Nordea Investment Management AB grew its holdings in Westar Energy Inc (NYSE:WR) by 117.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,804 shares of the utilities provider’s stock after purchasing an additional 3,678 shares during the quarter. Nordea Investment Management AB’s holdings in Westar Energy were worth $337,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. D.A. Davidson & CO. raised its holdings in shares of Westar Energy by 6.6% in the 2nd quarter. D.A. Davidson & CO. now owns 3,240 shares of the utilities provider’s stock valued at $171,000 after purchasing an additional 202 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Westar Energy by 18.3% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 5,089 shares of the utilities provider’s stock worth $269,000 after buying an additional 789 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Westar Energy by 2,172.7% in the 3rd quarter. Bessemer Group Inc. now owns 5,500 shares of the utilities provider’s stock worth $273,000 after buying an additional 5,258 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Westar Energy by 115.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,368 shares of the utilities provider’s stock worth $285,000 after buying an additional 2,882 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in shares of Westar Energy by 243.7% in the 3rd quarter. Toronto Dominion Bank now owns 6,001 shares of the utilities provider’s stock worth $298,000 after buying an additional 4,255 shares during the last quarter. Institutional investors and hedge funds own 73.66% of the company’s stock.
WR has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Westar Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 28th. J P Morgan Chase & Co set a $58.00 price objective on shares of Westar Energy and gave the stock a “buy” rating in a research report on Thursday, October 12th. Bank of America initiated coverage on shares of Westar Energy in a research report on Tuesday, October 24th. They issued a “buy” rating and a $57.00 price objective on the stock. Finally, Wells Fargo & Company raised shares of 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $55.75.
In other Westar Energy news, CFO Anthony D. Somma sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $54.53, for a total transaction of $163,590.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark A. Ruelle sold 37,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $54.35, for a total transaction of $2,010,950.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,100 shares of company stock worth $2,991,312. 0.70% of the stock is owned by insiders.
Shares of Westar Energy Inc (NYSE:WR) traded up $0.35 during trading on Monday, hitting $56.76. 533,700 shares of the stock were exchanged, compared to its average volume of 765,033. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.65 and a current ratio of 1.07. Westar Energy Inc has a 52-week low of $49.20 and a 52-week high of $57.50. The stock has a market cap of $8,040.00, a P/E ratio of 23.55, a P/E/G ratio of 6.84 and a beta of 0.42.
Westar Energy (NYSE:WR) last issued its quarterly earnings data 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 firm had revenue of $794.33 million during the quarter, compared to analysts’ expectations of $773.96 million. During the same period in the previous year, the firm earned $1.09 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. equities research analysts expect that Westar Energy Inc will post 2.45 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Thursday, December 7th. Westar Energy’s dividend payout ratio is presently 66.39%.
Westar Energy 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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