Castleton Investment Management LLC Buys New Holdings in Westar Energy Inc (WR)
Castleton Investment Management LLC bought a new position in Westar Energy Inc (NYSE:WR) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 208,744 shares of the utilities provider’s stock, valued at approximately $10,354,000. Westar Energy makes up approximately 3.8% of Castleton Investment Management LLC’s investment portfolio, making the stock its 9th largest holding. Castleton Investment Management LLC owned about 0.15% of Westar Energy as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of WR. Harbour Capital Advisors LLC increased its holdings in shares of Westar Energy by 5,201.9% in the 2nd quarter. Harbour Capital Advisors LLC now owns 14,209 shares of the utilities provider’s stock worth $268,000 after purchasing an additional 13,941 shares in the last quarter. Rothschild Asset Management Inc. increased its holdings in shares of Westar Energy by 83.5% in the 2nd quarter. Rothschild Asset Management Inc. now owns 54,572 shares of the utilities provider’s stock worth $2,893,000 after purchasing an additional 24,828 shares in the last quarter. World Asset Management Inc increased its holdings in shares of Westar Energy by 1.3% in 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 in the last quarter. IFP Advisors Inc increased its holdings in shares of Westar Energy by 15.3% in the 2nd quarter. IFP Advisors Inc now owns 10,877 shares of the utilities provider’s stock worth $577,000 after purchasing an additional 1,441 shares in the last quarter. Finally, Tdam USA Inc. grew its holdings in shares of Westar Energy by 8.7% in the second quarter. Tdam USA Inc. now owns 11,743 shares of the utilities provider’s stock worth $625,000 after acquiring an additional 940 shares during the period. 73.66% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Mark A. Ruelle sold 37,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $54.35, for a total value of $2,010,950.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Greg A. Greenwood sold 8,100 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $53.92, for a total value of $436,752.00. The disclosure for this sale can be found here. In the last three months, insiders sold 55,100 shares of company stock worth $2,991,312. 0.70% of the stock is owned by insiders.
Several analysts recently commented on the company. Zacks Investment Research raised Westar Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 28th. Bank of America assumed coverage on Westar Energy in a report on Tuesday, October 24th. They issued a “buy” rating and a $57.00 price objective for the company. J P Morgan Chase & Co set a $58.00 price objective on Westar Energy and gave the stock a “buy” rating in a report on Thursday, October 12th. Finally, Wells Fargo & Company raised Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a report on Monday, October 2nd. 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 currently has an average rating of “Buy” and an average price target of $55.75.
Shares of Westar Energy Inc (NYSE:WR) traded down $0.15 during midday trading on Wednesday, reaching $56.39. The company’s stock had a trading volume of 672,900 shares, compared to its average volume of 766,983. The company has a quick ratio of 0.65, a current ratio of 1.07 and a debt-to-equity ratio of 0.97. Westar Energy Inc has a 52 week low of $49.20 and a 52 week high of $57.50. The company has a market capitalization of $8,034.01, a PE ratio of 23.46, a P/E/G ratio of 6.81 and a beta of 0.42.
Westar Energy (NYSE:WR) last released its earnings results on Tuesday, October 31st. The utilities provider reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). Westar Energy had a net margin of 13.32% and a return on equity of 8.94%. The business had revenue of $794.33 million for the quarter, compared to the consensus estimate of $773.96 million. During the same period in the prior year, the company posted $1.09 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. equities analysts predict that Westar Energy Inc will post 2.45 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be paid a $0.40 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.60 annualized dividend and a yield of 2.84%. Westar Energy’s dividend payout ratio (DPR) is currently 66.39%.
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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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