Yakira Capital Management adds Westar Energy Inc (WR) to its portfolio

Westar Energy Inc (WR) : Yakira Capital Management added new position in Westar Energy Inc during the most recent quarter end. The investment management firm now holds 78,700 shares of Westar Energy Inc which is valued at $4,206,515 , the company said in a statement filed on Aug 11, 2016 with the SEC.Westar Energy Inc makes up approximately 1.60% of Yakira Capital Management’s portfolio.

Other Hedge Funds, Including , United Services Automobile Association sold out all of its stake in WR during the most recent quarter. The investment firm sold 148,000 shares of WR which is valued $7,910,600. Mesirow Financial Investment Management – Equity Management sold out all of its stake in WR during the most recent quarter. The investment firm sold 27,192 shares of WR which is valued $1,458,035.Msi Financial Services Inc reduced its stake in WR by selling 927 shares or 64.29% in the most recent quarter. The Hedge Fund company now holds 515 shares of WR which is valued at $28,583.

Westar Energy Inc opened for trading at $54.2 and hit $54.67 on the upside on Tuesday, eventually ending the session at $54.49, with a gain of 0.28% or 0.15 points. The heightened volatility saw the trading volume jump to 4,11,242 shares. Company has a market cap of $7,723 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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