Westar Energy, Inc. (WR) Stake Decreased by ProShare Advisors LLC
ProShare Advisors LLC cut its position in shares of Westar Energy, Inc. (NYSE:WR) by 12.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,173 shares of the utilities provider’s stock after selling 1,767 shares during the quarter. ProShare Advisors LLC’s holdings in Westar Energy were worth $645,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Westar Energy by 19.3% during the second quarter. BlackRock Inc. now owns 16,587,206 shares of the utilities provider’s stock worth $879,454,000 after buying an additional 2,679,597 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Westar Energy by 5.2% in the first quarter. Vanguard Group Inc. now owns 12,424,214 shares of the utilities provider’s stock valued at $674,263,000 after buying an additional 618,478 shares during the period. State Street Corp lifted its holdings in Westar Energy by 1.7% in the first quarter. State Street Corp now owns 4,690,842 shares of the utilities provider’s stock valued at $254,580,000 after buying an additional 79,734 shares during the period. American Century Companies Inc. lifted its holdings in Westar Energy by 365.2% in the second quarter. American Century Companies Inc. now owns 4,057,368 shares of the utilities provider’s stock valued at $215,122,000 after buying an additional 3,185,194 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Westar Energy by 98.4% in the first quarter. Renaissance Technologies LLC now owns 2,295,300 shares of the utilities provider’s stock valued at $124,566,000 after buying an additional 1,138,400 shares during the period. Institutional investors own 73.65% of the company’s stock.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded Westar Energy from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. BidaskClub raised Westar Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Evercore ISI raised Westar Energy from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $49.00 to $53.00 in a research note on Tuesday, July 11th. Wells Fargo & Company raised Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 price objective on the stock in a research note on Monday. Finally, Wolfe Research began coverage on Westar Energy in a research report on Wednesday, July 26th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $55.25.
In other news, VP Larry D. Irick sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $51.17, for a total value of $511,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anthony D. Somma sold 2,500 shares of the firm’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 disclosure for this sale can be found here. Over the last quarter, insiders sold 31,500 shares of company stock worth $1,611,715. Corporate insiders own 0.70% of the company’s stock.
Shares of Westar Energy, Inc. (NYSE WR) opened at 50.34 on Wednesday. Westar Energy, Inc. has a 1-year low of $49.20 and a 1-year high of $57.50. The company has a market cap of $7.15 billion, a price-to-earnings ratio of 21.15 and a beta of 0.39. The stock has a 50 day moving average of $50.77 and a 200 day moving average of $52.06.
Westar Energy (NYSE:WR) last released its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). Westar Energy had a net margin of 13.33% and a return on equity of 8.87%. The business had revenue of $609.32 million for the quarter, compared to the consensus estimate of $633.96 million. During the same period in the previous year, the company earned $0.51 EPS. Analysts predict that Westar Energy, Inc. will post $2.50 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were given a $0.40 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.18%. Westar Energy’s dividend payout ratio is currently 67.23%.
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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