First Trust Advisors LP boosted its position in shares of Westar Energy, Inc. (NYSE:WR) by 69.2% during the second quarter, Holdings Channel reports. The firm owned 902,806 shares of the utilities provider’s stock after buying an additional 369,234 shares during the period. First Trust Advisors LP’s holdings in Westar Energy were worth $47,867,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its position in shares of Westar Energy by 10.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 449,709 shares of the utilities provider’s stock worth $23,844,000 after buying an additional 40,771 shares during the period. Tdam USA Inc. increased its position in shares of Westar Energy by 8.7% in the second quarter. Tdam USA Inc. now owns 11,743 shares of the utilities provider’s stock worth $625,000 after buying an additional 940 shares during the period. IFP Advisors Inc increased its position in shares of Westar Energy by 15.3% in the second quarter. IFP Advisors Inc now owns 10,877 shares of the utilities provider’s stock worth $577,000 after buying an additional 1,441 shares during the period. Retirement Planning Group increased its position in shares of Westar Energy by 0.6% in the second quarter. Retirement Planning Group now owns 4,540 shares of the utilities provider’s stock worth $241,000 after buying an additional 26 shares during the period. Finally, Sei Investments Co. increased its position in shares of Westar Energy by 1,731.3% in the second quarter. Sei Investments Co. now owns 300,639 shares of the utilities provider’s stock worth $15,940,000 after buying an additional 284,222 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) opened at 50.99 on Friday. The stock’s 50 day moving average price is $51.29 and its 200 day moving average price is $52.96. The company has a market cap of $7.25 billion, a P/E ratio of 21.42 and a beta of 0.39. Westar Energy, Inc. has a 1-year low of $49.21 and a 1-year high of $57.50.

Westar Energy (NYSE:WR) last announced its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.50 earnings per share 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 quarter in the previous year, the business earned $0.51 EPS. Equities research analysts forecast that Westar Energy, Inc. will post $2.51 earnings per share for the current year.

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A number of brokerages have commented on WR. BidaskClub upgraded Westar Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Wolfe Research initiated coverage on Westar Energy in a research note on Wednesday, July 26th. They set an “outperform” rating for the company. Zacks Investment Research downgraded Westar Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. Evercore ISI upgraded Westar Energy from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $49.00 to $53.00 in a research note on Tuesday, July 11th. Finally, J P Morgan Chase & Co upgraded Westar Energy from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $32.00 to $53.00 in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $55.33.

Westar Energy Company 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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Institutional Ownership by Quarter for Westar Energy (NYSE:WR)

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