Westar Energy Inc (WR) Position Raised by Nomura Asset Management Co. Ltd.
Nomura Asset Management Co. Ltd. increased its position in shares of Westar Energy Inc (NYSE:WR) by 12.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,800 shares of the utilities provider’s stock after purchasing an additional 2,400 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Westar Energy were worth $1,082,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Ffcm LLC acquired a new stake in shares of Westar Energy during the 3rd quarter worth about $113,000. D.A. Davidson & CO. increased its position in shares of Westar Energy by 6.6% during the 2nd quarter. D.A. Davidson & CO. now owns 3,240 shares of the utilities provider’s stock worth $171,000 after purchasing an additional 202 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Westar Energy by 18.3% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 5,089 shares of the utilities provider’s stock worth $269,000 after purchasing an additional 789 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Westar Energy by 2,172.7% during the 3rd quarter. Bessemer Group Inc. now owns 5,500 shares of the utilities provider’s stock worth $273,000 after purchasing an additional 5,258 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Westar Energy by 115.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,368 shares of the utilities provider’s stock valued at $285,000 after acquiring an additional 2,882 shares in the last quarter. Institutional investors and hedge funds own 73.66% of the company’s stock.
Several equities research analysts have weighed in on WR shares. Zacks Investment Research upgraded shares of Westar Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Wells Fargo & Company upgraded shares of 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. Bank of America started coverage on shares of Westar Energy in a research report on Tuesday, October 24th. They issued a “buy” rating and a $57.00 price objective for the company. Finally, J P Morgan Chase & Co set a $58.00 price objective on shares of Westar Energy and gave the company a “buy” rating in a research report on Thursday, October 12th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $55.75.
Westar Energy (NYSE:WR) last posted its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.09). The company had revenue of $794.33 million during the quarter, compared to analyst estimates of $773.96 million. Westar Energy had a net margin of 13.32% and a return on equity of 8.94%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 EPS. equities research analysts forecast that Westar Energy Inc will post 2.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Thursday, December 7th. Westar Energy’s dividend payout ratio (DPR) is presently 66.39%.
In other news, SVP Greg A. Greenwood sold 8,100 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $53.92, for a total value of $436,752.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Anthony D. Somma sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $54.53, for a total transaction of $163,590.00. The disclosure for this sale can be found here. Insiders sold a total of 55,100 shares of company stock worth $2,991,312 in the last ninety days. Insiders own 0.70% of the company’s stock.
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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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