Pictet Asset Management Ltd. held its position in shares of Westar Energy, Inc. (NYSE:WR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,100 shares of the utilities provider’s stock at the end of the second quarter. Pictet Asset Management Ltd.’s holdings in Westar Energy were worth $2,653,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Trust Co. of Vermont raised its position in shares of Westar Energy by 22.5% in the first quarter. Trust Co. of Vermont now owns 2,450 shares of the utilities provider’s stock valued at $133,000 after buying an additional 450 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of 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. Advisory Services Network LLC purchased a new position in shares of Westar Energy during the first quarter valued at approximately $139,000. Advantage Investment Management LLC purchased a new position in shares of Westar Energy during the first quarter valued at approximately $142,000. Finally, V Wealth Management LLC purchased a new position in shares of Westar Energy during the second quarter valued at approximately $187,000. Institutional investors and hedge funds own 73.47% of the company’s stock.
Westar Energy, Inc. (WR) opened at 51.02 on Monday. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 21.44 and a beta of 0.39. Westar Energy, Inc. has a 12 month low of $49.21 and a 12 month high of $57.50. The stock’s 50 day moving average price is $50.99 and its 200 day moving average price is $52.83.
Westar Energy (NYSE:WR) last released its earnings results on Tuesday, August 8th. The utilities provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by $0.06. The business had revenue of $609.32 million for the quarter, compared to the consensus estimate of $633.96 million. Westar Energy had a net margin of 13.33% and a return on equity of 8.87%. During the same period in the prior year, the company posted $0.51 EPS. Equities research analysts anticipate that Westar Energy, Inc. will post $2.50 earnings per share for the current fiscal year.
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Several equities analysts have recently commented on WR shares. Zacks Investment Research upgraded Westar Energy from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Wednesday, June 28th. BidaskClub upgraded Westar Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Wolfe Research started coverage on Westar Energy in a research report on Wednesday, July 26th. They set an “outperform” rating on the stock. Evercore ISI upgraded 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. Finally, J P Morgan Chase & Co upgraded 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $55.33.
In other news, SVP Bruce A. Akin sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $51.50, for a total transaction of $257,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Larry D. Irick sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $51.17, for a total value of $511,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,000 shares of company stock worth $1,484,040. Insiders own 0.61% of the company’s stock.
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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