Barclays Has Lowered Expectations for Evergy (NASDAQ:EVRG) Stock Price

Evergy (NASDAQ:EVRG) had its price objective cut by stock analysts at Barclays from $65.00 to $62.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential downside of 2.36% from the company’s current price.

Several other equities research analysts have also commented on the stock. Wells Fargo & Company boosted their price target on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Mizuho assumed coverage on shares of Evergy in a report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price target for the company. 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. Finally, Guggenheim upgraded shares of Evergy from a “neutral” rating to a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Evergy presently has an average rating of “Moderate Buy” and an average price target of $65.36.

Evergy Trading Down 0.0 %

Shares of EVRG opened at $63.50 on Monday. Evergy has a 1-year low of $48.04 and a 1-year high of $65.47. The company has a 50-day moving average of $62.45 and a 200 day moving average of $60.63. The firm has a market capitalization of $14.60 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 2.75 and a beta of 0.64. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $1.88 EPS. On average, research analysts expect that Evergy will post 3.84 EPS for the current year.

Insider Buying and Selling

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the transaction, the executive vice president now owns 1 shares in the company, valued at approximately $62.93. This represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Mather Group LLC. increased its stake in Evergy by 5.7% during the 4th quarter. Mather Group LLC. now owns 3,231 shares of the company’s stock valued at $199,000 after purchasing an additional 173 shares in the last quarter. Verity Asset Management Inc. increased its stake in Evergy by 11.9% during the 4th quarter. Verity Asset Management Inc. now owns 10,521 shares of the company’s stock valued at $643,000 after purchasing an additional 1,122 shares in the last quarter. Jennison Associates LLC increased its stake in Evergy by 10.8% during the 4th quarter. Jennison Associates LLC now owns 1,556,580 shares of the company’s stock valued at $95,807,000 after purchasing an additional 151,970 shares in the last quarter. Adamsbrown Wealth Consultants LLC increased its stake in Evergy by 1.8% during the 4th quarter. Adamsbrown Wealth Consultants LLC now owns 20,065 shares of the company’s stock valued at $1,235,000 after purchasing an additional 362 shares in the last quarter. Finally, SYM FINANCIAL Corp acquired a new position in Evergy during the 4th quarter valued at approximately $227,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

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.