JPMorgan Chase & Co. Has $236,054,000 Position in Westar Energy Inc. (WR)
JPMorgan Chase & Co. boosted its stake in shares of Westar Energy Inc. (NYSE:WR) by 8.1% during the third quarter, Holdings Channel reports. The fund owned 4,159,543 shares of the company’s stock after buying an additional 311,814 shares during the period. JPMorgan Chase & Co.’s holdings in Westar Energy were worth $236,054,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Retirement Planning Group raised its position in Westar Energy by 0.5% in the third quarter. Retirement Planning Group now owns 4,467 shares of the company’s stock worth $254,000 after buying an additional 23 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Westar Energy by 0.3% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,847 shares of the company’s stock worth $558,000 after buying an additional 32 shares in the last quarter. Gerstein Fisher raised its position in shares of Westar Energy by 0.6% in the second quarter. Gerstein Fisher now owns 6,255 shares of the company’s stock worth $351,000 after buying an additional 38 shares in the last quarter. IBM Retirement Fund raised its position in shares of Westar Energy by 0.3% in the second quarter. IBM Retirement Fund now owns 14,295 shares of the company’s stock worth $802,000 after buying an additional 42 shares in the last quarter. Finally, Atwood & Palmer Inc. raised its position in shares of Westar Energy by 3.3% in the second quarter. Atwood & Palmer Inc. now owns 2,050 shares of the company’s stock worth $115,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.
Shares of Westar Energy Inc. (NYSE:WR) opened at 57.11 on Wednesday. The company has a market capitalization of $8.10 billion, a P/E ratio of 24.54 and a beta of 0.38. Westar Energy Inc. has a 12 month low of $40.00 and a 12 month high of $57.49. The company’s 50 day moving average price is $56.95 and its 200 day moving average price is $55.65.
Westar Energy (NYSE:WR) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.05. The business had revenue of $764.65 million for the quarter. Westar Energy had a return on equity of 8.91% and a net margin of 13.27%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 earnings per share. Analysts expect that Westar Energy Inc. will post $2.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be paid a $0.38 dividend. The ex-dividend date is Wednesday, December 7th. This represents a $1.52 annualized dividend and a dividend yield of 2.66%. Westar Energy’s payout ratio is presently 65.24%.
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Separately, Zacks Investment Research raised Westar Energy from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $55.20.
About Westar Energy
Westar Energy, Inc (Westar Energy) is an electric utility in Kansas. The Company provides electric generation, transmission and distribution services to approximately 700,000 customers in Kansas. The Company provides these services in central and northeastern Kansas, including the cities of Topeka, Lawrence, Manhattan, Salina and Hutchinson.
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