Wolfe Research initiated coverage on shares of Westar Energy, Inc. (NYSE:WR) in a note issued to investors on Wednesday, The Fly reports. The brokerage set an “outperform” rating on the utilities provider’s stock.

Several other equities research analysts also recently weighed in on WR. Zacks Investment Research raised Westar Energy from a “sell” rating to a “hold” rating in a report on Saturday, April 8th. J P Morgan Chase & Co raised Westar Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $53.00 in a report on Tuesday, July 11th. Evercore ISI raised Westar Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $49.00 to $53.00 in a report on Tuesday, July 11th. Finally, BidaskClub downgraded Westar Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Westar Energy presently has an average rating of “Hold” and a consensus target price of $55.33.

Westar Energy (WR) traded down 0.06% during midday trading on Wednesday, hitting $50.28. The stock had a trading volume of 599,983 shares. The company’s 50-day moving average price is $52.23 and its 200 day moving average price is $53.34. Westar Energy has a 52 week low of $49.21 and a 52 week high of $57.50. The company has a market capitalization of $7.14 billion, a PE ratio of 21.04 and a beta of 0.40.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Washington Trust Bank increased its position in shares of Westar Energy by 792.5% in the first quarter. Washington Trust Bank now owns 2,365 shares of the utilities provider’s stock valued at $128,000 after buying an additional 2,100 shares during the last quarter. Trust Co. of Vermont raised its position in Westar Energy by 22.5% in the first quarter. Trust Co. of Vermont now owns 2,450 shares of the utilities provider’s stock valued at $133,000 after buying an additional 450 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Westar Energy by 1.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,486 shares of the utilities provider’s stock valued at $135,000 after buying an additional 46 shares during the period. Advisory Services Network LLC acquired a new position in Westar Energy during the first quarter valued at $139,000. Finally, Advantage Investment Management LLC acquired a new position in Westar Energy during the first quarter valued at $142,000. 71.85% of the stock is currently owned by hedge funds and other institutional investors.

Westar Energy Company Profile

Westar Energy, Inc is an electric utility. The Company provides electric generation, transmission and distribution services. The Company provides these services in central and northeastern Kansas, including the cities of Topeka, Lawrence, Manhattan, Salina and Hutchinson. Its subsidiary, Kansas Gas and Electric Company (KGE), provides these services in south-central and southeastern Kansas, including the city of Wichita.

The Fly

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