Westar Energy, Inc. (WR) Shares Sold by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA decreased its stake in shares of Westar Energy, Inc. (NYSE:WR) by 65.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,783 shares of the utilities provider’s stock after selling 165,590 shares during the period. BNP Paribas Arbitrage SA owned about 0.06% of Westar Energy worth $4,654,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of WR. Trust Co. of Vermont increased its position in shares of Westar Energy by 22.5% in the first quarter. Trust Co. of Vermont now owns 2,450 shares of the utilities provider’s stock worth $133,000 after buying an additional 450 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Westar Energy by 1.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,486 shares of the utilities provider’s stock worth $135,000 after buying an additional 46 shares during the period. Advisory Services Network LLC acquired a new position in shares of Westar Energy during the first quarter worth approximately $139,000. Advantage Investment Management LLC acquired a new position in shares of Westar Energy during the first quarter worth approximately $142,000. Finally, V Wealth Management LLC acquired a new position in shares of Westar Energy during the second quarter worth approximately $187,000. 73.47% of the stock is owned by hedge funds and other institutional investors.
Westar Energy, Inc. (NYSE:WR) opened at 51.70 on Friday. Westar Energy, Inc. has a 52 week low of $49.21 and a 52 week high of $57.50. The company has a market cap of $7.35 billion, a P/E ratio of 21.72 and a beta of 0.39. The company has a 50-day moving average of $50.84 and a 200-day moving average of $52.72.
Westar Energy (NYSE:WR) last posted its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by $0.06. The company had revenue of $609.32 million during the quarter, compared to analyst estimates of $633.96 million. Westar Energy had a net margin of 13.33% and a return on equity of 8.87%. During the same period in the prior year, the company earned $0.51 earnings per share. On average, equities research analysts predict that Westar Energy, Inc. will post $2.50 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.09%. Westar Energy’s dividend payout ratio is presently 67.23%.
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A number of equities analysts recently commented on WR shares. Zacks Investment Research raised shares of Westar Energy from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Tuesday, June 20th. BidaskClub raised shares of Westar Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Evercore ISI raised shares of Westar Energy from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $49.00 to $53.00 in a research note on Tuesday, July 11th. Wolfe Research started coverage on shares of Westar Energy in a research note on Wednesday, July 26th. They issued an “outperform” rating for the company. Finally, J P Morgan Chase & Co raised shares of Westar Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $32.00 to $53.00 in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $55.33.
In related news, CFO Anthony D. Somma sold 4,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $51.21, for a total value of $204,840.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Larry D. Irick sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $51.17, for a total transaction of $511,700.00. The disclosure for this sale can be found here. Insiders sold 31,500 shares of company stock worth $1,611,715 over the last ninety days. 0.61% of the stock is currently owned by corporate insiders.
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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