Westar Energy, Inc. (WR) To Go Ex-Dividend on September 7th
Westar Energy, Inc. (NYSE:WR) announced a quarterly dividend on Friday, August 25th, RTT News reports. Shareholders of record on Friday, September 8th will be paid a dividend of 0.40 per share by the utilities provider on Monday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, September 7th.
Westar Energy has raised its dividend by an average of 3.6% per year over the last three years and has increased its dividend every year for the last 11 years. Westar Energy has a payout ratio of 64.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Westar Energy to earn $2.51 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 63.7%.
Shares of Westar Energy (NYSE:WR) opened at 51.10 on Friday. The firm’s 50-day moving average is $50.89 and its 200 day moving average is $52.64. The firm has a market capitalization of $7.26 billion, a PE ratio of 21.47 and a beta of 0.40. Westar Energy has a 52 week low of $49.21 and a 52 week high of $57.50.
Westar Energy (NYSE:WR) last posted its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by $0.06. Westar Energy had a net margin of 13.33% and a return on equity of 8.87%. The firm had revenue of $609.32 million during the quarter, compared to analysts’ expectations of $633.96 million. During the same quarter last year, the business earned $0.51 earnings per share. On average, equities analysts forecast that Westar Energy will post $2.50 earnings per share for the current year.
WR has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Westar Energy from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Tuesday, June 20th. J P Morgan Chase & Co upgraded shares of Westar Energy from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $32.00 to $53.00 in a research report on Tuesday, July 11th. Evercore ISI upgraded shares of Westar Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $49.00 to $53.00 in a research report on Tuesday, July 11th. BidaskClub lowered shares of Westar Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Wolfe Research initiated coverage on shares of Westar Energy in a research report on Wednesday, July 26th. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $55.33.
In other Westar Energy news, VP Larry D. Irick sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $51.17, for a total value of $511,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bruce A. Akin sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $51.50, for a total value of $257,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,500 shares of company stock worth $1,611,715. 0.61% of the stock is currently owned by insiders.
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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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