Westar Energy, Inc. (WR) Shares Sold by Citigroup Inc.
Citigroup Inc. reduced its holdings in Westar Energy, Inc. (NYSE:WR) by 12.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,444,835 shares of the utilities provider’s stock after selling 211,593 shares during the period. Citigroup Inc. owned about 1.02% of Westar Energy worth $76,605,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. V Wealth Management LLC purchased a new stake in Westar Energy in the 2nd quarter worth about $187,000. AE Wealth Management LLC purchased a new stake in shares of Westar Energy during the 1st quarter worth about $201,000. MAI Capital Management purchased a new stake in shares of Westar Energy during the 1st quarter worth about $218,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Westar Energy during the 1st quarter worth about $233,000. Finally, Retirement Planning Group raised its stake in shares of Westar Energy by 0.6% during the 2nd quarter. Retirement Planning Group now owns 4,540 shares of the utilities provider’s stock worth $241,000 after purchasing an additional 26 shares in the last quarter. 73.65% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Anthony D. Somma sold 2,500 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $51.07, for a total transaction of $127,675.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Larry D. Irick sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $51.17, for a total value of $511,700.00. The disclosure for this sale can be found here. Insiders have sold 31,500 shares of company stock valued at $1,611,715 over the last ninety days. 0.61% of the stock is owned by insiders.
Westar Energy, Inc. (NYSE WR) traded up 0.67% during midday trading on Tuesday, hitting $50.77. The stock had a trading volume of 142,735 shares. The stock has a 50-day moving average of $51.12 and a 200-day moving average of $52.43. The firm has a market cap of $7.21 billion, a P/E ratio of 21.33 and a beta of 0.41. 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 quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.06). The firm had revenue of $609.32 million for the quarter, compared to analyst estimates of $633.96 million. Westar Energy had a return on equity of 8.87% and a net margin of 13.33%. During the same period in the prior year, the company earned $0.51 earnings per share. Analysts forecast that Westar Energy, Inc. will post $2.50 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.60 annualized dividend and a dividend yield of 3.17%. Westar Energy’s dividend payout ratio is currently 67.23%.
A number of equities research analysts have recently weighed in on WR shares. Zacks Investment Research raised Westar Energy from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Wednesday, June 28th. BidaskClub raised 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 note on Wednesday, July 26th. They set an “outperform” rating for the company. Evercore ISI raised Westar Energy from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $49.00 to $53.00 in a research note on Tuesday, July 11th. Finally, J P Morgan Chase & Co raised Westar Energy from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $32.00 to $53.00 in a research note on Tuesday, July 11th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $55.33.
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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