Westar Energy Inc. (WR) to Issue $0.38 Quarterly Dividend
Westar Energy Inc. (NYSE:WR) declared a quarterly dividend on Wednesday, November 23rd. Stockholders of record on Friday, December 9th will be paid a dividend of 0.38 per share on Tuesday, January 3rd. This represents a $1.52 annualized dividend and a dividend yield of 2.67%.
Shares of Westar Energy (NYSE:WR) traded down 0.04% on Wednesday, hitting $56.98. 532,095 shares of the stock traded hands. The stock has a 50 day moving average price of $56.89 and a 200-day moving average price of $55.51. Westar Energy has a 52 week low of $40.00 and a 52 week high of $57.49. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 24.49 and a beta of 0.38.
Westar Energy (NYSE:WR) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.05. The business had revenue of $764.65 million for the quarter. Westar Energy had a net margin of 13.27% and a return on equity of 8.91%. Westar Energy’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $0.97 EPS. On average, equities research analysts forecast that Westar Energy will post $2.46 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Johnson Investment Counsel Inc. acquired a new position in shares of Westar Energy during the second quarter worth about $333,000. APG Asset Management N.V. acquired a new position in shares of Westar Energy during the second quarter worth about $10,649,000. IndexIQ Advisors LLC acquired a new position in shares of Westar Energy during the second quarter worth about $1,917,000. Pacad Investment Ltd. boosted its position in shares of Westar Energy by 218.3% in the second quarter. Pacad Investment Ltd. now owns 19,100 shares of the company’s stock worth $1,071,000 after buying an additional 13,100 shares during the period. Finally, Credit Suisse AG boosted its position in shares of Westar Energy by 347.2% in the second quarter. Credit Suisse AG now owns 717,631 shares of the company’s stock worth $40,252,000 after buying an additional 557,160 shares during the period. 65.81% of the stock is owned by institutional investors.
Separately, Zacks Investment Research raised shares of Westar Energy from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Westar Energy currently has a consensus rating of “Hold” and an average target price of $55.20.
About Westar Energy
Westar Energy, Inc (Westar Energy) is an electric utility in Kansas. The Company provides electric generation, transmission and distribution services to approximately 700,000 customers in Kansas. The Company provides these services in central and northeastern Kansas, including the cities of Topeka, Lawrence, Manhattan, Salina and Hutchinson.
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