Brandywine Global Investment Management LLC acquired a new position in shares of Westar Energy Inc (NYSE:WR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 122,211 shares of the utilities provider’s stock, valued at approximately $6,453,000. Brandywine Global Investment Management LLC owned approximately 0.09% of Westar Energy as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of Westar Energy by 2.3% during the 4th quarter. BlackRock Inc. now owns 19,013,752 shares of the utilities provider’s stock valued at $1,003,927,000 after buying an additional 433,537 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Westar Energy by 30.1% during the 4th quarter. Renaissance Technologies LLC now owns 4,150,000 shares of the utilities provider’s stock valued at $219,120,000 after buying an additional 959,000 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Westar Energy by 20.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,249,977 shares of the utilities provider’s stock valued at $112,184,000 after buying an additional 379,131 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Westar Energy by 31.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,215,217 shares of the utilities provider’s stock valued at $109,878,000 after buying an additional 533,878 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Westar Energy by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,987,350 shares of the utilities provider’s stock valued at $98,572,000 after buying an additional 25,378 shares during the period. Hedge funds and other institutional investors own 74.66% of the company’s stock.
Shares of Westar Energy Inc (WR) opened at $51.10 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 0.98. Westar Energy Inc has a 52 week low of $47.06 and a 52 week high of $57.32. The stock has a market cap of $7,160.01, a price-to-earnings ratio of 22.51, a P/E/G ratio of 5.03 and a beta of 0.41.
Westar Energy (NYSE:WR) last released its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.16). Westar Energy had a net margin of 12.60% and a return on equity of 8.40%. The business had revenue of $595.00 million during the quarter, compared to analyst estimates of $642.02 million. During the same period in the previous year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. research analysts forecast that Westar Energy Inc will post 2.5 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Thursday, March 8th. Westar Energy’s payout ratio is presently 70.48%.
In related news, CFO Anthony D. Somma sold 12,000 shares of Westar Energy stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $49.93, for a total value of $599,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Bruce A. Akin sold 5,507 shares of Westar Energy stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $50.53, for a total transaction of $278,268.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,507 shares of company stock valued at $1,130,229. 0.70% of the stock is owned by company insiders.
A number of brokerages have issued reports on WR. Zacks Investment Research raised shares of Westar Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 28th. JPMorgan Chase & Co. decreased their target price on shares of Westar Energy from $62.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. TheStreet lowered shares of Westar Energy from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. Finally, UBS began coverage on shares of Westar Energy in a research note on Friday, February 2nd. They set a “neutral” rating and a $55.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.50.
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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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