K2 Principal Fund L.P. Purchases New Holdings in Westar Energy, Inc. (WR)
K2 Principal Fund L.P. purchased a new stake in Westar Energy, Inc. (NYSE:WR) during the second quarter, according to its most recent filing with the SEC. The firm purchased 30,000 shares of the utilities provider’s stock, valued at approximately $1,591,000.
Other large investors also recently made changes to their positions in the company. Blackstart Capital LP purchased a new position in shares of Westar Energy in the 1st quarter valued at $10,057,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Westar Energy by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 221,473 shares of the utilities provider’s stock valued at $11,742,000 after acquiring an additional 721 shares during the period. First Trust Advisors LP increased its holdings in shares of Westar Energy by 69.2% in the 2nd quarter. First Trust Advisors LP now owns 902,806 shares of the utilities provider’s stock valued at $47,867,000 after acquiring an additional 369,234 shares during the period. Vanguard Group Inc. increased its holdings in shares of Westar Energy by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 12,424,214 shares of the utilities provider’s stock valued at $674,263,000 after acquiring an additional 618,478 shares during the period. Finally, Sii Investments Inc. WI increased its holdings in shares of Westar Energy by 4.9% in the 1st quarter. Sii Investments Inc. WI now owns 4,495 shares of the utilities provider’s stock valued at $242,000 after acquiring an additional 211 shares during the period. Institutional investors and hedge funds own 73.65% of the company’s stock.
WR has been the topic of a number of analyst reports. Zacks Investment Research upgraded Westar Energy from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, June 20th. J P Morgan Chase & Co upgraded Westar Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $32.00 to $53.00 in a report on Tuesday, July 11th. Evercore ISI upgraded Westar Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $49.00 to $53.00 in a report on Tuesday, July 11th. BidaskClub downgraded Westar Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Wolfe Research initiated coverage on Westar Energy in a report on Wednesday, July 26th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Westar Energy has an average rating of “Buy” and an average price target of $55.33.
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Westar Energy, Inc. (NYSE:WR) traded down 0.04% during mid-day trading on Friday, hitting $50.10. The stock had a trading volume of 36,307 shares. Westar Energy, Inc. has a 52-week low of $49.21 and a 52-week high of $57.50. The firm has a 50-day moving average of $51.12 and a 200-day moving average of $52.40. The stock has a market cap of $7.12 billion, a P/E ratio of 21.05 and a beta of 0.41.
Westar Energy (NYSE:WR) last posted its earnings results on Tuesday, August 8th. The utilities provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.06). The business had revenue of $609.32 million during the quarter, compared to analysts’ expectations 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 last year, the company earned $0.51 EPS. On average, analysts forecast that Westar Energy, Inc. will post $2.50 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.19%. The ex-dividend date is Thursday, September 7th. Westar Energy’s dividend payout ratio (DPR) is presently 67.23%.
In other Westar Energy news, SVP Bruce A. Akin sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $51.50, for a total transaction of $257,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Greg A. Greenwood sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $51.00, for a total value of $510,000.00. The disclosure for this sale can be found here. Insiders sold 31,500 shares of company stock worth $1,611,715 in the last three months. 0.61% of the stock is currently owned by corporate insiders.
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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