First PREMIER Bank Sells 1,919 Shares of Westar Energy Inc (WR)
First PREMIER Bank decreased its holdings in shares of Westar Energy Inc (NYSE:WR) by 5.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 35,290 shares of the utilities provider’s stock after selling 1,919 shares during the period. Westar Energy makes up 1.3% of First PREMIER Bank’s holdings, making the stock its 23rd largest position. First PREMIER Bank’s holdings in Westar Energy were worth $1,863,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Westar Energy by 19.3% in the 2nd quarter. BlackRock Inc. now owns 16,587,206 shares of the utilities provider’s stock valued at $879,454,000 after buying an additional 2,679,597 shares during the period. Vanguard Group Inc. grew its holdings in shares of Westar Energy by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 12,610,777 shares of the utilities provider’s stock valued at $668,624,000 after buying an additional 186,563 shares during the period. CNH Partners LLC grew its holdings in shares of Westar Energy by 8.2% in the 2nd quarter. CNH Partners LLC now owns 3,428,377 shares of the utilities provider’s stock valued at $181,773,000 after buying an additional 260,631 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Westar Energy by 0.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,314,200 shares of the utilities provider’s stock valued at $122,699,000 after buying an additional 18,900 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Westar Energy by 20.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,249,977 shares of the utilities provider’s stock valued at $112,184,000 after buying an additional 379,131 shares during the period. Institutional investors own 73.63% of the company’s stock.
WR has been the subject of several research analyst reports. JPMorgan Chase & Co. set a $58.00 price target on shares of Westar Energy and gave the company a “buy” rating in a report on Thursday, October 12th. Bank of America initiated coverage on shares of Westar Energy in a report on Tuesday, October 24th. They issued a “buy” rating and a $57.00 price target for the company. Zacks Investment Research raised shares of Westar Energy from a “sell” rating to a “hold” rating in a report on Saturday, September 23rd. Finally, Wells Fargo & Co raised shares of Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 price target for the company in a report on Monday, October 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Westar Energy currently has a consensus rating of “Buy” and an average price target of $55.75.
Westar Energy (NYSE:WR) last announced its earnings results on Tuesday, October 31st. The utilities provider reported $1.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.09). The company had revenue of $794.33 million during the quarter, compared to analyst estimates of $773.96 million. Westar Energy had a return on equity of 8.94% and a net margin of 13.32%. Westar Energy’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. analysts expect that Westar Energy Inc will post 2.45 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 8th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend was Thursday, December 7th. Westar Energy’s payout ratio is presently 66.39%.
In related news, VP Larry D. Irick sold 5,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $54.38, for a total value of $271,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Greg A. Greenwood sold 8,100 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $53.92, for a total transaction of $436,752.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,100 shares of company stock valued at $2,991,312. Company insiders own 0.70% of the company’s stock.
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About Westar Energy
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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