Gabelli Funds LLC reduced its holdings in Westar Energy Inc (NYSE:WR) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,497,777 shares of the utilities provider’s stock after selling 159,471 shares during the quarter. Westar Energy accounts for about 0.8% of Gabelli Funds LLC’s investment portfolio, making the stock its 8th largest position. Gabelli Funds LLC owned 1.76% of Westar Energy worth $131,883,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in WR. US Bancorp DE grew its position in Westar Energy by 7.5% during the 4th quarter. US Bancorp DE now owns 29,902 shares of the utilities provider’s stock worth $1,580,000 after acquiring an additional 2,091 shares during the last quarter. Aperio Group LLC lifted its holdings in Westar Energy by 7.7% in the 4th quarter. Aperio Group LLC now owns 98,083 shares of the utilities provider’s stock worth $5,179,000 after buying an additional 7,051 shares during the period. Victory Capital Management Inc. lifted its holdings in Westar Energy by 11.0% in the 4th quarter. Victory Capital Management Inc. now owns 229,613 shares of the utilities provider’s stock worth $12,124,000 after buying an additional 22,838 shares during the period. Engineers Gate Manager LP lifted its holdings in Westar Energy by 14.3% in the 4th quarter. Engineers Gate Manager LP now owns 68,151 shares of the utilities provider’s stock worth $3,598,000 after buying an additional 8,546 shares during the period. Finally, Mutual of America Capital Management LLC lifted its holdings in Westar Energy by 1.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 131,259 shares of the utilities provider’s stock worth $6,930,000 after buying an additional 1,291 shares during the period. Hedge funds and other institutional investors own 73.81% of the company’s stock.
In related news, CEO Mark A. Ruelle sold 37,000 shares of Westar Energy stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.70% of the company’s stock.
WR has been the subject of a number of research analyst reports. Bank of America initiated coverage on Westar Energy in a research note on Tuesday, October 24th. They issued a “buy” rating and a $57.00 target price for the company. Zacks Investment Research upgraded Westar Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 28th. JPMorgan Chase & Co. lowered their price objective on Westar Energy from $62.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Finally, UBS Group initiated coverage on Westar Energy in a research note on Friday, February 2nd. They set a “neutral” rating and a $55.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Westar Energy currently has an average rating of “Buy” and a consensus target price of $55.50.
Shares of Westar Energy Inc (NYSE WR) traded up $1.68 on Friday, hitting $50.36. The company had a trading volume of 1,030,466 shares, compared to its average volume of 613,090. 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 Inc has a one year low of $47.06 and a one year high of $57.32. The company has a market capitalization of $7,155.85, a price-to-earnings ratio of 20.90, a P/E/G ratio of 5.90 and a beta of 0.35.
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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