Water Island Capital adds Westar Energy Inc (WR) to its portfolio

Westar Energy Inc (WR) : Water Island Capital added new position in Westar Energy Inc during the most recent quarter end. The investment management firm now holds 700,100 shares of Westar Energy Inc which is valued at $37,420,345 , the company said in a statement filed on Aug 15, 2016 with the SEC.Westar Energy Inc makes up approximately 2.53% of Water Island Capital’s portfolio.

Other Hedge Funds, Including , Aqr Capital Management boosted its stake in WR in the latest quarter, The investment management firm added 52,428 additional shares and now holds a total of 308,303 shares of Westar Energy Inc which is valued at $16,478,795. Westar Energy Inc makes up approx 0.03% of Aqr Capital Management’s portfolio.Blackrock Advisors reduced its stake in WR by selling 56,877 shares or 20.1% in the most recent quarter. The Hedge Fund company now holds 226,075 shares of WR which is valued at $12,083,709. Westar Energy Inc makes up approx 0.01% of Blackrock Advisors’s portfolio. Chicago Partners Investment Group added WR to its portfolio by purchasing 2,600 company shares during the most recent quarter which is valued at $139,412. Westar Energy Inc makes up approx 0.06% of Chicago Partners Investment Group’s portfolio.Proficio Capital Partners boosted its stake in WR in the latest quarter, The investment management firm added 85 additional shares and now holds a total of 126 shares of Westar Energy Inc which is valued at $7,002.

Westar Energy Inc opened for trading at $55.16 and hit $55.55 on the upside on Wednesday, eventually ending the session at $55.02, with a gain of 0.22% or 0.12 points. The heightened volatility saw the trading volume jump to 510,863 shares. Company has a market cap of $7,798 M.

On the company’s financial health, Westar Energy Inc reported $0.51 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.53. The company had revenue of $621.45 million for the quarter, compared to analysts expectations of $639.24 million. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 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.

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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