First Premier Bank Lowers stake in Westar Energy Inc (WR)

Westar Energy Inc (WR) : First Premier Bank reduced its stake in Westar Energy Inc by 1.0% during the most recent quarter end. The investment management company now holds a total of 41,164 shares of Westar Energy Inc which is valued at $2,322,473 after selling 414 shares in Westar Energy Inc , the firm said in a disclosure report filed with the SEC on Jul 6, 2016.Westar Energy Inc makes up approximately 1.76% of First Premier Bank’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in WR in the latest quarter, The investment management firm added 74,785 additional shares and now holds a total of 76,808 shares of Westar Energy Inc which is valued at $4,333,507. Westar Energy Inc makes up approx 0.02% of Bnp Paribas Arbitrage Sa’s portfolio.Integrated Investment Consultants reduced its stake in WR by selling 1,000 shares or 33.86% in the most recent quarter. The Hedge Fund company now holds 1,953 shares of WR which is valued at $109,915. Westar Energy Inc makes up approx 0.06% of Integrated Investment Consultants’s portfolio.

Westar Energy Inc closed down -0.03 points or -0.05% at $56.39 with 6,70,546 shares getting traded on Monday. Post opening the session at $56.35, the shares hit an intraday low of $56.06 and an intraday high of $56.4 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Westar Energy Inc reported $0.46 EPS for the quarter, based on the information available during the earnings call on May 3, 2016. Analyst had a consensus estimate of $0.46. The company had revenue of $569.45 million for the quarter, compared to analysts expectations of $630.86 million. The company’s revenue was down -3.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.38 EPS.

Many Wall Street Analysts have commented on Westar Energy Inc. Mizuho Downgraded Westar Energy Inc on Jun 1, 2016 to ” Neutral”, Price Target of the shares are set at $60.Westar Energy Inc was Downgraded by Gabelli & Co to ” Hold” on Jun 1, 2016. Company shares were Reiterated by Barclays on Apr 22, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 45 from a previous price target of $43 .

Westar Energy Inc. (Westar Energy) is an electric utility in Kansas. The Company provides electric generation transmission and distribution services to approximately 693000 customers in Kansas. The Company provides these services in central and northeastern Kansas including the cities of Topeka Lawrence Manhattan Salina and Hutchinson. Kansas Gas and Electric Company (KGE) Westar Energy’s wholly owned subsidiary provides the services in south-central and southeastern Kansas including the city of Wichita. Both Westar Energy and KGE conduct business using the name Westar Energy. The Company supplies electric energy at retail to customers in Kansas. The Company also supplies electric energy at wholesale to municipalities and electric cooperatives in Kansas. The Company classifies it customer as residential commercial and industrial. It has around 6645 megawatts (MW) of generating capacity in service. Its installed wind power generation capacity is around 515 MW.

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