M&T Bank Corp cut its position in Westar Energy Inc (NYSE:WR) by 2.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 126,947 shares of the utilities provider’s stock after selling 3,037 shares during the period. M&T Bank Corp’s holdings in Westar Energy were worth $6,890,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the company. Washington Trust Bank boosted its position in shares of Westar Energy by 792.5% in the first quarter. Washington Trust Bank now owns 2,365 shares of the utilities provider’s stock worth $128,000 after buying an additional 2,100 shares during the period. Trust Co. of Vermont boosted its position in shares of Westar Energy by 22.5% in the first quarter. Trust Co. of Vermont now owns 2,450 shares of the utilities provider’s stock worth $133,000 after buying an additional 450 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Westar Energy by 1.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,486 shares of the utilities provider’s stock worth $135,000 after buying an additional 46 shares during the period. Advisory Services Network LLC bought a new position in shares of Westar Energy during the first quarter worth approximately $139,000. Finally, Advantage Investment Management LLC bought a new position in shares of Westar Energy during the first quarter worth approximately $142,000. Hedge funds and other institutional investors own 70.02% of the company’s stock.
Shares of Westar Energy Inc (NYSE:WR) traded up 0.41% during midday trading on Friday, hitting $51.90. The company had a trading volume of 468,704 shares. The company has a market capitalization of $7.37 billion, a PE ratio of 21.72 and a beta of 0.38. Westar Energy Inc has a 12 month low of $50.35 and a 12 month high of $57.50. The company has a 50-day moving average of $52.88 and a 200-day moving average of $54.77.
Westar Energy (NYSE:WR) last posted its quarterly earnings results on Wednesday, February 22nd. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by $0.04. The company had revenue of $606.53 million during the quarter, compared to analysts’ expectations of $578.83 million. Westar Energy had a net margin of 13.27% and a return on equity of 8.91%. Westar Energy’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. Analysts predict that Westar Energy Inc will post $2.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 9th will be given a $0.40 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.08%. Westar Energy’s dividend payout ratio (DPR) is presently 65.24%.
Separately, Zacks Investment Research upgraded Westar Energy from a “sell” rating to a “hold” rating in a report on Saturday, April 22nd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $61.33.
In other news, SVP Jerl L. Banning sold 1,850 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $54.61, for a total value of $101,028.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.
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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