Evergy (NYSE:EVRG) Price Target Cut to $65.00 by Analysts at Barclays

Evergy (NYSE:EVRG) had its price objective lowered by Barclays from $67.00 to $65.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also recently issued reports on the company. Jefferies Financial Group started coverage on Evergy in a report on Thursday, September 19th. They set a “buy” rating and a $70.00 price objective for the company. UBS Group raised Evergy to a “hold” rating in a report on Wednesday, September 18th. Finally, Wells Fargo & Company boosted their price target on Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.14.

Evergy Price Performance

EVRG stock opened at $61.20 on Monday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.59 and a quick ratio of 0.35. The firm has a market capitalization of $14.07 billion, a P/E ratio of 19.81, a P/E/G ratio of 2.65 and a beta of 0.62. The business’s 50-day moving average is $60.17 and its two-hundred day moving average is $56.25. Evergy has a 1 year low of $47.46 and a 1 year high of $62.58.

Evergy (NYSE:EVRG) last released its quarterly earnings results on Friday, August 9th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.32 billion. Evergy had a return on equity of 8.50% and a net margin of 13.12%. During the same quarter last year, the business posted $0.81 EPS. Analysts anticipate that Evergy will post 3.84 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.6425 per share. This represents a $2.57 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Tuesday, August 20th. Evergy’s dividend payout ratio (DPR) is presently 83.17%.

Insider Buying and Selling at Evergy

In other Evergy news, SVP Heather A. Humphrey sold 3,347 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $58.80, for a total transaction of $196,803.60. Following the transaction, the senior vice president now owns 35,314 shares in the company, valued at $2,076,463.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Charles A. Caisley sold 9,236 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total value of $550,742.68. Following the transaction, the senior vice president now owns 33,425 shares in the company, valued at approximately $1,993,132.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Heather A. Humphrey sold 3,347 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $58.80, for a total value of $196,803.60. Following the completion of the transaction, the senior vice president now owns 35,314 shares in the company, valued at approximately $2,076,463.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,884 shares of company stock valued at $941,810. Company insiders own 0.47% of the company’s stock.

Institutional Trading of Evergy

Several institutional investors and hedge funds have recently bought and sold shares of EVRG. Fairscale Capital LLC acquired a new stake in Evergy during the second quarter valued at approximately $27,000. Fidelis Capital Partners LLC acquired a new stake in Evergy during the first quarter valued at approximately $32,000. Hexagon Capital Partners LLC grew its holdings in shares of Evergy by 47.1% during the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after purchasing an additional 170 shares during the last quarter. Toth Financial Advisory Corp grew its holdings in shares of Evergy by 199.5% during the first quarter. Toth Financial Advisory Corp now owns 635 shares of the company’s stock valued at $34,000 after purchasing an additional 423 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Evergy during the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Company Profile

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.