Schroder Investment Management Group decreased its holdings in Westar Energy Inc (NYSE:WR) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 809,476 shares of the utilities provider’s stock after selling 11,568 shares during the period. Schroder Investment Management Group owned about 0.57% of Westar Energy worth $40,360,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Westar Energy by 19.3% in the second quarter. BlackRock Inc. now owns 16,587,206 shares of the utilities provider’s stock valued at $879,454,000 after buying an additional 2,679,597 shares during the period. Vanguard Group Inc. raised its stake in Westar Energy by 1.5% in the second quarter. Vanguard Group Inc. now owns 12,610,777 shares of the utilities provider’s stock valued at $668,624,000 after buying an additional 186,563 shares during the period. American Century Companies Inc. raised its stake in Westar Energy by 365.2% in the second quarter. American Century Companies Inc. now owns 4,057,368 shares of the utilities provider’s stock valued at $215,122,000 after buying an additional 3,185,194 shares during the period. CNH Partners LLC raised its stake in Westar Energy by 8.2% in the second quarter. CNH Partners LLC now owns 3,428,377 shares of the utilities provider’s stock valued at $181,773,000 after buying an additional 260,631 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Westar Energy by 0.8% in the second quarter. Renaissance Technologies LLC now owns 2,314,200 shares of the utilities provider’s stock valued at $122,699,000 after buying an additional 18,900 shares during the period. Hedge funds and other institutional investors own 73.65% of the company’s stock.
WR has been the topic of a number of recent research reports. Bank of America initiated coverage on Westar Energy in a research note on Tuesday, October 24th. They set a “buy” rating and a $57.00 target price on the stock. J P Morgan Chase & Co set a $58.00 target price on Westar Energy and gave the stock a “buy” rating in a research note on Thursday, October 12th. Wells Fargo & Company upgraded Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 target price on the stock in a research note on Monday, October 2nd. Zacks Investment Research upgraded Westar Energy from a “sell” rating to a “hold” rating in a research note on Saturday, September 23rd. Finally, BidaskClub upgraded Westar Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $55.75.
In other Westar Energy news, VP Larry D. Irick sold 5,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was 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 the SEC website. Also, CFO Anthony D. Somma sold 3,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $54.53, for a total value of $163,590.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,100 shares of company stock worth $2,991,312. Corporate insiders own 0.70% of the company’s stock.
Westar Energy Inc (WR) traded down $0.33 during trading on Friday, reaching $56.88. The company’s stock had a trading volume of 380,948 shares, compared to its average volume of 662,090. Westar Energy Inc has a 12-month low of $49.20 and a 12-month high of $57.50. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.65 and a current ratio of 1.07. The company has a market cap of $8,129.21, a price-to-earnings ratio of 23.74, a PEG ratio of 6.89 and a beta of 0.42.
Westar Energy (NYSE:WR) last posted its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $1.11 EPS for the quarter, missing the Zacks’ 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 company had revenue of $794.33 million for the quarter, compared to the consensus estimate of $773.96 million. During the same quarter last year, the business earned $1.09 EPS. Westar Energy’s revenue was up 3.9% on a year-over-year basis. equities analysts expect that Westar Energy Inc will post 2.45 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, December 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.81%. Westar Energy’s dividend payout ratio (DPR) is presently 66.39%.
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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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