Aevitas Wealth Management Inc. purchased a new position in shares of Westar Energy Inc (NYSE:WR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,439 shares of the utilities provider’s stock, valued at approximately $551,000.
Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its stake in Westar Energy by 2.3% in the 4th quarter. BlackRock Inc. now owns 19,013,752 shares of the utilities provider’s stock valued at $1,003,927,000 after purchasing an additional 433,537 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in 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 purchasing an additional 379,131 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Westar Energy by 31.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,215,217 shares of the utilities provider’s stock valued at $109,878,000 after purchasing an additional 533,878 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Westar Energy by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,987,350 shares of the utilities provider’s stock valued at $98,572,000 after purchasing an additional 25,378 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in Westar Energy by 67.9% in the 4th quarter. Citadel Advisors LLC now owns 1,382,468 shares of the utilities provider’s stock valued at $72,995,000 after purchasing an additional 558,847 shares during the last quarter. 72.41% of the stock is owned by institutional investors.
Several equities analysts recently commented on WR shares. Zacks Investment Research raised shares of Westar Energy from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Sunday, January 21st. TheStreet downgraded shares of Westar Energy from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Westar Energy from $62.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Finally, UBS Group started coverage on shares of Westar Energy in a research note on Friday, February 2nd. They issued a “neutral” rating and a $55.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Westar Energy presently has a consensus rating of “Buy” and a consensus target price of $55.50.
Westar Energy (NYSE:WR) last released its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.16). The business had revenue of $595.00 million for the quarter, compared to the consensus estimate of $642.02 million. Westar Energy had a net margin of 12.60% and a return on equity of 8.40%. Westar Energy’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 EPS. sell-side analysts forecast that Westar Energy Inc will post 2.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Thursday, March 8th.
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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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