Westar Energy, Inc. (WR) Upgraded 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 released on Wednesday, June 28th. They currently have $60.00 target price 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. “

Shares of Westar Energy (WR) traded up 0.32% during mid-day trading on Wednesday, reaching $50.56. The company’s stock had a trading volume of 868,803 shares. The firm has a market cap of $7.18 billion, a PE ratio of 21.15 and a beta of 0.40. The company has a 50-day moving average of $51.91 and a 200-day moving average of $53.24. Westar Energy has a 12 month low of $49.21 and a 12 month high of $57.50.

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The company also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 9th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $1.60 annualized dividend and a yield of 3.16%. Westar Energy’s dividend payout ratio is presently 66.95%.

A number of institutional investors have recently bought and sold shares of the stock. Retirement Planning Group increased its position in Westar Energy by 0.5% in the first quarter. Retirement Planning Group now owns 4,514 shares of the utilities provider’s stock valued at $245,000 after buying an additional 23 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Westar Energy by 1.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,486 shares of the utilities provider’s stock worth $135,000 after buying an additional 46 shares during the period. Capstone Asset Management Co. increased its position in shares of Westar Energy by 0.5% in the first quarter. Capstone Asset Management Co. now owns 12,092 shares of the utilities provider’s stock worth $656,000 after buying an additional 60 shares during the period. Laurel Wealth Advisors Inc. increased its position in shares of Westar Energy by 1.9% in the first quarter. Laurel Wealth Advisors Inc. now owns 5,275 shares of the utilities provider’s stock worth $286,000 after buying an additional 100 shares during the period. Finally, Independent Advisor Alliance increased its position in shares of Westar Energy by 2.8% in the first quarter. Independent Advisor Alliance now owns 4,557 shares of the utilities provider’s stock worth $249,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 71.85% 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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