Westar Energy, Inc. (WR) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Westar Energy, Inc. (NYSE:WR) in a report released on Wednesday, July 26th. The brokerage issued an outperform rating on the utilities provider’s stock.

Several other research firms have also recently commented on WR. Zacks Investment Research upgraded shares of Westar Energy from a sell rating to a hold rating in a research note on Saturday, April 8th. Evercore ISI upgraded shares of Westar Energy from an in-line rating to an outperform rating and upped their target price for the company from $49.00 to $53.00 in a research note on Tuesday, July 11th. J P Morgan Chase & Co upgraded shares of Westar Energy from a neutral rating to an overweight rating and upped their target price for the company from $32.00 to $53.00 in a research note on Tuesday, July 11th. Finally, BidaskClub cut shares of Westar Energy from a hold rating to a sell rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $55.33.

Shares of Westar Energy (NYSE WR) traded up 0.35% on Wednesday, reaching $51.57. 534,035 shares of the company’s stock traded hands. The company’s 50-day moving average is $51.60 and its 200-day moving average is $53.11. The firm has a market capitalization of $7.33 billion, a P/E ratio of 21.58 and a beta of 0.39. Westar Energy has a 52 week low of $49.21 and a 52 week high of $57.50.

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Several institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in shares of Westar Energy by 2.5% in the second quarter. Principal Financial Group Inc. now owns 597,362 shares of the utilities provider’s stock worth $31,672,000 after buying an additional 14,591 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Westar Energy by 2.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 16,913 shares of the utilities provider’s stock worth $897,000 after buying an additional 382 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Westar Energy by 14.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,996 shares of the utilities provider’s stock worth $1,325,000 after buying an additional 3,200 shares in the last quarter. Knights of Columbus Asset Advisors LLC acquired a new position in shares of Westar Energy during the second quarter worth about $541,000. Finally, Pacer Advisors Inc. boosted its position in shares of Westar Energy by 11.4% in the second quarter. Pacer Advisors Inc. now owns 22,194 shares of the utilities provider’s stock worth $1,177,000 after buying an additional 2,278 shares in the last quarter. Institutional investors own 71.31% 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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