Amalgamated Bank Purchases 5,459 Shares of Westar Energy, Inc. (WR)
Amalgamated Bank increased its position in shares of Westar Energy, Inc. (NYSE:WR) by 24.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,891 shares of the utilities provider’s stock after acquiring an additional 5,459 shares during the period. Amalgamated Bank’s holdings in Westar Energy were worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. V Wealth Management LLC purchased a new stake in shares of Westar Energy during the second quarter worth $187,000. MAI Capital Management purchased a new stake in shares of Westar Energy during the first quarter worth $218,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Westar Energy during the first quarter worth $233,000. Sii Investments Inc. WI raised its holdings in shares of Westar Energy by 4.9% during the first quarter. Sii Investments Inc. WI now owns 4,495 shares of the utilities provider’s stock worth $242,000 after acquiring an additional 211 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Westar Energy during the first quarter worth $246,000. Institutional investors and hedge funds own 73.65% of the company’s stock.
Westar Energy, Inc. (WR) opened at 50.12 on Friday. Westar Energy, Inc. has a 52-week low of $49.21 and a 52-week high of $57.50. The firm’s 50-day moving average is $51.12 and its 200 day moving average is $52.40. The firm has a market capitalization of $7.12 billion, a P/E ratio of 21.06 and a beta of 0.41.
Westar Energy (NYSE:WR) last issued its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.06). Westar Energy had a return on equity of 8.87% and a net margin of 13.33%. The business had revenue of $609.32 million for the quarter, compared to the consensus estimate of $633.96 million. During the same period last year, the firm earned $0.51 earnings per share. Equities analysts anticipate that Westar Energy, Inc. will post $2.50 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.60 annualized dividend and a yield of 3.19%. Westar Energy’s dividend payout ratio (DPR) is presently 67.23%.
In other Westar Energy news, CFO Anthony D. Somma sold 4,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $51.21, for a total transaction of $204,840.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Greg A. Greenwood sold 10,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $51.00, for a total transaction of $510,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 31,500 shares of company stock worth $1,611,715 over the last three months. Insiders own 0.61% of the company’s stock.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded Westar Energy from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Tuesday, June 20th. BidaskClub raised shares of Westar Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Evercore ISI raised shares of Westar Energy from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $49.00 to $53.00 in a research report on Tuesday, July 11th. J P Morgan Chase & Co raised shares of Westar Energy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $32.00 to $53.00 in a research report on Tuesday, July 11th. Finally, Wolfe Research started coverage on shares of Westar Energy in a research report on Wednesday, July 26th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $55.33.
Westar Energy 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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