Westar Energy (NYSE:WR) had its target price lowered by JPMorgan Chase & Co. from $62.00 to $56.00 in a research report issued to clients and investors on Thursday. The brokerage currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 9.06% from the company’s previous close.

WR has been the topic of several other research reports. Zacks Investment Research upgraded shares of Westar Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 28th. Bank of America assumed coverage on shares of Westar Energy in a research note on Tuesday, October 24th. They issued a “buy” rating and a $57.00 price target on the stock. Finally, Wells Fargo & Co upgraded shares of Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 price target on the stock in a research note on Monday, October 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $55.60.

Westar Energy (NYSE:WR) opened at $51.35 on Thursday. The company has a quick ratio of 0.65, a current ratio of 1.07 and a debt-to-equity ratio of 0.97. Westar Energy has a twelve month low of $49.20 and a twelve month high of $57.32. The stock has a market cap of $7,330.00, a PE ratio of 21.24, a price-to-earnings-growth ratio of 5.99 and a beta of 0.42.

Westar Energy (NYSE:WR) last issued its earnings results on Tuesday, October 31st. The utilities provider reported $1.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.09). Westar Energy had a return on equity of 8.94% and a net margin of 13.32%. The business had revenue of $794.33 million during the quarter, compared to the consensus estimate of $773.96 million. During the same period in the prior year, the business earned $1.09 EPS. The business’s revenue was up 3.9% on a year-over-year basis. equities analysts expect that Westar Energy will post 2.45 EPS for the current fiscal year.

In related news, CFO Anthony D. Somma sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $54.53, for a total transaction of $163,590.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Larry D. Irick sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $54.38, for a total transaction of $271,900.00. The disclosure for this sale can be found here. Insiders sold 55,100 shares of company stock worth $2,991,312 in the last 90 days. 0.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Westar Energy by 1.5% during the second quarter. Vanguard Group Inc. now owns 12,610,777 shares of the utilities provider’s stock valued at $668,624,000 after acquiring an additional 186,563 shares during the period. CNH Partners LLC increased its stake in shares of Westar Energy by 8.2% during the second quarter. CNH Partners LLC now owns 3,428,377 shares of the utilities provider’s stock valued at $181,773,000 after acquiring an additional 260,631 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Westar Energy by 20.3% during the third quarter. JPMorgan Chase & Co. now owns 2,249,977 shares of the utilities provider’s stock valued at $112,184,000 after acquiring an additional 379,131 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Westar Energy by 31.8% during the third quarter. Ameriprise Financial Inc. now owns 2,215,217 shares of the utilities provider’s stock valued at $109,878,000 after acquiring an additional 533,878 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Westar Energy by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 1,987,350 shares of the utilities provider’s stock valued at $98,572,000 after acquiring an additional 25,378 shares during the period. Institutional investors and hedge funds own 73.67% of the company’s stock.

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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.

Analyst Recommendations for Westar Energy (NYSE:WR)

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