Westar Energy, Inc. (WR) Stake Lessened by Laurel Wealth Advisors Inc.
Laurel Wealth Advisors Inc. decreased its position in Westar Energy, Inc. (NYSE:WR) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,075 shares of the utilities provider’s stock after selling 200 shares during the period. Laurel Wealth Advisors Inc.’s holdings in Westar Energy were worth $269,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. D.A. Davidson & CO. boosted its holdings in Westar Energy by 6.6% in the second quarter. D.A. Davidson & CO. now owns 3,240 shares of the utilities provider’s stock valued at $171,000 after acquiring an additional 202 shares in the last quarter. V Wealth Management LLC bought a new stake in Westar Energy in the second quarter valued at $187,000. Dynamic Technology Lab Private Ltd bought a new stake in Westar Energy in the first quarter valued at $233,000. Retirement Planning Group boosted its holdings 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 acquiring an additional 26 shares in the last quarter. Finally, Sii Investments Inc. WI boosted its holdings in Westar Energy by 4.9% in the first quarter. Sii Investments Inc. WI now owns 4,495 shares of the utilities provider’s stock valued at $242,000 after acquiring an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 73.65% of the company’s stock.
Westar Energy, Inc. (NYSE WR) traded up 0.70% during trading on Wednesday, hitting $51.64. The stock had a trading volume of 86,628 shares. Westar Energy, Inc. has a 52-week low of $49.20 and a 52-week high of $57.50. The stock’s 50-day moving average is $50.71 and its 200-day moving average is $51.92. The stock has a market capitalization of $7.34 billion, a PE ratio of 21.34 and a beta of 0.39.
Westar Energy (NYSE:WR) last issued its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.50 earnings per share 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 company 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 business earned $0.51 EPS. On average, analysts predict that Westar Energy, Inc. will post $2.50 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Thursday, September 7th. Westar Energy’s payout ratio is currently 67.23%.
In other Westar Energy news, CFO Anthony D. Somma sold 2,500 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $51.07, for a total value of $127,675.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Larry D. Irick sold 10,000 shares of the 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,500 shares of company stock worth $1,611,715. 0.70% of the stock is owned by corporate insiders.
Several analysts recently weighed in on WR shares. Zacks Investment Research cut shares of Westar Energy from a “buy” rating to a “hold” rating in a report on Friday, July 7th. BidaskClub raised Westar Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Wolfe Research began coverage on Westar Energy in a research report on Wednesday, July 26th. They set an “outperform” rating for the company. Wells Fargo & Company raised Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a research report on Monday, October 2nd. Finally, Evercore ISI raised Westar Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $49.00 to $53.00 in a research report on Tuesday, July 11th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $53.67.
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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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