Stevens Capital Management LP Invests $1.60 Million in Westar Energy, Inc. (WR)
Stevens Capital Management LP purchased a new position in Westar Energy, Inc. (NYSE:WR) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 32,273 shares of the utilities provider’s stock, valued at approximately $1,601,000.
Several other large investors have also added to or reduced their stakes in WR. American Century Companies Inc. increased its holdings in Westar Energy by 365.2% in the second quarter. American Century Companies Inc. now owns 4,057,368 shares of the utilities provider’s stock valued at $215,122,000 after buying an additional 3,185,194 shares during the last quarter. BlackRock Inc. increased its holdings in Westar Energy by 19.3% in the second quarter. BlackRock Inc. now owns 16,587,206 shares of the utilities provider’s stock valued at $879,454,000 after buying an additional 2,679,597 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Westar Energy by 270.4% in the second 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. Janus Henderson Group PLC increased its holdings in Westar Energy by 8,831.1% in the second quarter. Janus Henderson Group PLC now owns 1,169,889 shares of the utilities provider’s stock valued at $62,028,000 after buying an additional 1,156,790 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new stake in Westar Energy in the second quarter valued at about $27,810,000. Institutional investors and hedge funds own 73.19% of the company’s stock.
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In related news, SVP Bruce A. Akin sold 5,000 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $51.50, for a total value of $257,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Larry D. Irick sold 10,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $51.17, for a total transaction of $511,700.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,600 shares of company stock worth $1,877,237. Company insiders own 0.70% of the company’s stock.
Several research firms have recently commented on WR. Wells Fargo & Company raised Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 target price for the company in a report on Monday, October 2nd. Zacks Investment Research raised Westar Energy from a “sell” rating to a “hold” rating in a report on Saturday, September 23rd. Wolfe Research began coverage on Westar Energy in a report on Wednesday, July 26th. They set an “outperform” rating for the company. BidaskClub raised Westar Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Bank of America Corporation began coverage on Westar Energy in a report on Tuesday, October 24th. They set a “buy” rating and a $57.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $55.75.
Westar Energy, Inc. (NYSE WR) opened at $53.77 on Monday. Westar Energy, Inc. has a fifty-two week low of $49.20 and a fifty-two week high of $57.50. The stock has a market capitalization of $7,640.41, a P/E ratio of 22.31, a P/E/G ratio of 6.49 and a beta of 0.41. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.07 and a quick ratio of 0.65.
Westar Energy (NYSE:WR) last released its 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 during the quarter, compared to analyst estimates of $773.96 million. During the same quarter last year, the company earned $1.09 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. analysts anticipate that Westar Energy, Inc. will post 2.44 earnings per share for the current fiscal year.
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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