Insider Selling: Westar Energy, Inc. (WR) VP Sells $108,120.00 in Stock

Westar Energy, Inc. (NYSE:WR) VP Kevin L. Kongs sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $54.06, for a total transaction of $108,120.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of Westar Energy, Inc. (NYSE WR) opened at $53.77 on Friday. Westar Energy, Inc. has a 52 week low of $49.20 and a 52 week 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 firm has a market cap of $7,640.39, a PE ratio of 22.31, a price-to-earnings-growth ratio of 6.49 and a beta of 0.41.

Westar Energy (NYSE:WR) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $1.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.09). Westar Energy had a net margin of 13.32% and a return on equity of 8.94%. The company had revenue of $794.33 million for the quarter, compared to the consensus estimate of $773.96 million. During the same period last year, the company earned $1.09 earnings per share. Westar Energy’s revenue for the quarter was up 3.9% compared to the same quarter last year. sell-side analysts predict that Westar Energy, Inc. will post 2.44 EPS for the current fiscal year.

WARNING: This article was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2017/11/12/insider-selling-westar-energy-inc-wr-vp-sells-108120-00-in-stock.html.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Westar Energy by 19.3% during the second quarter. BlackRock Inc. now owns 16,587,206 shares of the utilities provider’s stock valued at $879,454,000 after purchasing an additional 2,679,597 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Westar Energy by 1.5% during the second quarter. Vanguard Group Inc. now owns 12,610,777 shares of the utilities provider’s stock valued at $668,624,000 after purchasing an additional 186,563 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Westar Energy by 365.2% during 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 purchasing an additional 3,185,194 shares during the last quarter. CNH Partners LLC grew its stake in shares of Westar Energy by 8.2% during the second quarter. CNH Partners LLC now owns 3,428,377 shares of the utilities provider’s stock valued at $181,773,000 after purchasing an additional 260,631 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Westar Energy by 0.8% during the second quarter. Renaissance Technologies LLC now owns 2,314,200 shares of the utilities provider’s stock valued at $122,699,000 after purchasing an additional 18,900 shares during the last quarter. 73.68% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of Westar Energy in a research note on Wednesday, July 26th. They set an “outperform” rating on the stock. BidaskClub cut shares of Westar Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Bank of America Corporation assumed coverage on shares of Westar Energy in a research note on Tuesday, October 24th. They set a “buy” rating and a $57.00 price objective on the stock. J P Morgan Chase & Co set a $58.00 price objective on shares of Westar Energy and gave the stock a “buy” rating in a research note on Thursday, October 12th. Finally, Wells Fargo & Company raised shares of Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 price objective on the stock in a research note on Monday, October 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $55.75.

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.

Insider Buying and Selling by Quarter for Westar Energy (NYSE:WR)

Receive News & Ratings for Westar Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westar Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply