Caisse DE Depot ET Placement DU Quebec lowered its holdings in shares of Westar Energy Inc (NYSE:WR) by 32.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,574 shares of the utilities provider’s stock after selling 34,536 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Westar Energy were worth $3,726,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in WR. BlackRock Inc. raised its position 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 buying an additional 433,537 shares during the last quarter. JPMorgan Chase & Co. raised its position 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 buying an additional 379,131 shares during the last quarter. Ameriprise Financial Inc. raised its position 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 buying an additional 533,878 shares during the last quarter. Bank of New York Mellon Corp raised its position 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 buying an additional 25,378 shares during the last quarter. Finally, Citadel Advisors LLC raised its position 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 buying an additional 558,847 shares during the last quarter. 74.66% of the stock is currently owned by institutional investors.
WR has been the topic of a number of recent research reports. Zacks Investment Research raised Westar Energy from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Sunday, January 21st. JPMorgan Chase & Co. dropped 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 initiated coverage on Westar Energy in a research report on Friday, February 2nd. They issued a “neutral” rating and a $55.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Westar Energy currently has a consensus rating of “Buy” and a consensus target price of $55.50.
Westar Energy (NYSE:WR) last posted its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.16). The company had revenue of $595.00 million for the quarter, compared to analyst estimates of $642.02 million. Westar Energy had a return on equity of 8.40% and a net margin of 12.60%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.38 EPS. sell-side analysts forecast that Westar Energy Inc will post 2.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Thursday, March 8th. Westar Energy’s dividend payout ratio (DPR) is 70.48%.
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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