Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its stake in shares of Westar Energy, Inc. (NYSE:WR) by 15.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,722 shares of the utilities provider’s stock after selling 3,658 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Westar Energy were worth $1,046,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WR. Schwab Charles Investment Management Inc. raised its position in Westar Energy by 10.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 449,709 shares of the utilities provider’s stock valued at $23,844,000 after buying an additional 40,771 shares during the last quarter. Tdam USA Inc. raised its position in Westar Energy by 8.7% in the second quarter. Tdam USA Inc. now owns 11,743 shares of the utilities provider’s stock valued at $625,000 after buying an additional 940 shares during the last quarter. IFP Advisors Inc raised its position in Westar Energy by 15.3% in the second quarter. IFP Advisors Inc now owns 10,877 shares of the utilities provider’s stock valued at $577,000 after buying an additional 1,441 shares during the last quarter. Retirement Planning Group raised its position in Westar Energy by 0.6% in the second quarter. Retirement Planning Group now owns 4,540 shares of the utilities provider’s stock valued at $241,000 after buying an additional 26 shares during the last quarter. Finally, Sei Investments Co. raised its position in Westar Energy by 1,731.3% in the second quarter. Sei Investments Co. now owns 300,639 shares of the utilities provider’s stock valued at $15,940,000 after buying an additional 284,222 shares during the last quarter. Hedge funds and other institutional investors own 73.47% of the company’s stock.

Shares of Westar Energy, Inc. (NYSE WR) opened at 51.02 on Monday. The stock has a market cap of $7.25 billion, a P/E ratio of 21.44 and a beta of 0.39. The firm’s 50-day moving average price is $50.99 and its 200-day moving average price is $52.83. Westar Energy, Inc. has a 52-week low of $49.21 and a 52-week high of $57.50.

Westar Energy (NYSE:WR) last posted its earnings results on Tuesday, August 8th. The utilities provider reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.06. Westar Energy had a net margin of 13.33% and a return on equity of 8.87%. The company had revenue of $609.32 million for the quarter, compared to the consensus estimate of $633.96 million. During the same quarter last year, the business earned $0.51 earnings per share. On average, equities research analysts forecast that Westar Energy, Inc. will post $2.50 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This report was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another site, it was stolen and reposted in violation of US and international trademark & copyright law. The legal version of this report can be accessed at https://www.thecerbatgem.com/2017/08/21/mitsubishi-ufj-kokusai-asset-management-co-ltd-has-1-05-million-position-in-westar-energy-inc-wr.html.

Several equities analysts recently commented on the company. BidaskClub upgraded Westar Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Wolfe Research started coverage on Westar Energy in a research report on Wednesday, July 26th. They set an “outperform” rating for the company. Zacks Investment Research downgraded Westar Energy from a “hold” rating to a “sell” rating in a research report on Friday, July 14th. Evercore ISI raised Westar Energy from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $49.00 to $53.00 in a research report on Tuesday, July 11th. Finally, J P Morgan Chase & Co raised Westar Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $32.00 to $53.00 in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $55.33.

In other news, CFO Anthony D. Somma sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $51.21, for a total value of $204,840.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Bruce A. Akin sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $51.50, for a total value of $257,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,000 shares of company stock worth $1,484,040. 0.61% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding WR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Westar Energy, Inc. (NYSE:WR).

Institutional Ownership by Quarter for Westar Energy (NYSE:WR)

Receive News & Stock 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 stocks with our FREE daily email newsletter.