Virtu KCG Holdings LLC bought a new stake in Westar Energy, Inc. (NYSE:WR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,594 shares of the utilities provider’s stock, valued at approximately $456,000.
Several other institutional investors also recently modified their holdings of the company. Retirement Planning Group boosted its holdings in shares of Westar Energy by 0.6% in the 2nd quarter. Retirement Planning Group now owns 4,540 shares of the utilities provider’s stock valued at $241,000 after buying an additional 26 shares in the last quarter. Private Advisor Group LLC boosted its stake in Westar Energy by 1.1% during the 2nd quarter. Private Advisor Group LLC now owns 7,236 shares of the utilities provider’s stock worth $367,000 after purchasing an additional 79 shares during the period. Laurel Wealth Advisors Inc. boosted its stake in Westar Energy by 1.9% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 5,275 shares of the utilities provider’s stock worth $286,000 after purchasing an additional 100 shares during the period. Utah Retirement Systems boosted its stake in Westar Energy by 0.4% during the 2nd quarter. Utah Retirement Systems now owns 25,891 shares of the utilities provider’s stock worth $1,373,000 after purchasing an additional 100 shares during the period. Finally, World Asset Management Inc boosted its stake in Westar Energy by 1.3% during the 2nd quarter. World Asset Management Inc now owns 9,619 shares of the utilities provider’s stock worth $510,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds own 73.65% of the company’s stock.
A number of analysts recently weighed in on WR shares. Evercore ISI upgraded shares of Westar Energy from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $49.00 to $53.00 in a research note on Tuesday, July 11th. Zacks Investment Research upgraded shares of Westar Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. BidaskClub cut shares of Westar Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. J P Morgan Chase & Co set a $58.00 price target on shares of Westar Energy and gave the stock a “buy” rating in a research note on Thursday. Finally, Wolfe Research started coverage on shares of Westar Energy in a research note on Wednesday, July 26th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Westar Energy presently has a consensus rating of “Buy” and a consensus target price of $55.33.
In other news, CFO Anthony D. Somma sold 2,500 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $51.07, for a total transaction of $127,675.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Greg A. Greenwood sold 10,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $51.00, for a total transaction of $510,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,500 shares of company stock valued at $1,611,715. 0.70% of the stock is owned by insiders.
Shares of Westar Energy, Inc. (NYSE WR) opened at 52.28 on Friday. The firm has a market cap of $7.43 billion, a PE ratio of 21.97 and a beta of 0.39. The company’s 50-day moving average is $50.76 and its 200-day moving average is $51.93. Westar Energy, Inc. has a 52 week low of $49.20 and a 52 week high of $57.50.
Westar Energy (NYSE:WR) last released its earnings results on Tuesday, August 8th. The utilities provider reported $0.50 earnings per share 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 business had revenue of $609.32 million for the quarter, compared to the consensus estimate of $633.96 million. During the same quarter in the previous year, the firm earned $0.51 EPS. Analysts forecast that Westar Energy, Inc. will post $2.50 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.60 annualized dividend and a yield of 3.06%. Westar Energy’s payout ratio is 67.23%.
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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