Suntrust Banks Inc. lowered its position in shares of Westar Energy Inc. (NYSE:WR) by 67.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,600 shares of the company’s stock after selling 24,224 shares during the period. Suntrust Banks Inc.’s holdings in Westar Energy were worth $657,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. raised its stake in Westar Energy by 346.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,230,000 shares of the company’s stock valued at $125,081,000 after buying an additional 1,730,000 shares during the last quarter. CNH Partners LLC acquired a new stake in Westar Energy during the second quarter valued at approximately $91,466,000. Citigroup Inc. raised its stake in Westar Energy by 259.7% in the second quarter. Citigroup Inc. now owns 1,227,839 shares of the company’s stock valued at $68,869,000 after buying an additional 886,497 shares during the last quarter. State Street Corp raised its stake in Westar Energy by 20.7% in the second quarter. State Street Corp now owns 4,470,466 shares of the company’s stock valued at $250,741,000 after buying an additional 767,988 shares during the last quarter. Finally, Gabelli Funds LLC raised its stake in Westar Energy by 45.7% in the second quarter. Gabelli Funds LLC now owns 2,385,200 shares of the company’s stock valued at $133,786,000 after buying an additional 748,200 shares during the last quarter. 70.47% of the stock is currently owned by hedge funds and other institutional investors.
Westar Energy Inc. (NYSE:WR) traded down 0.09% during midday trading on Thursday, hitting $55.54. 558,598 shares of the stock traded hands. The company has a market cap of $7.87 billion, a P/E ratio of 23.87 and a beta of 0.36. The company’s 50 day moving average is $56.19 and its 200-day moving average is $56.00. Westar Energy Inc. has a one year low of $40.22 and a one year high of $57.50.
Westar Energy (NYSE:WR) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.05. Westar Energy had a net margin of 13.27% and a return on equity of 8.91%. The firm had revenue of $764.65 million for the quarter. During the same quarter in the prior year, the business earned $0.97 earnings per share. Westar Energy’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts forecast that Westar Energy Inc. will post $2.45 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Friday, December 9th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, December 7th. This represents a $1.52 annualized dividend and a yield of 2.74%. Westar Energy’s dividend payout ratio is currently 65.24%.
Separately, Zacks Investment Research raised shares of Westar Energy from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $57.00.
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.
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