UBS Asset Management Americas Inc. Boosts Position in Westar Energy Inc. (WR)
UBS Asset Management Americas Inc. raised its stake in shares of Westar Energy Inc. (NYSE:WR) by 202.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 334,510 shares of the company’s stock after buying an additional 223,866 shares during the period. UBS Asset Management Americas Inc. owned about 0.24% of Westar Energy worth $18,762,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Washington Trust Bank acquired a new stake in Westar Energy during the second quarter valued at about $110,000. Atwood & Palmer Inc. raised its stake in Westar Energy by 3.3% in the second quarter. Atwood & Palmer Inc. now owns 2,050 shares of the company’s stock valued at $115,000 after buying an additional 66 shares during the period. Global X Management Co. LLC acquired a new stake in Westar Energy during the second quarter valued at about $115,000. Advisory Services Network LLC raised its stake in Westar Energy by 4.0% in the second quarter. Advisory Services Network LLC now owns 2,600 shares of the company’s stock valued at $146,000 after buying an additional 100 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new stake in Westar Energy during the second quarter valued at about $146,000. 69.86% of the stock is currently owned by institutional investors.
Westar Energy Inc. (NYSE:WR) remained flat at $56.09 during trading on Tuesday. The company had a trading volume of 380,274 shares. The stock has a market capitalization of $7.95 billion, a P/E ratio of 25.37 and a beta of 0.33. Westar Energy Inc. has a 52 week low of $36.79 and a 52 week high of $57.25. The stock’s 50-day moving average is $54.57 and its 200-day moving average is $53.01.
Westar Energy (NYSE:WR) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $621.45 million for the quarter, compared to analysts’ expectations of $639.24 million. Westar Energy had a net margin of 12.76% and a return on equity of 8.55%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 EPS. Analysts expect that Westar Energy Inc. will post $2.45 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Wednesday, September 7th. Westar Energy’s payout ratio is presently 68.47%.
Several analysts have recently issued reports on the stock. Mizuho lowered shares of Westar Energy from a “buy” rating to a “neutral” rating and set a $60.00 price target on the stock. in a research report on Wednesday, June 1st. Bank of America Corp. reissued a “sell” rating on shares of Westar Energy in a research report on Tuesday, May 24th. Zacks Investment Research raised shares of Westar Energy from a “sell” rating to a “hold” rating in a research report on Thursday, May 26th. Gabelli lowered shares of Westar Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, June 1st. Finally, Barclays PLC boosted their price target on shares of Westar Energy from $45.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, June 2nd. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Westar Energy presently has a consensus rating of “Hold” and an average price target of $53.00.
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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