Todays Report: Today, M&T Bank Corp Sold shares of Westar Energy Inc. (WR)

Today, M&T Bank Corp Sold shares of Westar Energy Inc. (WR)

M&T Bank Corp cut its stake in Westar Energy Inc. (NYSE:WR) by 15.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 106,186 shares of the company’s stock after selling 19,527 shares during the period. M&T Bank Corp owned approximately 0.07% of Westar Energy worth $6,025,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Retirement Planning Group boosted its stake in shares of Westar Energy by 0.5% in the third quarter. Retirement Planning Group now owns 4,467 shares of the company’s stock valued at $254,000 after buying an additional 23 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Westar Energy by 0.3% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,847 shares of the company’s stock valued at $558,000 after buying an additional 32 shares during the period. Gerstein Fisher boosted its stake in shares of Westar Energy by 0.6% in the second quarter. Gerstein Fisher now owns 6,255 shares of the company’s stock valued at $351,000 after buying an additional 38 shares during the period. IBM Retirement Fund boosted its stake in shares of Westar Energy by 0.3% in the second quarter. IBM Retirement Fund now owns 14,295 shares of the company’s stock valued at $802,000 after buying an additional 42 shares during the period. Finally, Atwood & Palmer Inc. boosted its stake in shares of Westar Energy by 3.3% in the second quarter. Atwood & Palmer Inc. now owns 2,050 shares of the company’s stock valued at $115,000 after buying an additional 66 shares during the period. 65.81% of the stock is currently owned by institutional investors.

Shares of Westar Energy Inc. (NYSE:WR) traded up 0.18% during trading on Friday, reaching $57.08. The company had a trading volume of 559,359 shares. Westar Energy Inc. has a 1-year low of $40.00 and a 1-year high of $57.49. The firm has a 50-day moving average of $56.90 and a 200 day moving average of $55.52. The firm has a market capitalization of $8.09 billion, a PE ratio of 24.53 and a beta of 0.38.

Westar Energy (NYSE:WR) last announced its earnings results on Tuesday, November 1st. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.05. The company had revenue of $764.65 million for the quarter. Westar Energy had a return on equity of 8.91% and a net margin of 13.27%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 EPS. Analysts expect that Westar Energy Inc. will post $2.46 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 9th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.67%. Westar Energy’s payout ratio is 65.24%.

Separately, Zacks Investment Research upgraded Westar Energy from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $55.20.

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