Dynamic Technology Lab Private Ltd Has $269,000 Position in Westar Energy, Inc. (WR)
Dynamic Technology Lab Private Ltd lifted its position in Westar Energy, Inc. (NYSE:WR) by 18.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,089 shares of the utilities provider’s stock after purchasing an additional 789 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Westar Energy were worth $269,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. D.A. Davidson & CO. grew its holdings in shares of Westar Energy by 6.6% in the second quarter. D.A. Davidson & CO. now owns 3,240 shares of the utilities provider’s stock valued at $171,000 after purchasing an additional 202 shares during the period. V Wealth Management LLC purchased a new stake in shares of Westar Energy in the second quarter valued at about $187,000. Retirement Planning Group grew its holdings in shares of Westar Energy by 0.6% in the second quarter. Retirement Planning Group now owns 4,540 shares of the utilities provider’s stock valued at $241,000 after purchasing an additional 26 shares during the period. Harbour Capital Advisors LLC grew its holdings in shares of Westar Energy by 5,201.9% in the second quarter. Harbour Capital Advisors LLC now owns 14,209 shares of the utilities provider’s stock valued at $268,000 after purchasing an additional 13,941 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Westar Energy by 115.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,368 shares of the utilities provider’s stock valued at $285,000 after purchasing an additional 2,882 shares during the period. 73.50% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Larry D. Irick sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $51.17, for a total transaction of $511,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony D. Somma sold 2,500 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $51.07, for a total value of $127,675.00. The disclosure for this sale can be found here. Insiders sold a total of 31,500 shares of company stock valued at $1,611,715 in the last 90 days. 0.70% of the stock is owned by company insiders.
Several brokerages have weighed in on WR. Evercore ISI raised shares of Westar Energy from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $49.00 to $53.00 in a research note on Tuesday, July 11th. Zacks Investment Research lowered shares of Westar Energy from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. J P Morgan Chase & Co raised shares of Westar Energy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $32.00 to $53.00 in a research note on Tuesday, July 11th. BidaskClub lowered shares of Westar Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Wolfe Research began coverage on shares of Westar Energy in a research note on Wednesday, July 26th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Westar Energy has an average rating of “Buy” and an average price target of $55.75.
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Westar Energy, Inc. (NYSE WR) opened at 53.43 on Tuesday. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 22.45 and a beta of 0.39. The firm’s 50-day moving average is $51.31 and its 200 day moving average is $51.76. Westar Energy, Inc. has a 52 week low of $49.20 and a 52 week high of $57.50.
Westar Energy (NYSE:WR) last posted its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.06). The business had revenue of $609.32 million during the quarter, compared to analysts’ expectations of $633.96 million. Westar Energy had a net margin of 13.33% and a return on equity of 8.87%. During the same quarter last year, the firm earned $0.51 EPS. On average, equities research analysts expect that Westar Energy, Inc. will post $2.48 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Thursday, September 7th. Westar Energy’s dividend payout ratio (DPR) is 67.23%.
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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