Rockland Trust Co. Reduces Position in Westar Energy, Inc. (NYSE:WR)

Rockland Trust Co. reduced its position in shares of Westar Energy, Inc. (NYSE:WR) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,559 shares of the utilities provider’s stock after selling 1,270 shares during the period. Rockland Trust Co. owned 0.10% of Westar Energy worth $7,611,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Westar Energy by 4,412.0% in the first quarter. BlackRock Inc. now owns 13,907,609 shares of the utilities provider’s stock worth $754,767,000 after buying an additional 13,599,373 shares during the period. Vanguard Group Inc. raised its position in Westar Energy by 5.2% in the first quarter. Vanguard Group Inc. now owns 12,424,214 shares of the utilities provider’s stock worth $674,263,000 after buying an additional 618,478 shares during the period. State Street Corp raised its position in Westar Energy by 1.7% in the first quarter. State Street Corp now owns 4,690,842 shares of the utilities provider’s stock worth $254,580,000 after buying an additional 79,734 shares during the period. Renaissance Technologies LLC raised its position in Westar Energy by 98.4% in the first quarter. Renaissance Technologies LLC now owns 2,295,300 shares of the utilities provider’s stock worth $124,566,000 after buying an additional 1,138,400 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Westar Energy by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 1,938,172 shares of the utilities provider’s stock worth $105,184,000 after buying an additional 69,839 shares during the period. Institutional investors own 73.47% of the company’s stock.

Shares of Westar Energy, Inc. (NYSE WR) traded up 0.24% during midday trading on Friday, reaching $51.02. 842,481 shares of the company were exchanged. Westar Energy, Inc. has a 12-month low of $49.21 and a 12-month high of $57.50. The stock has a market capitalization of $7.25 billion, a P/E ratio of 21.44 and a beta of 0.39. The company has a 50 day moving average price of $50.99 and a 200-day moving average price of $52.83.

Westar Energy (NYSE:WR) last posted its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.06. Westar Energy had a return on equity of 8.87% and a net margin of 13.33%. The business had revenue of $609.32 million during the quarter, compared to the consensus estimate of $633.96 million. During the same quarter in the previous year, the company earned $0.51 earnings per share. On average, analysts forecast that Westar Energy, Inc. will post $2.50 earnings per share for the current fiscal year.

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A number of equities analysts have recently commented on WR shares. Evercore ISI upgraded shares of Westar Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $49.00 to $53.00 in a research report on Tuesday, July 11th. Zacks Investment Research raised shares of Westar Energy from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Wednesday, June 28th. BidaskClub downgraded shares of Westar Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. J P Morgan Chase & Co raised shares of Westar Energy from a “neutral” rating to an “overweight” rating and raised their target price for the company from $32.00 to $53.00 in a research note on Tuesday, July 11th. Finally, Wolfe Research assumed coverage on shares of Westar Energy in a research note on Wednesday, July 26th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $55.33.

In other Westar Energy news, CFO Anthony D. Somma sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $51.21, for a total value of $204,840.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bruce A. Akin sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $51.50, for a total value of $257,500.00. The disclosure for this sale can be found here. Insiders sold a total of 29,000 shares of company stock valued at $1,484,040 over the last 90 days. 0.61% 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.

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

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