Traders Buy Westar Energy Inc. (WR) on Weakness
Investors purchased shares of Westar Energy Inc. (NYSE:WR) on weakness during trading on Tuesday. $20.61 million flowed into the stock on the tick-up and $4.11 million flowed out of the stock on the tick-down, for a money net flow of $16.50 million into the stock. Of all companies tracked, Westar Energy had the 20th highest net in-flow for the day. Westar Energy traded down ($0.02) for the day and closed at $56.34
A number of brokerages have recently commented on WR. Barclays PLC lifted their price target on shares of Westar Energy from $45.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, June 2nd. Gabelli lowered shares of Westar Energy from a “buy” rating to a “hold” rating in a report on Wednesday, June 1st. Mizuho lowered shares of Westar Energy from a “buy” rating to a “neutral” rating and set a $60.00 price target on the stock. in a report on Wednesday, June 1st. Zacks Investment Research upgraded shares of Westar Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 26th. Finally, Bank of America Corp. reiterated a “sell” rating on shares of Westar Energy in a report on Tuesday, May 24th. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.00.
The stock has a market cap of $7.98 billion and a price-to-earnings ratio of 26.04. The stock’s 50-day moving average is $56.09 and its 200-day moving average is $49.52.
Westar Energy (NYSE:WR) last posted its earnings results on Tuesday, May 3rd. The company reported $0.46 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.46. During the same period last year, the company posted $0.38 EPS. The firm had revenue of $569.50 million for the quarter, compared to the consensus estimate of $630.91 million. The business’s revenue was down 3.6% on a year-over-year basis. Equities research analysts expect that Westar Energy Inc. will post $2.45 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Thursday, June 9th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Tuesday, June 7th.
A number of hedge funds have recently bought and sold shares of the company. Employees Retirement System of Texas purchased a new stake in Westar Energy during the fourth quarter worth $2,121,000. Suntrust Banks Inc. raised its stake in Westar Energy by 13.9% in the fourth quarter. Suntrust Banks Inc. now owns 31,405 shares of the company’s stock worth $1,330,000 after buying an additional 3,821 shares during the period. Victory Capital Management Inc. raised its stake in Westar Energy by 0.5% in the fourth quarter. Victory Capital Management Inc. now owns 598,801 shares of the company’s stock worth $25,395,000 after buying an additional 3,119 shares during the period. Schroder Investment Management Group raised its stake in Westar Energy by 17.1% in the fourth quarter. Schroder Investment Management Group now owns 577,700 shares of the company’s stock worth $24,500,000 after buying an additional 84,300 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Westar Energy by 5.0% in the fourth quarter. Principal Financial Group Inc. now owns 455,215 shares of the company’s stock worth $19,305,000 after buying an additional 21,530 shares during the period.
Westar Energy, Inc (Westar Energy) is an electric utility in Kansas. The Company provides electric generation, transmission and distribution services to approximately 700,000 customers in Kansas. The Company provides these services in central and northeastern Kansas, including the cities of Topeka, Lawrence, Manhattan, Salina and Hutchinson.
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