California State Teachers Retirement System lowered its holdings in shares of Westar Energy Inc (NYSE:WR) by 8.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 240,273 shares of the utilities provider’s stock after selling 21,144 shares during the period. California State Teachers Retirement System owned about 0.17% of Westar Energy worth $11,918,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. State Board of Administration of Florida Retirement System grew its position in Westar Energy by 0.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 221,473 shares of the utilities provider’s stock worth $11,742,000 after acquiring an additional 721 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Westar Energy in the 3rd quarter valued at about $1,601,000. Nordea Investment Management AB grew its position in shares of Westar Energy by 117.7% in the 3rd quarter. Nordea Investment Management AB now owns 6,804 shares of the utilities provider’s stock valued at $337,000 after buying an additional 3,678 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Westar Energy by 270.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,681,339 shares of the utilities provider’s stock valued at $89,148,000 after buying an additional 1,227,431 shares during the last quarter. Finally, K2 Principal Fund L.P. grew its position in shares of Westar Energy by 8.9% in the 3rd quarter. K2 Principal Fund L.P. now owns 32,676 shares of the utilities provider’s stock valued at $1,621,000 after buying an additional 2,676 shares during the last quarter. 73.63% of the stock is owned by institutional investors.
WR has been the topic of a number of analyst reports. Zacks Investment Research upgraded Westar Energy from a “sell” rating to a “hold” rating in a research report on Saturday, September 23rd. Wells Fargo & Co 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, October 2nd. JPMorgan Chase & Co. set a $58.00 price objective on Westar Energy and gave the company a “buy” rating in a research note on Thursday, October 12th. Finally, Bank of America began coverage on Westar Energy in a research note on Tuesday, October 24th. They issued a “buy” rating and a $57.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.75.
Westar Energy (NYSE:WR) last posted its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). Westar Energy had a return on equity of 8.94% and a net margin of 13.32%. The firm had revenue of $794.33 million for the quarter, compared to analyst estimates of $773.96 million. During the same period last year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. equities analysts predict that Westar Energy Inc will post 2.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Thursday, December 7th. Westar Energy’s dividend payout ratio (DPR) is presently 66.39%.
In other news, CFO Anthony D. Somma sold 3,000 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $54.53, for a total value of $163,590.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kevin L. Kongs sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $54.06, for a total value of $108,120.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,100 shares of company stock valued at $2,991,312. Company 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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