Westar Energy Inc (WR) reported quarterly earnings results on Tuesday, May-3-2016. The company reported $0.46 EPS for the quarter. Analysts had a consensus estimate of $0.46. The company posted revenue of $569.45 million in the period, compared to analysts expectations of $630.86 million. The company’s revenue was down -3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.
Many Wall Street Analysts have commented on Westar Energy Inc. Company shares were Reiterated by Barclays on Apr 22, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 45 from a previous price target of $43 .Mizuho Initiated Westar Energy Inc on Mar 14, 2016 to “Buy”, Price Target of the shares are set at $55.Westar Energy Inc was Downgraded by Wells Fargo to ” Market Perform” on Feb 26, 2016.
Westar Energy Inc closed down -0.24 points or -0.47% at $51.37 with 14,54,730 shares getting traded on Monday. Post opening the session at $51.6, the shares hit an intraday low of $51.16 and an intraday high of $51.99 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Mar 11, 2016, Greg A Greenwood (SVP, Strategy) sold 5,000 shares at $46.90 per share price. According to the SEC, on Mar 9, 2016, Kevin L. Kongs (Vice President, Controller) sold 1,000 shares at $44.00 per share price. On Nov 30, 2015, Jerl L. Banning (SVP, Oper. Support & Admin.) sold 2,500 shares at $42.45 per share price, according to the Form-4 filing with the securities and exchange commission.
Westar Energy Inc. (Westar Energy) is an electric utility in Kansas. The Company provides electric generation transmission and distribution services to approximately 693000 customers in Kansas. The Company provides these services in central and northeastern Kansas including the cities of Topeka Lawrence Manhattan Salina and Hutchinson. Kansas Gas and Electric Company (KGE) Westar Energy’s wholly owned subsidiary provides the services in south-central and southeastern Kansas including the city of Wichita. Both Westar Energy and KGE conduct business using the name Westar Energy. The Company supplies electric energy at retail to customers in Kansas. The Company also supplies electric energy at wholesale to municipalities and electric cooperatives in Kansas. The Company classifies it customer as residential commercial and industrial. It has around 6645 megawatts (MW) of generating capacity in service. Its installed wind power generation capacity is around 515 MW.