Pictet Asset Management Ltd. Increases Holdings in Westar Energy, Inc. (WR)
Pictet Asset Management Ltd. raised its holdings in shares of Westar Energy, Inc. (NYSE:WR) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,300 shares of the utilities provider’s stock after buying an additional 1,200 shares during the period. Pictet Asset Management Ltd.’s holdings in Westar Energy were worth $2,545,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in WR. Capstone Asset Management Co. boosted its position in shares of Westar Energy by 1.3% in the second quarter. Capstone Asset Management Co. now owns 12,252 shares of the utilities provider’s stock worth $650,000 after purchasing an additional 160 shares during the period. Gateway Investment Advisers LLC boosted its position in shares of Westar Energy by 1,922.8% in the second quarter. Gateway Investment Advisers LLC now owns 84,129 shares of the utilities provider’s stock worth $4,461,000 after purchasing an additional 79,970 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in shares of Westar Energy by 508.5% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 23,062 shares of the utilities provider’s stock worth $1,223,000 after acquiring an additional 19,272 shares during the last quarter. V Wealth Management LLC bought a new position in shares of Westar Energy during the second quarter worth $187,000. Finally, LS Investment Advisors LLC boosted its position in shares of Westar Energy by 16.6% during the second quarter. LS Investment Advisors LLC now owns 16,157 shares of the utilities provider’s stock worth $857,000 after acquiring an additional 2,297 shares during the last quarter. 73.19% of the stock is owned by institutional investors and hedge funds.
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A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Westar Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. BidaskClub downgraded shares of Westar Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. J P Morgan Chase & Co set a $58.00 price target on shares of Westar Energy and gave the company a “buy” rating in a research note on Thursday, October 12th. Bank of America Corporation assumed coverage on shares of Westar Energy in a research note on Tuesday, October 24th. They set a “buy” rating and a $57.00 price target on the stock. Finally, Wolfe Research assumed coverage on shares of Westar Energy in a research note on Wednesday, July 26th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $55.75.
Shares of Westar Energy, Inc. (WR) opened at $54.72 on Tuesday. Westar Energy, Inc. has a 12 month low of $49.20 and a 12 month high of $57.50. The firm has a market cap of $7,640.41, a price-to-earnings ratio of 22.31, a PEG ratio of 6.49 and a beta of 0.41. The company has a quick ratio of 0.65, a current ratio of 1.07 and a debt-to-equity ratio of 0.97.
Westar Energy (NYSE:WR) last announced its earnings results on Tuesday, October 31st. The utilities provider reported $1.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.09). Westar Energy had a net margin of 13.32% and a return on equity of 8.94%. The firm had revenue of $794.33 million during the quarter, compared to analysts’ expectations of $773.96 million. During the same period in the prior year, the company posted $1.09 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. sell-side analysts expect that Westar Energy, Inc. will post 2.44 EPS for the current year.
In related news, VP Kevin L. Kongs sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $54.06, for a total value of $108,120.00. The transaction was disclosed in a filing with the SEC, which is accessible 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 stock was sold at an average price of $51.50, for a total transaction of $257,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 25,600 shares of company stock worth $1,365,537. Insiders own 0.70% of the company’s stock.
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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