Andrew Heyl
Value, contrarian, long/short equity, portfolio strategy

Westar Energy: A Solid Company With A Generous Dividend - Selling At A Discount

2013 Revenue and Earnings

Westar Energy, Inc. (NYSE:WR) released its 2013 SEC 10-K form on February 26, 2014 that showed total revenue of $2,370,654, a 4.8% increase over 2012 revenue of $2,261,470. Earnings per share were $2.29, a 6.5% increase over its 2012 earnings of $2.15. The company also raised its annual dividend by 3% to $1.36 per share (4.1% yield), and confirmed its 2014 earnings guidance of $2.25 to $2.40 per share. Full year 2013 earnings slightly beat MSN Money's analysts expectations.

The news release did not satisfy investors, and the share price dropped from its high of $35.30 on February 24, 2014 to a low of $33.30 on March 12, 2014. It is currently selling...

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