Meritage Portfolio Management Lowers stake in Westar Energy Inc (WR)

Westar Energy Inc (WR) : Meritage Portfolio Management reduced its stake in Westar Energy Inc by 0.74% during the most recent quarter end. The investment management company now holds a total of 107,626 shares of Westar Energy Inc which is valued at $5,395,291 after selling 800 shares in Westar Energy Inc , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Westar Energy Inc makes up approximately 0.61% of Meritage Portfolio Management’s portfolio.

Westar Energy Inc opened for trading at $50.57 and hit $51.2101 on the upside on Wednesday, eventually ending the session at $50.98, with a gain of 0.81% or 0.41 points. The heightened volatility saw the trading volume jump to 9,09,070 shares. Company has a market cap of $7,220 M.

Other Hedge Funds, Including , Old Second National Bank Of Aurora boosted its stake in WR in the latest quarter, The investment management firm added 231 additional shares and now holds a total of 43,342 shares of Westar Energy Inc which is valued at $2,172,734. Westar Energy Inc makes up approx 1.02% of Old Second National Bank Of Aurora’s portfolio. Integrated Investment Consultants added WR to its portfolio by purchasing 2,953 company shares during the most recent quarter which is valued at $149,422. Westar Energy Inc makes up approx 0.08% of Integrated Investment Consultants’s portfolio. Lenox Wealth Advisors sold out all of its stake in WR during the most recent quarter. The investment firm sold 51 shares of WR which is valued $2,581.

On the company’s financial health, Westar Energy Inc reported $0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Feb 24, 2016. Analyst had a consensus of $0.36. The company had revenue of $546.00 million for the quarter, compared to analysts expectations of $634.59 million. The company’s revenue was down -8.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on Westar Energy Inc. 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 .Mizuho Initiated Westar Energy Inc on Mar 14, 2016 to “Buy”, Price Target of the shares are set at $55.Westar Energy Inc was Downgraded by Wells Fargo to ” Market Perform” on Feb 26, 2016.

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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