Highstreet Asset Management Inc. purchased a new stake in shares of Westar Energy, Inc. (NYSE:WR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 15,668 shares of the utilities provider’s stock, valued at approximately $831,000.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Westar Energy by 4,412.0% in the first quarter. BlackRock Inc. now owns 13,907,609 shares of the utilities provider’s stock worth $754,767,000 after buying an additional 13,599,373 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Westar Energy by 98.4% in the first quarter. Renaissance Technologies LLC now owns 2,295,300 shares of the utilities provider’s stock worth $124,566,000 after buying an additional 1,138,400 shares during the period. American Century Companies Inc. acquired a new stake in shares of Westar Energy during the first quarter worth $47,333,000. Vanguard Group Inc. boosted its stake in shares of Westar Energy by 5.2% in the first quarter. Vanguard Group Inc. now owns 12,424,214 shares of the utilities provider’s stock worth $674,263,000 after buying an additional 618,478 shares during the period. Finally, Citadel Advisors LLC boosted its stake in shares of Westar Energy by 1,920.6% in the first quarter. Citadel Advisors LLC now owns 625,785 shares of the utilities provider’s stock worth $33,961,000 after buying an additional 594,815 shares during the period. Institutional investors own 73.47% of the company’s stock.
Shares of Westar Energy, Inc. (WR) opened at 50.90 on Friday. Westar Energy, Inc. has a 52 week low of $49.21 and a 52 week high of $57.50. The stock has a 50 day moving average of $51.05 and a 200-day moving average of $52.86. The stock has a market capitalization of $7.23 billion, a PE ratio of 21.39 and a beta of 0.39.
Westar Energy (NYSE:WR) last posted 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 net margin of 13.33% and a return on equity of 8.87%. The firm had revenue of $609.32 million during the quarter, compared to analyst estimates of $633.96 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. On average, equities research analysts expect that Westar Energy, Inc. will post $2.50 EPS for the current year.
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A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Westar Energy from a “sell” rating to a “hold” rating in a report on Saturday, April 22nd. J P Morgan Chase & Co upgraded shares of Westar Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $32.00 to $53.00 in a research report on Tuesday, July 11th. Evercore ISI upgraded shares of Westar Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $49.00 to $53.00 in a research report on Tuesday, July 11th. BidaskClub downgraded shares of Westar Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Wolfe Research began coverage on shares of Westar Energy in a research report on Wednesday, July 26th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $55.33.
In other news, VP Larry D. Irick sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $51.17, for a total transaction of $511,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Bruce A. Akin sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $51.50, for a total transaction of $257,500.00. The disclosure for this sale can be found here. Insiders have sold 29,000 shares of company stock valued at $1,484,040 over the last 90 days. 0.61% of the stock is currently owned by company insiders.
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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