billion, a P/E ratio of 21.42 and a beta of 0.39. The firm’s 50 day moving average is $51.35 and its 200-day moving average is $52.99.

Westar Energy (NYSE:WR) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $633.96 million. Westar Energy had a net margin of 12.48% and a return on equity of 7.56%. During the same quarter last year, the firm posted $0.51 earnings per share. On average, equities research analysts forecast that Westar Energy Inc will post $2.51 EPS for the current year.

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A number of research analysts recently weighed in on the company. BidaskClub raised Westar Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Wolfe Research assumed coverage on Westar Energy in a report on Wednesday, July 26th. They set an “outperform” rating on the stock. Zacks Investment Research lowered Westar Energy from a “hold” rating to a “sell” rating in a report on Friday, July 14th. Evercore ISI raised Westar Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $49.00 to $53.00 in a report on Tuesday, July 11th. Finally, J P Morgan Chase & Co raised Westar Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $32.00 to $53.00 in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Westar Energy currently has a consensus rating of “Hold” and a consensus 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.

Institutional Ownership by Quarter for Westar Energy (NYSE:WR)

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