Magellan Asset Management Ltd boosted its position in shares of Westar Energy, Inc. (NYSE:WR) by 7.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 94,986 shares of the utilities provider’s stock after purchasing an additional 6,931 shares during the quarter. Magellan Asset Management Ltd owned approximately 0.07% of Westar Energy worth $5,036,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blackstart Capital LP acquired a new position in shares of Westar Energy in the first quarter worth $10,057,000. First Trust Advisors LP raised its holdings in shares of Westar Energy by 69.2% in the second quarter. First Trust Advisors LP now owns 902,806 shares of the utilities provider’s stock worth $47,867,000 after acquiring an additional 369,234 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Westar Energy by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 221,473 shares of the utilities provider’s stock worth $11,742,000 after acquiring an additional 721 shares during the last quarter. Vanguard Group Inc. raised its holdings 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 acquiring an additional 618,478 shares during the last quarter. Finally, Sii Investments Inc. WI raised its holdings in shares of Westar Energy by 4.9% in the first quarter. Sii Investments Inc. WI now owns 4,495 shares of the utilities provider’s stock worth $242,000 after acquiring an additional 211 shares during the last quarter. Institutional investors own 73.65% of the company’s stock.
Westar Energy, Inc. (WR) traded up 0.79% during trading on Friday, hitting $51.07. The stock had a trading volume of 1,182,494 shares. The stock has a market cap of $7.26 billion, a PE ratio of 21.46 and a beta of 0.41. Westar Energy, Inc. has a 1-year low of $49.21 and a 1-year high of $57.50. The firm’s 50-day moving average price is $51.12 and its 200-day moving average price is $52.48.
Westar Energy (NYSE:WR) last released its quarterly earnings data 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). The company had revenue of $609.32 million for the quarter, compared to the consensus estimate of $633.96 million. Westar Energy had a return on equity of 8.87% and a net margin of 13.33%. During the same period in the prior year, the business earned $0.51 earnings per share. On average, equities research analysts predict that Westar Energy, Inc. will post $2.50 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Thursday, September 7th. Westar Energy’s dividend payout ratio is presently 67.23%.
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A number of research firms have recently weighed in on WR. Zacks Investment Research raised Westar Energy from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. BidaskClub raised Westar Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Wolfe Research began coverage on Westar Energy in a report on Wednesday, July 26th. They issued an “outperform” rating for the company. J P Morgan Chase & Co raised Westar Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $32.00 to $53.00 in a report on Tuesday, July 11th. Finally, Evercore ISI raised Westar Energy from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $49.00 to $53.00 in a report on Tuesday, July 11th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $55.33.
In other news, CFO Anthony D. Somma sold 2,500 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $51.07, for a total value of $127,675.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Greg A. Greenwood sold 10,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $51.00, for a total value of $510,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,500 shares of company stock valued at $1,611,715. Corporate insiders own 0.61% of the company’s stock.
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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