Ameriprise Financial Inc. raised its stake in Westar Energy Inc (NYSE:WR) by 31.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,215,217 shares of the utilities provider’s stock after acquiring an additional 533,878 shares during the quarter. Ameriprise Financial Inc. owned about 1.56% of Westar Energy worth $109,878,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. D.A. Davidson & CO. grew its position in shares of Westar Energy by 6.6% during the 2nd quarter. D.A. Davidson & CO. now owns 3,240 shares of the utilities provider’s stock worth $171,000 after buying an additional 202 shares during the period. Retirement Planning Group grew its position in shares of Westar Energy by 0.6% during the 2nd quarter. Retirement Planning Group now owns 4,540 shares of the utilities provider’s stock worth $241,000 after buying an additional 26 shares during the period. Harbour Capital Advisors LLC grew its position in shares of Westar Energy by 5,201.9% during the 2nd quarter. Harbour Capital Advisors LLC now owns 14,209 shares of the utilities provider’s stock worth $268,000 after buying an additional 13,941 shares during the period. Dynamic Technology Lab Private Ltd grew its position in shares of Westar Energy by 18.3% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 5,089 shares of the utilities provider’s stock worth $269,000 after buying an additional 789 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of Westar Energy by 2,172.7% during the 3rd quarter. Bessemer Group Inc. now owns 5,500 shares of the utilities provider’s stock worth $273,000 after buying an additional 5,258 shares during the period. Hedge funds and other institutional investors own 73.22% of the company’s stock.
In related news, VP Larry D. Irick sold 5,000 shares of Westar Energy stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $54.38, for a total transaction of $271,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark A. Ruelle sold 37,000 shares of Westar Energy stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $54.35, for a total transaction of $2,010,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 55,100 shares of company stock worth $2,991,312 in the last three months. 0.70% of the stock is owned by insiders.
Several brokerages have recently commented on WR. Bank of America Corporation began coverage on shares of Westar Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $57.00 price target for the company. Zacks Investment Research upgraded shares of Westar Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. 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 report on Thursday, October 12th. Wells Fargo & Company upgraded shares of Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 price target for the company in a research report on Monday, October 2nd. Finally, BidaskClub upgraded shares of Westar Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $55.75.
Westar Energy Inc (WR) traded up $0.12 during trading on Friday, reaching $56.16. 186,977 shares of the company traded hands, compared to its average volume of 709,401. Westar Energy Inc has a twelve month low of $49.20 and a twelve month high of $57.50. The company has a market cap of $7,980.00, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 6.76 and a beta of 0.41. The company has a quick ratio of 0.65, a current ratio of 1.07 and a debt-to-equity ratio of 0.97.
Westar Energy (NYSE:WR) last released its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.09). Westar Energy had a return on equity of 8.94% and a net margin of 13.32%. The firm had revenue of $794.33 million for the quarter, compared to the consensus estimate of $773.96 million. During the same period in the previous year, the business earned $1.09 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. research analysts anticipate that Westar Energy Inc will post 2.45 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.85%. Westar Energy’s payout ratio is 66.39%.
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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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