Legal & General Group Plc increased its holdings in shares of Westar Energy Inc (NYSE:WR) by 9.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 745,129 shares of the utilities provider’s stock after purchasing an additional 63,380 shares during the period. Legal & General Group Plc owned 0.52% of Westar Energy worth $36,960,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of WR. World Asset Management Inc grew its holdings in Westar Energy by 1.3% during the second quarter. World Asset Management Inc now owns 9,619 shares of the utilities provider’s stock worth $510,000 after purchasing an additional 124 shares during the period. IFP Advisors Inc grew its holdings in Westar Energy by 15.3% during the second quarter. IFP Advisors Inc now owns 10,877 shares of the utilities provider’s stock worth $577,000 after purchasing an additional 1,441 shares during the period. Tdam USA Inc. grew its holdings in Westar Energy by 8.7% during the second quarter. Tdam USA Inc. now owns 11,743 shares of the utilities provider’s stock worth $625,000 after purchasing an additional 940 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Westar Energy by 10.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 449,709 shares of the utilities provider’s stock worth $23,844,000 after acquiring an additional 40,771 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Westar Energy by 69.2% during 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. Institutional investors and hedge funds own 73.66% of the company’s stock.
Several equities research analysts have issued reports on WR shares. 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 report on Thursday, October 12th. Bank of America started coverage on shares of Westar Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $57.00 price objective for the company. Zacks Investment Research upgraded shares of Westar Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 28th. Finally, Wells Fargo & Company upgraded shares of Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a research report on Monday, October 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $55.75.
Shares of Westar Energy Inc (NYSE:WR) traded up $0.32 during mid-day trading on Friday, reaching $56.41. 758,200 shares of the company’s stock traded hands, compared to its average volume of 766,013. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.07 and a quick ratio of 0.65. The firm has a market capitalization of $8,030.00, a P/E ratio of 23.44, a PEG ratio of 6.80 and a beta of 0.42. Westar Energy Inc has a 1 year low of $49.20 and a 1 year high of $57.50.
Westar Energy (NYSE:WR) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $1.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.09). The company had revenue of $794.33 million for the quarter, compared to analyst estimates of $773.96 million. Westar Energy had a return on equity of 8.94% and a net margin of 13.32%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business earned $1.09 earnings per share. research analysts forecast that Westar Energy Inc will post 2.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be given a $0.40 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.84%. Westar Energy’s payout ratio is 66.39%.
In related news, CEO Mark A. Ruelle sold 37,000 shares of Westar Energy stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $54.35, for a total value of $2,010,950.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Greg A. Greenwood sold 8,100 shares of Westar Energy stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $53.92, for a total transaction of $436,752.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,100 shares of company stock valued at $2,991,312. 0.70% of the stock is owned by company insiders.
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Westar Energy Company 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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