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

Evergy (NASDAQ:EVRG) had its target price dropped by equities researchers at Barclays from $65.00 to $62.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential downside of 2.36% from the company’s current price.

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

Evergy Trading Down 0.0 %

NASDAQ:EVRG opened at $63.50 on Monday. Evergy has a one year low of $48.04 and a one year high of $65.47. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. The company’s 50-day simple moving average is $62.45 and its 200 day simple moving average is $60.63. The firm has a market capitalization of $14.60 billion, a P/E ratio of 17.20, a PEG ratio of 2.75 and a beta of 0.64.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.95 by $0.07. The business had revenue of $1.81 billion for 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%. Evergy’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 earnings per share. As a group, analysts forecast that Evergy will post 3.84 EPS for the current fiscal year.

Insider Activity at Evergy

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 1 shares in the company, valued at $62.93. This trade represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Evergy

Several institutional investors have recently bought and sold shares of the business. Sunbelt Securities Inc. lifted its position in Evergy by 2.2% during the third quarter. Sunbelt Securities Inc. now owns 7,778 shares of the company’s stock valued at $482,000 after purchasing an additional 168 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Evergy by 47.1% in the 3rd quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock worth $33,000 after acquiring an additional 170 shares during the last quarter. Empirical Finance LLC lifted its holdings in shares of Evergy by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 7,751 shares of the company’s stock worth $481,000 after acquiring an additional 171 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of Evergy by 5.7% in the 4th quarter. Mather Group LLC. now owns 3,231 shares of the company’s stock worth $199,000 after acquiring an additional 173 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its holdings in shares of Evergy by 2.5% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 7,322 shares of the company’s stock worth $451,000 after acquiring an additional 182 shares during the last quarter. Institutional investors 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.