Westar Energy (WR) Downgraded by TheStreet
Several other equities analysts have also weighed in on the company. Zacks Investment Research upgraded Westar Energy from a sell rating to a hold rating in a research note on Wednesday, December 13th. JPMorgan Chase & Co. cut their price target on Westar Energy from $62.00 to $56.00 and set an overweight rating for the company in a research note on Thursday, January 25th. Finally, UBS Group initiated coverage on Westar Energy in a research note on Friday, February 2nd. They issued a neutral rating and a $55.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Westar Energy presently has a consensus rating of Buy and a consensus target price of $55.50.
Westar Energy (NYSE WR) opened at $50.76 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.88 and a debt-to-equity ratio of 0.98. Westar Energy has a 52 week low of $47.06 and a 52 week high of $57.32. The firm has a market capitalization of $7,068.98, a PE ratio of 22.36, a P/E/G ratio of 5.82 and a beta of 0.35.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, March 8th. This represents a $1.60 annualized dividend and a yield of 3.15%.
Large investors have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. increased its stake in Westar Energy by 18.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 28,880 shares of the utilities provider’s stock worth $1,436,000 after buying an additional 4,399 shares in the last quarter. UMB Bank N A MO increased its stake in Westar Energy by 60.3% during the 4th quarter. UMB Bank N A MO now owns 11,835 shares of the utilities provider’s stock worth $625,000 after buying an additional 4,453 shares in the last quarter. Stevens Capital Management LP purchased a new stake in Westar Energy during the 3rd quarter worth approximately $1,601,000. Nordea Investment Management AB increased its stake in Westar Energy by 117.7% during the 3rd quarter. Nordea Investment Management AB now owns 6,804 shares of the utilities provider’s stock worth $337,000 after buying an additional 3,678 shares in the last quarter. Finally, K2 Principal Fund L.P. increased its stake in Westar Energy by 8.9% during the 3rd quarter. K2 Principal Fund L.P. now owns 32,676 shares of the utilities provider’s stock worth $1,621,000 after buying an additional 2,676 shares in the last quarter. Institutional investors own 72.41% of the company’s stock.
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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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