Westar Energy (WR) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Westar Energy (NYSE:WR) from a hold rating to a sell rating in a research report report published on Wednesday morning.

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. “

A number of other analysts have also recently weighed in on the company. UBS Group began coverage on Westar Energy in a research report on Friday, February 2nd. They issued a neutral rating and a $55.00 price objective for the company. Bank of America began coverage on Westar Energy in a research report on Tuesday, October 24th. They issued a buy rating and a $57.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Westar Energy from $62.00 to $56.00 and set an overweight rating for the company in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $55.50.

Shares of Westar Energy (NYSE:WR) opened at $49.83 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.65 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $7,094.76, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 5.85 and a beta of 0.35. Westar Energy has a 52-week low of $47.06 and a 52-week high of $57.32.

Several institutional investors have recently bought and sold shares of the company. Ffcm LLC purchased a new position in Westar Energy in the 3rd quarter worth $113,000. Steward Partners Investment Advisory LLC raised its stake in Westar Energy by 70.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,628 shares of the utilities provider’s stock worth $138,000 after acquiring an additional 1,084 shares during the last quarter. Legg Mason Asset Management Japan Co. Ltd. purchased a new position in Westar Energy in the 4th quarter worth $159,000. Colorado Capital Management Inc. purchased a new position in Westar Energy in the 4th quarter worth $205,000. Finally, Janney Montgomery Scott LLC purchased a new position in Westar Energy in the 3rd quarter worth $212,000. 71.08% of the stock is owned by hedge funds and other institutional investors.

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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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