State Treasurer State of Michigan decreased its position in Westar Energy, Inc. (NYSE:WR) by 8.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,450 shares of the utilities provider’s stock after selling 5,100 shares during the period. State Treasurer State of Michigan’s holdings in Westar Energy were worth $2,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of WR. Retirement Planning Group grew its position in Westar Energy by 0.6% during the 2nd quarter. Retirement Planning Group now owns 4,540 shares of the utilities provider’s stock worth $241,000 after purchasing an additional 26 shares during the period. Private Advisor Group LLC grew its position in Westar Energy by 1.1% during the 2nd quarter. Private Advisor Group LLC now owns 7,236 shares of the utilities provider’s stock worth $367,000 after purchasing an additional 79 shares during the period. Utah Retirement Systems grew its position in Westar Energy by 0.4% during the 2nd quarter. Utah Retirement Systems now owns 25,891 shares of the utilities provider’s stock worth $1,373,000 after purchasing an additional 100 shares during the period. World Asset Management Inc grew its position in Westar Energy by 1.3% during the 2nd quarter. World Asset Management Inc now owns 9,619 shares of the utilities provider’s stock worth $510,000 after purchasing an additional 124 shares during the period. Finally, Capstone Asset Management Co. grew its position in Westar Energy by 1.3% during the 2nd quarter. Capstone Asset Management Co. now owns 12,252 shares of the utilities provider’s stock worth $650,000 after purchasing an additional 160 shares during the period. Institutional investors own 73.50% of the company’s stock.

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Several equities research analysts have weighed in on WR shares. J P Morgan Chase & Co set a $58.00 price target on Westar Energy and gave the stock a “buy” rating in a research report on Thursday, October 12th. Bank of America Corporation started coverage on Westar Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $57.00 price target on the stock. Zacks Investment Research downgraded Westar Energy from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. BidaskClub raised Westar Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, Wolfe Research started coverage on Westar Energy in a research report on Wednesday, July 26th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Westar Energy presently has an average rating of “Buy” and an average target price of $55.75.

Shares of Westar Energy, Inc. (NYSE:WR) opened at 53.48 on Wednesday. Westar Energy, Inc. has a 12 month low of $49.20 and a 12 month high of $57.50. The firm’s 50-day moving average price is $51.37 and its 200 day moving average price is $51.77. The firm has a market capitalization of $7.60 billion, a P/E ratio of 22.47 and a beta of 0.39.

Westar Energy (NYSE:WR) last posted its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.09). The firm had revenue of $794.33 million for the quarter, compared to analysts’ expectations of $773.96 million. Westar Energy had a return on equity of 8.87% and a net margin of 13.33%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 earnings per share. Analysts anticipate that Westar Energy, Inc. will post $2.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.60 annualized dividend and a yield of 2.99%. Westar Energy’s dividend payout ratio is currently 67.23%.

In related news, CFO Anthony D. Somma sold 2,500 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $51.07, for a total transaction of $127,675.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Greg A. Greenwood sold 10,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $51.00, for a total transaction of $510,000.00. The disclosure for this sale can be found here. Insiders have sold 31,500 shares of company stock valued at $1,611,715 over the last three months. 0.70% of the stock is currently owned by corporate insiders.

Westar Energy Company Profile

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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Institutional Ownership by Quarter for Westar Energy (NYSE:WR)

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