Westar Energy Inc (WR) was Downgraded by Mizuho to ” Neutral” and the brokerage firm has set the Price Target at $60. Earlier the firm had a rating of “Buy ” on the company shares. Mizuho advised their investors in a research report released on Jun 1, 2016.
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.
On the company’s financial health, Westar Energy Inc reported $0.46 EPS for the quarter, based on the information available during the earnings call on May 3, 2016. Analyst had a consensus estimate of $0.46. The company had revenue of $569.45 million for the quarter, 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.
Westar Energy Inc opened for trading at $52.84 and hit $53.2 on the upside on Friday, eventually ending the session at $52.92, with a gain of 0.04% or 0.02 points. The heightened volatility saw the trading volume jump to 10,10,811 shares. Company has a market cap of $7,498 M.
Investors should note that on May 18, 2016, Westar Energy Inc announced a cash dividend of $0.3800. The company’s management has announced Jun 7, 2016 as the ex-dividend date and fixed the record date on Jun 9, 2016. The payable date has been fixed on Jul 1, 2016.
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.