Luminus Management LLC lessened its position in Westar Energy Inc (NYSE:WR) by 12.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 447,647 shares of the utilities provider’s stock after selling 65,019 shares during the period. Luminus Management LLC owned approximately 0.32% of Westar Energy worth $23,636,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. AMP Capital Investors Ltd raised its stake in shares of Westar Energy by 1.2% in the 3rd quarter. AMP Capital Investors Ltd now owns 86,890 shares of the utilities provider’s stock worth $4,310,000 after buying an additional 1,000 shares in the last quarter. MML Investors Services LLC raised its stake in shares of Westar Energy by 13.0% in the 4th quarter. MML Investors Services LLC now owns 8,731 shares of the utilities provider’s stock worth $461,000 after buying an additional 1,002 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Westar Energy by 5.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 18,854 shares of the utilities provider’s stock worth $935,000 after buying an additional 1,021 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Westar Energy by 70.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,628 shares of the utilities provider’s stock worth $138,000 after buying an additional 1,084 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Westar Energy by 1.2% in the 3rd quarter. Prudential Financial Inc. now owns 90,083 shares of the utilities provider’s stock worth $4,468,000 after buying an additional 1,104 shares in the last quarter. 74.66% of the stock is currently owned by institutional investors.
Shares of Westar Energy Inc (NYSE:WR) opened at $49.75 on Monday. The stock has a market capitalization of $7,076.09, a price-to-earnings ratio of 21.92, a PEG ratio of 4.97 and a beta of 0.41. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. Westar Energy Inc has a 52-week low of $47.06 and a 52-week high of $57.32.
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 issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.22%. Westar Energy’s dividend payout ratio is 70.48%.
WR has been the topic of a number of research reports. Zacks Investment Research raised Westar Energy from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Sunday, January 21st. JPMorgan Chase & Co. cut their target price on Westar Energy from $62.00 to $56.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. TheStreet lowered Westar Energy from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. Finally, UBS Group started coverage on Westar Energy in a research report on Friday, February 2nd. They set a “neutral” rating and a $55.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.50.
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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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