Rockland Trust Co. Increases Stake in Westar Energy Inc (WR)
Rockland Trust Co. boosted its position in shares of Westar Energy Inc (NYSE:WR) by 0.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 156,083 shares of the utilities provider’s stock after purchasing an additional 1,313 shares during the quarter. Rockland Trust Co. owned about 0.11% of Westar Energy worth $8,241,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in WR. Stevens Capital Management LP bought a new stake in shares of Westar Energy in the third quarter valued at about $1,601,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Westar Energy by 18.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 28,880 shares of the utilities provider’s stock worth $1,436,000 after purchasing an additional 4,399 shares in the last quarter. Ameriprise Financial Inc. raised 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 worth $89,148,000 after purchasing an additional 1,227,431 shares in the last quarter. K2 Principal Fund L.P. raised its holdings in Westar Energy by 8.9% in the third quarter. K2 Principal Fund L.P. now owns 32,676 shares of the utilities provider’s stock worth $1,621,000 after purchasing an additional 2,676 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Westar Energy by 117.7% during the third quarter. Nordea Investment Management AB now owns 6,804 shares of the utilities provider’s stock valued at $337,000 after acquiring an additional 3,678 shares in the last quarter. 73.63% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Greg A. Greenwood sold 8,100 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $53.92, for a total transaction of $436,752.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark A. Ruelle sold 37,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $54.35, for a total value of $2,010,950.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,100 shares of company stock valued at $2,991,312. Company insiders own 0.70% of the company’s stock.
Several equities analysts have recently issued reports on WR shares. JPMorgan Chase & Co. set a $58.00 price objective on shares of Westar Energy and gave the company a “buy” rating in a report on Thursday, October 12th. Bank of America initiated coverage on Westar Energy in a research report on Tuesday, October 24th. They issued a “buy” rating and a $57.00 target price on the stock. Zacks Investment Research upgraded Westar Energy from a “sell” rating to a “hold” rating in a research report on Saturday, September 23rd. Finally, Wells Fargo & Co upgraded Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 price objective on the stock in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $55.75.
Shares of Westar Energy Inc (NYSE WR) traded down $1.25 on Thursday, hitting $51.00. The company’s stock had a trading volume of 533,500 shares, compared to its average volume of 649,414. Westar Energy Inc has a twelve month low of $49.20 and a twelve month high of $57.32. The firm has a market cap of $7,250.00, a P/E ratio of 21.16, a PEG ratio of 6.05 and a beta of 0.42. The company has a quick ratio of 0.65, a current ratio of 1.07 and a debt-to-equity ratio of 0.97.
Westar Energy (NYSE:WR) last issued its earnings results on Tuesday, October 31st. The utilities provider reported $1.11 earnings per share (EPS) 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 company had revenue of $794.33 million during the quarter, compared to analyst estimates of $773.96 million. During the same period last year, the business earned $1.09 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. equities analysts expect that Westar Energy Inc will post 2.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, December 7th. Westar Energy’s dividend payout ratio is presently 66.39%.
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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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