Westar Energy, Inc. (NYSE:WR) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Westar Energy, Inc. (NYSE:WR) from a hold rating to a buy rating in a research report report published on Wednesday, June 28th. They currently have $60.00 price objective on the utilities provider’s stock.

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. “

Westar Energy (NYSE WR) opened at 49.56 on Wednesday. Westar Energy has a 12-month low of $49.32 and a 12-month high of $57.50. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 20.74 and a beta of 0.40. The company’s 50 day moving average is $52.85 and its 200 day moving average is $54.00.

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The firm also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Friday, June 9th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $1.60 annualized dividend and a dividend yield of 3.23%. Westar Energy’s dividend payout ratio (DPR) is 66.95%.

Several hedge funds and other institutional investors have recently made changes to their positions in WR. V Wealth Management LLC acquired a new position in shares of Westar Energy during the second quarter valued at approximately $187,000. Mn Services Vermogensbeheer B.V. raised its position in Westar Energy by 508.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 23,062 shares of the utilities provider’s stock worth $1,223,000 after buying an additional 19,272 shares during the last quarter. Gateway Investment Advisers LLC raised its position in Westar Energy by 1,922.8% in the second quarter. Gateway Investment Advisers LLC now owns 84,129 shares of the utilities provider’s stock worth $4,461,000 after buying an additional 79,970 shares during the last quarter. Capstone Asset Management Co. raised its position in Westar Energy by 1.3% in the second quarter. Capstone Asset Management Co. now owns 12,252 shares of the utilities provider’s stock worth $650,000 after buying an additional 160 shares during the last quarter. Finally, First PREMIER Bank raised its position in Westar Energy by 0.5% in the second quarter. First PREMIER Bank now owns 38,049 shares of the utilities provider’s stock worth $2,017,000 after buying an additional 188 shares during the last quarter. Institutional investors own 71.81% of the company’s stock.

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.

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