Forsta AP Fonden lifted its position in shares of Westar Energy (NYSE:WR) by 98.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,400 shares of the utilities provider’s stock after buying an additional 47,900 shares during the quarter. Forsta AP Fonden owned approximately 0.07% of Westar Energy worth $5,070,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its holdings in Westar Energy by 2.3% in the fourth quarter. BlackRock Inc. now owns 19,013,752 shares of the utilities provider’s stock valued at $1,003,927,000 after purchasing an additional 433,537 shares during the period. Renaissance Technologies LLC grew its holdings in Westar Energy by 30.1% in the fourth quarter. Renaissance Technologies LLC now owns 4,150,000 shares of the utilities provider’s stock valued at $219,120,000 after purchasing an additional 959,000 shares during the period. Franklin Resources Inc. grew its holdings in Westar Energy by 10.8% in the fourth quarter. Franklin Resources Inc. now owns 2,060,000 shares of the utilities provider’s stock valued at $108,768,000 after purchasing an additional 200,000 shares during the period. Citadel Advisors LLC grew its holdings in Westar Energy by 67.9% in the fourth quarter. Citadel Advisors LLC now owns 1,382,468 shares of the utilities provider’s stock valued at $72,995,000 after purchasing an additional 558,847 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Westar Energy by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 1,249,368 shares of the utilities provider’s stock valued at $65,932,000 after purchasing an additional 42,886 shares during the period. Institutional investors and hedge funds own 74.70% of the company’s stock.
WR opened at $52.83 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.82 and a debt-to-equity ratio of 0.97. Westar Energy has a 52-week low of $47.06 and a 52-week high of $57.32. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 5.70 and a beta of 0.29.
Westar Energy (NYSE:WR) last released its quarterly earnings data on Wednesday, May 9th. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.06). Westar Energy had a return on equity of 8.40% and a net margin of 12.50%. The business had revenue of $600.20 million for the quarter, compared to analysts’ expectations of $567.39 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. research analysts predict that Westar Energy will post 2.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Wednesday, May 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, May 29th. This represents a $1.60 annualized dividend and a yield of 3.03%. Westar Energy’s dividend payout ratio is currently 70.48%.
In other Westar Energy news, CEO Mark A. Ruelle sold 29,500 shares of the business’s stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $51.02, for a total transaction of $1,505,090.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anthony D. Somma sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $49.93, for a total transaction of $599,160.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,007 shares of company stock valued at $3,599,039. 0.70% of the stock is owned by insiders.
WR has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Westar Energy from a “buy” rating to a “hold” rating in a report on Friday, January 26th. JPMorgan Chase lowered their target price on shares of Westar Energy from $62.00 to $56.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. ValuEngine upgraded shares of Westar Energy from a “hold” rating to a “buy” rating in a report on Friday, April 27th. TheStreet downgraded shares of Westar Energy from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Finally, UBS initiated coverage on shares of Westar Energy in a report on Friday, February 2nd. They issued a “neutral” rating and a $55.00 target price for the company. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $55.67.
About Westar Energy
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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