Westar is considering strategic options including a sale, sources told Bloomberg.
The company is currently in discussions with potential financial advisers, according to Bloomberg.
Based in Topeka, Westar is an electric utility that has about 693,000 customers in Kansas.
So far today, 4.02 million shares of Westar have traded, well above the company's 30-day average of 1.31 million shares.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "buy" with a ratings score of A-. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
You can view the full analysis from the report here: WR