Westar Energy, Inc. (WR) Shares Sold by California State Teachers Retirement System
California State Teachers Retirement System lowered its holdings in shares of Westar Energy, Inc. (NYSE:WR) by 9.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 261,417 shares of the utilities provider’s stock after selling 28,236 shares during the period. California State Teachers Retirement System owned 0.18% of Westar Energy worth $13,861,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of WR. Prudential Financial Inc. boosted its holdings in shares of Westar Energy by 6.6% during the first quarter. Prudential Financial Inc. now owns 88,299 shares of the utilities provider’s stock worth $4,792,000 after acquiring an additional 5,500 shares during the period. OppenheimerFunds Inc. boosted its holdings in shares of Westar Energy by 27.4% during the first quarter. OppenheimerFunds Inc. now owns 11,687 shares of the utilities provider’s stock worth $634,000 after acquiring an additional 2,515 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Westar Energy by 13.0% during the first quarter. Wellington Management Group LLP now owns 220,512 shares of the utilities provider’s stock worth $11,967,000 after acquiring an additional 25,333 shares during the period. FMR LLC boosted its holdings in shares of Westar Energy by 149.4% during the first quarter. FMR LLC now owns 893,611 shares of the utilities provider’s stock worth $48,496,000 after acquiring an additional 535,309 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Westar Energy by 2.7% during the first quarter. PNC Financial Services Group Inc. now owns 8,409 shares of the utilities provider’s stock worth $456,000 after acquiring an additional 221 shares during the period. Institutional investors and hedge funds own 73.65% of the company’s stock.
Shares of Westar Energy, Inc. (NYSE:WR) opened at 52.94 on Friday. The stock’s 50 day moving average price is $50.88 and its 200-day moving average price is $51.86. Westar Energy, Inc. has a one year low of $49.20 and a one year high of $57.50. The company has a market cap of $7.52 billion, a PE ratio of 22.24 and a beta of 0.39.
Westar Energy (NYSE:WR) last released its earnings results on Tuesday, August 8th. The utilities provider reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.06). Westar Energy had a net margin of 13.33% and a return on equity of 8.87%. The company had revenue of $609.32 million for the quarter, compared to the consensus estimate of $633.96 million. During the same period in the prior year, the company earned $0.51 earnings per share. On average, analysts expect that Westar Energy, Inc. will post $2.50 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend was Thursday, September 7th. Westar Energy’s dividend payout ratio (DPR) is presently 67.23%.
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A number of equities research analysts have recently issued reports on WR shares. Zacks Investment Research upgraded Westar Energy from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. BidaskClub upgraded Westar Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Wells Fargo & Co upgraded Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a report on Monday, October 2nd. Evercore ISI upgraded Westar Energy from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $49.00 to $53.00 in a report on Tuesday, July 11th. Finally, J P Morgan Chase & Co set a $58.00 price objective on Westar Energy and gave the stock a “buy” rating in a report on Thursday, October 12th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $55.33.
In related news, CFO Anthony D. Somma sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $51.07, for a total value of $127,675.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Larry D. Irick sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $51.17, for a total transaction of $511,700.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,500 shares of company stock valued at $1,611,715. 0.70% of the stock is owned by insiders.
Westar Energy Company 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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