Investors Buy Westar Energy Inc. (WR) on Weakness
Traders purchased shares of Westar Energy Inc. (NYSE:WR) on weakness during trading on Tuesday. $16.36 million flowed into the stock on the tick-up and $4.63 million flowed out of the stock on the tick-down, for a money net flow of $11.73 million into the stock. Of all companies tracked, Westar Energy had the 31st highest net in-flow for the day. Westar Energy traded down ($0.11) for the day and closed at $53.79
A number of analysts have commented on the company. Argus cut Westar Energy from a “buy” rating to a “hold” rating in a research report on Friday, April 15th. They noted that the move was a valuation call. Barclays PLC increased their target price on Westar Energy from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, April 22nd. Zacks Investment Research upgraded Westar Energy from a “sell” rating to a “hold” rating in a research report on Thursday, May 26th. Mizuho cut Westar Energy from a “buy” rating to a “neutral” rating and set a $60.00 target price for the company. in a research report on Wednesday, June 1st. Finally, Bank of America Corp. reiterated a “sell” rating on shares of Westar Energy in a research report on Tuesday, May 24th. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.00.
The stock has a market capitalization of $7.62 billion and a P/E ratio of 24.33. The company’s 50-day moving average price is $55.70 and its 200 day moving average price is $50.92.
Westar Energy (NYSE:WR) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.02. During the same period in the prior year, the firm posted $0.47 EPS. The company had revenue of $621.45 million for the quarter, compared to analysts’ expectations of $639.24 million. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Westar Energy Inc. will post $2.45 EPS for the current year.
A number of large investors have recently made changes to their positions in the stock. Employees Retirement System of Texas purchased a new stake in shares of Westar Energy during the fourth quarter worth approximately $2,121,000. Suntrust Banks Inc. increased its stake in shares of 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 last quarter. Victory Capital Management Inc. increased its stake in shares of 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 last quarter. Schroder Investment Management Group increased its stake in shares of 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 last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of 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 last quarter.
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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