Gabelli Funds Llc increased its stake in Westar Energy Inc (WR) by 2.6% based on its latest 2016Q3 regulatory filing with the SEC. Gabelli Funds Llc bought 61,975 shares as the company’s stock rose 0.87% with the market. The institutional investor held 2.45 million shares of the public utilities company at the end of 2016Q3, valued at $138.88 million, up from 2.39 million at the end of the previous reported quarter. Gabelli Funds Llc who had been investing in Westar Energy Inc for a number of months, seems to be bullish on the $7.87 billion market cap company. The stock is up 1.25% or $0.68 after the positive news, hitting $55.26 per share. About 461,694 shares traded hands. Westar Energy Inc (NYSE:WR) has declined 1.96% since June 7, 2016 and is downtrending. It has underperformed by 9.38% the S&P500.
Gabelli Funds Llc, which manages about $25.90B and $16.85 billion US Long portfolio, decreased its stake in Tahoe Res Inc Com (NYSE:TAHO) by 399,800 shares to 995,200 shares, valued at $12.77 million in 2016Q3, according to the filing. It also reduced its holding in Diebold Inc Com (NYSE:DBD) by 132,600 shares in the quarter, leaving it with 1.69M shares, and cut its stake in Amgen Inc (NASDAQ:AMGN).
Gabelli Funds Llc is a New York-based institutional investor with more than $25.90 billion AUM in March, 2014. Taken from Gabelli Funds latest Adv, the fund reported to have 39 full and part-time employees. Among which 18 performing investment advisory and research functions. The institutional investor had between 26-100 clients.
Insitutional Activity: The institutional sentiment decreased to 0.94 in Q3 2016. Its down 0.25, from 1.19 in 2016Q2. The ratio is negative, as 38 funds sold all WR shares owned while 122 reduced positions. 37 funds bought stakes while 114 increased positions. They now own 94.87 million shares or 0.52% less from 95.36 million shares in 2016Q2. Pnc Fincl has 8,384 shares for 0% of their US portfolio. Btg Pactual Global Asset Mngmt, a Bermuda-based fund reported 17,362 shares. Kanaly Tru has invested 0% of its portfolio in Westar Energy Inc (NYSE:WR). Blackrock Lc holds 0.01% or 209,218 shares in its portfolio. Bank & Trust Of Montreal Can has 9,817 shares for 0% of their US portfolio. Blackrock Invest Limited Co holds 0.03% of its portfolio in Westar Energy Inc (NYSE:WR) for 435,611 shares. Blackrock Fund Advsr, a California-based fund reported 5.51M shares. Neuberger Berman Group Inc Lc last reported 0% of its portfolio in the stock. Renaissance Techs Ltd last reported 421,600 shares in the company. Capstone Advisors Limited Liability Company owns 42,725 shares or 0.05% of their US portfolio. Manufacturers Life The, a Ontario – Canada-based fund reported 195,048 shares. Comerica Financial Bank reported 102,077 shares or 0.05% of all its holdings. Ls Advsrs Limited has 0.06% invested in the company for 13,481 shares. Profund Advsrs Limited Company holds 0.09% of its portfolio in Westar Energy Inc (NYSE:WR) for 31,596 shares. Credit Suisse Ag, a Switzerland-based fund reported 590,292 shares.
More news for Westar Energy Inc (NYSE:WR) were recently published by: Forbes.com, which released: “Westar Energy Stock Getting Very Oversold” on January 05, 2017. Seekingalpha.com‘s article titled: “How To Play The Westar Energy Sale” and published on December 15, 2016 is yet another important article.
According to Zacks Investment Research, “Westar Energy, Inc. is Kansas’ largest electric utility. Westar has 7,200 MW of electric generation capacity fueled by coal, uranium, natural gas, wind and landfill gas. They are a leader in electric transmission in Kansas. Their innovative customer service programs include mobile-enabled customer care, digital meters and paving the way for electric vehicle adoption.”
Westar Energy Inc (NYSE:WR) Ratings Coverage
Out of 7 analysts covering Westar Energy (NYSE:WR), 0 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 0 are positive. Westar Energy has been the topic of 12 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Wednesday, June 1 by Gabelli. The company was maintained on Tuesday, October 13 by Argus Research. The firm has “Neutral” rating given on Wednesday, June 1 by Mizuho. UBS maintained Westar Energy Inc (NYSE:WR) on Thursday, October 8 with “Neutral” rating. The rating was maintained by JP Morgan with “Neutral” on Friday, March 11. The rating was maintained by Barclays Capital with “Equalweight” on Thursday, June 2. Mizuho initiated the stock with “Buy” rating in Monday, March 14 report. The rating was upgraded by JP Morgan to “Neutral” on Friday, November 6. The stock of Westar Energy Inc (NYSE:WR) has “Hold” rating given on Friday, April 15 by Argus Research. The firm has “Sell” rating by Zacks given on Tuesday, August 11.
WR Company Profile
Westar Energy, Inc. (Westar Energy), incorporated on March 6, 1924, is an electric utility in Kansas. The Firm provides electric generation, transmission and distribution services to approximately 700,000 clients in Kansas. The Firm 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 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 Firm supplies electric energy at retail to clients in Kansas. The Firm also supplies electric energy at wholesale to municipalities and electric cooperatives in Kansas, and has contracts for the sale or purchase of wholesale electricity with other utilities. The Firm classifies it clients as residential, commercial and industrial. It has approximately 6,270 megawatts (MW) of generating capacity in service.
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