Barclays Lowers Evergy (NASDAQ:EVRG) Price Target to $62.00

Evergy (NASDAQ:EVRG) had its price target decreased by equities researchers at Barclays from $65.00 to $62.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 1.91% from the stock’s previous close.

A number of other equities research analysts have also issued reports on EVRG. LADENBURG THALM/SH SH upgraded shares of Evergy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $59.00 to $68.50 in a report on Thursday, January 2nd. Wells Fargo & Company increased their target price on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Mizuho started coverage on Evergy in a research report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.36.

Evergy Price Performance

NASDAQ:EVRG opened at $63.21 on Monday. Evergy has a 52-week low of $48.04 and a 52-week high of $65.47. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. The firm has a market cap of $14.54 billion, a P/E ratio of 17.08, a PEG ratio of 2.75 and a beta of 0.64. The business’s 50-day moving average price is $62.44 and its 200 day moving average price is $60.76.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $1.88 EPS. As a group, sell-side analysts predict that Evergy will post 3.84 earnings per share for the current fiscal year.

Insider Activity at Evergy

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total value of $3,029,513.13. Following the completion of the sale, the executive vice president now owns 1 shares of the company’s stock, valued at $62.93. The trade was a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Evergy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its stake in shares of Evergy by 5.5% in the third quarter. Franklin Resources Inc. now owns 5,532,719 shares of the company’s stock worth $330,469,000 after buying an additional 288,619 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Evergy by 25.8% during the third quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company’s stock valued at $176,650,000 after acquiring an additional 583,923 shares during the period. Pathway Financial Advisers LLC grew its position in shares of Evergy by 6,854.6% in the third quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company’s stock valued at $157,443,000 after purchasing an additional 2,502,493 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Evergy by 42.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,135,011 shares of the company’s stock worth $132,392,000 after purchasing an additional 634,735 shares during the period. Finally, FMR LLC lifted its position in shares of Evergy by 131.4% during the 3rd quarter. FMR LLC now owns 2,004,414 shares of the company’s stock worth $124,294,000 after purchasing an additional 1,138,138 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

About Evergy

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.