State Treasurer State of Michigan Increases Stake in Westar Energy Inc. (WR)
State Treasurer State of Michigan increased its position in shares of Westar Energy Inc. (NYSE:WR) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,050 shares of the company’s stock after buying an additional 200 shares during the period. State Treasurer State of Michigan’s holdings in Westar Energy were worth $3,238,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in WR. Retirement Planning Group raised its stake in Westar Energy by 0.6% in the second quarter. Retirement Planning Group now owns 4,444 shares of the company’s stock worth $249,000 after buying an additional 26 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Westar Energy by 0.3% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,847 shares of the company’s stock worth $558,000 after buying an additional 32 shares during the period. Gerstein Fisher increased its position in shares of Westar Energy by 0.6% in the second quarter. Gerstein Fisher now owns 6,255 shares of the company’s stock worth $351,000 after buying an additional 38 shares during the period. IBM Retirement Fund increased its position in shares of Westar Energy by 0.3% in the second quarter. IBM Retirement Fund now owns 14,295 shares of the company’s stock worth $802,000 after buying an additional 42 shares during the period. Finally, Atwood & Palmer Inc. increased its position in shares of Westar Energy by 3.3% in the second quarter. Atwood & Palmer Inc. now owns 2,050 shares of the company’s stock worth $115,000 after buying an additional 66 shares during the period. 70.51% of the stock is owned by institutional investors and hedge funds.
Westar Energy Inc. (NYSE:WR) traded down 0.26% on Wednesday, hitting $56.96. The stock had a trading volume of 2,328,447 shares. The firm has a 50-day moving average of $56.96 and a 200 day moving average of $55.68. Westar Energy Inc. has a 52 week low of $40.00 and a 52 week high of $57.49. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 24.48 and a beta of 0.38.
Westar Energy (NYSE:WR) last released its quarterly earnings results on Tuesday, November 1st. The company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.05. Westar Energy had a return on equity of 8.91% and a net margin of 13.27%. The company had revenue of $764.65 million for the quarter. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts predict that Westar Energy Inc. will post $2.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Wednesday, December 7th. Westar Energy’s payout ratio is 65.24%.
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Separately, Zacks Investment Research upgraded Westar Energy from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $55.20.
About Westar Energy
Westar Energy, Inc (Westar Energy) is an electric utility in Kansas. The Company provides electric generation, transmission and distribution services to approximately 700,000 customers in Kansas. The Company provides these services in central and northeastern Kansas, including the cities of Topeka, Lawrence, Manhattan, Salina and Hutchinson.
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