Russell Investments Group Ltd. decreased its position in Westar Energy, Inc. (NYSE:WR) by 16.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 243,567 shares of the utilities provider’s stock after selling 49,594 shares during the period. Russell Investments Group Ltd. owned 0.17% of Westar Energy worth $12,916,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in WR. BlackRock Inc. boosted its position in Westar Energy by 4,412.0% in the first quarter. BlackRock Inc. now owns 13,907,609 shares of the utilities provider’s stock worth $754,767,000 after buying an additional 13,599,373 shares during the period. Renaissance Technologies LLC boosted its position 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 worth $124,566,000 after buying an additional 1,138,400 shares during the period. American Century Companies Inc. purchased a new position in Westar Energy during the first quarter worth about $47,333,000. Vanguard Group Inc. boosted its position 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 worth $674,263,000 after buying an additional 618,478 shares during the period. Finally, Citadel Advisors LLC boosted its position in Westar Energy by 1,920.6% in the first quarter. Citadel Advisors LLC now owns 625,785 shares of the utilities provider’s stock worth $33,961,000 after buying an additional 594,815 shares during the period. Hedge funds and other institutional investors own 71.31% of the company’s stock.
Shares of Westar Energy, Inc. (NYSE:WR) traded down 0.20% during mid-day trading on Friday, hitting $50.99. 470,586 shares of the company were exchanged. The firm has a market capitalization of $7.25 billion, a P/E ratio of 21.42 and a beta of 0.39. Westar Energy, Inc. has a 12-month low of $49.21 and a 12-month high of $57.50. The company’s 50-day moving average price is $51.29 and its 200-day moving average price is $52.96.
Westar Energy (NYSE:WR) last issued its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.06. The company had revenue of $609.32 million during the quarter, compared to the consensus estimate of $633.96 million. Westar Energy had a net margin of 13.33% and a return on equity of 8.87%. During the same period in the previous year, the company earned $0.51 EPS. Equities research analysts predict that Westar Energy, Inc. will post $2.51 earnings per share for the current fiscal year.
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A number of research firms have recently issued reports on WR. BidaskClub upgraded shares of Westar Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Wolfe Research began coverage on shares of Westar Energy in a research note on Wednesday, July 26th. They issued an “outperform” rating for the company. Zacks Investment Research cut shares of Westar Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. Evercore ISI upgraded shares of Westar Energy from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $49.00 to $53.00 in a research note on Tuesday, July 11th. Finally, J P Morgan Chase & Co upgraded shares of Westar Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $32.00 to $53.00 in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $55.33.
About Westar Energy
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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