Kassirer Asset Management Corp purchased a new stake in shares of Westar Energy Inc. (NYSE:WR) during the second quarter, Holdings Channel reports. The institutional investor purchased 30,000 shares of the company’s stock, valued at approximately $1,683,000.
Other large investors have also made changes to their positions in the company. BlackRock Fund Advisors boosted its position in shares of Westar Energy by 1.5% in the first quarter. BlackRock Fund Advisors now owns 4,973,120 shares of the company’s stock worth $246,716,000 after buying an additional 72,979 shares during the last quarter. State Street Corp boosted its position in Westar Energy by 0.6% in the first quarter. State Street Corp now owns 3,702,478 shares of the company’s stock worth $183,680,000 after buying an additional 21,456 shares in the last quarter. Wellington Management Group LLP boosted its position in Westar Energy by 45.3% in the first quarter. Wellington Management Group LLP now owns 1,338,545 shares of the company’s stock worth $66,405,000 after buying an additional 417,518 shares in the last quarter. Norges Bank acquired a new position in Westar Energy during the fourth quarter worth about $47,139,000. Finally, Renaissance Technologies LLC boosted its position in Westar Energy by 5.1% in the first quarter. Renaissance Technologies LLC now owns 928,800 shares of the company’s stock worth $46,078,000 after buying an additional 45,100 shares in the last quarter. 69.86% of the stock is owned by institutional investors and hedge funds.
Shares of Westar Energy Inc. (NYSE:WR) traded up 0.11% during mid-day trading on Thursday, hitting $56.73. The stock had a trading volume of 426,436 shares. Westar Energy Inc. has a 12 month low of $37.55 and a 12 month high of $57.25. The stock has a market cap of $8.04 billion, a P/E ratio of 25.66 and a beta of 0.33. The firm has a 50 day moving average price of $54.96 and a 200-day moving average price of $53.54.
Westar Energy (NYSE:WR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by $0.02. Westar Energy had a net margin of 12.76% and a return on equity of 8.55%. The firm had revenue of $621.45 million for the quarter, compared to analysts’ expectations of $639.24 million. During the same period in the prior year, the company earned $0.47 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Westar Energy Inc. will post $2.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 2.68%. Westar Energy’s dividend payout ratio (DPR) is 68.47%.
WR has been the topic of a number of recent analyst reports. Barclays PLC lifted their target price on Westar Energy from $45.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, June 2nd. Gabelli cut Westar Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, June 1st. Finally, Mizuho cut Westar Energy from a “buy” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research report on Wednesday, June 1st. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $53.00.
Westar Energy Company Profile
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.
Want to see what other hedge funds are holding WR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Westar Energy Inc. (NYSE:WR).
Receive News & Ratings for Westar Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westar Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.