Westar Energy, Inc. (WR) Raised to Hold at Zacks Investment Research
Westar Energy, Inc. (NYSE:WR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “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. “
WR has been the topic of several other reports. Wells Fargo & Company upgraded shares of Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 price objective on the stock in a report on Monday, October 2nd. Wolfe Research assumed coverage on shares of Westar Energy in a report on Wednesday, July 26th. They issued an “outperform” rating on the stock. BidaskClub upgraded shares of Westar Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. J P Morgan Chase & Co upgraded shares of Westar Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $32.00 to $53.00 in a report on Tuesday, July 11th. Finally, Evercore ISI upgraded shares of Westar Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $49.00 to $53.00 in a report on Tuesday, July 11th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $55.33.
Westar Energy (NYSE WR) traded down 0.42% on Thursday, hitting $52.06. The company’s stock had a trading volume of 450,786 shares. Westar Energy has a 1-year low of $49.20 and a 1-year high of $57.50. The company has a market capitalization of $7.40 billion, a P/E ratio of 21.87 and a beta of 0.39. The company has a 50 day moving average price of $50.77 and a 200-day moving average price of $51.91.
Westar Energy (NYSE:WR) last released its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.06). Westar Energy had a net margin of 13.33% and a return on equity of 8.87%. The company had revenue of $609.32 million for the quarter, compared to the consensus estimate of $633.96 million. During the same period last year, the company earned $0.51 earnings per share. On average, equities analysts forecast that Westar Energy will post $2.50 earnings per share for the current fiscal year.
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In other Westar Energy news, CFO Anthony D. Somma sold 4,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $51.21, for a total value of $204,840.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Greg A. Greenwood sold 10,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $51.00, for a total transaction of $510,000.00. The disclosure for this sale can be found here. Insiders sold 31,500 shares of company stock worth $1,611,715 over the last 90 days. 0.70% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. D.A. Davidson & CO. raised its holdings in Westar Energy by 6.6% in the second quarter. D.A. Davidson & CO. now owns 3,240 shares of the utilities provider’s stock worth $171,000 after purchasing an additional 202 shares during the period. V Wealth Management LLC acquired a new stake in Westar Energy in the second quarter worth $187,000. Dynamic Technology Lab Private Ltd acquired a new stake in Westar Energy in the first quarter worth $233,000. Retirement Planning Group raised its holdings in Westar Energy by 0.6% in the second quarter. Retirement Planning Group now owns 4,540 shares of the utilities provider’s stock worth $241,000 after purchasing an additional 26 shares during the period. Finally, Sii Investments Inc. WI raised its holdings in Westar Energy by 4.9% in the first quarter. Sii Investments Inc. WI now owns 4,495 shares of the utilities provider’s stock worth $242,000 after purchasing an additional 211 shares during the period. Institutional investors own 73.65% of the company’s stock.
About Westar Energy
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.
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