Macquarie Group Ltd. cut its holdings in Westar Energy (NYSE:WR) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,800 shares of the utilities provider’s stock after selling 2,151 shares during the period. Macquarie Group Ltd.’s holdings in Westar Energy were worth $287,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its stake in Westar Energy by 30.1% during the fourth quarter. Renaissance Technologies LLC now owns 4,150,000 shares of the utilities provider’s stock worth $219,120,000 after purchasing an additional 959,000 shares in the last quarter. Citadel Advisors LLC lifted its stake in Westar Energy by 67.9% during the fourth quarter. Citadel Advisors LLC now owns 1,382,468 shares of the utilities provider’s stock worth $72,995,000 after purchasing an additional 558,847 shares in the last quarter. BlackRock Inc. lifted its stake in Westar Energy by 2.3% during the fourth quarter. BlackRock Inc. now owns 19,013,752 shares of the utilities provider’s stock worth $1,003,927,000 after purchasing an additional 433,537 shares in the last quarter. Deutsche Bank AG lifted its stake in Westar Energy by 57.1% during the fourth quarter. Deutsche Bank AG now owns 679,628 shares of the utilities provider’s stock worth $35,880,000 after purchasing an additional 247,128 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Westar Energy by 10.8% during the fourth quarter. Franklin Resources Inc. now owns 2,060,000 shares of the utilities provider’s stock worth $108,768,000 after purchasing an additional 200,000 shares in the last quarter. Hedge funds and other institutional investors own 74.65% of the company’s stock.
WR has been the topic of a number of research reports. Zacks Investment Research upgraded Westar Energy from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Sunday, January 21st. JPMorgan Chase decreased their price target on Westar Energy from $62.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. UBS initiated coverage on Westar Energy in a research note on Friday, February 2nd. They set a “neutral” rating and a $55.00 price target on the stock. Finally, TheStreet cut Westar Energy from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $55.33.
Westar Energy stock opened at $51.06 on Friday. Westar Energy has a twelve month low of $47.06 and a twelve month high of $57.32. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.88. The firm has a market cap of $7,204.10, a PE ratio of 22.49, a P/E/G ratio of 5.07 and a beta of 0.30.
Westar Energy (NYSE:WR) last posted its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.16). Westar Energy had a return on equity of 8.40% and a net margin of 12.60%. The company had revenue of $595.00 million for the quarter, compared to analysts’ expectations of $642.02 million. During the same period in the prior year, the company posted $0.38 EPS. The firm’s revenue was down 1.8% compared to the same quarter last year. analysts predict that Westar Energy will post 2.5 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Friday, March 9th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Thursday, March 8th. Westar Energy’s dividend payout ratio is currently 70.48%.
In related news, CFO Anthony D. Somma sold 12,000 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $49.93, for a total value of $599,160.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark A. Ruelle sold 29,500 shares of the stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $51.02, for a total value of $1,505,090.00. The disclosure for this sale can be found here. Insiders have sold 56,007 shares of company stock worth $2,845,359 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.
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Westar Energy Profile
Westar Energy, Inc, an electric utility company, generates, transmits, and distributes electricity in Kansas. It has 6,602 megawatts of electric generation capacity, which generates electricity through coal, nuclear fuels, natural gas/diesel, and renewable sources. The company also owns approximately 6,400 miles of transmission lines, 24,200 miles of overhead distribution lines, and 5,100 miles of underground distribution lines.
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