BMO Capital Markets Increases Evergy (NASDAQ:EVRG) Price Target to $82.00

Evergy (NASDAQ:EVRG) had its price target boosted by equities researchers at BMO Capital Markets from $79.00 to $82.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 6.98% from the company’s current price.

A number of other equities research analysts have also commented on the stock. Jefferies Financial Group upped their price objective on shares of Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Evergy in a research report on Monday, December 29th. Barclays lifted their price objective on Evergy from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, January 22nd. UBS Group upped their target price on Evergy from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Finally, Wall Street Zen cut Evergy from a “hold” rating to a “sell” rating in a research note on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.63.

Evergy Stock Down 0.6%

Shares of EVRG opened at $76.65 on Tuesday. The stock’s 50-day moving average price is $74.42 and its two-hundred day moving average price is $73.99. Evergy has a 12 month low of $61.94 and a 12 month high of $79.32. The company has a market capitalization of $17.65 billion, a PE ratio of 21.00, a PEG ratio of 3.11 and a beta of 0.67. The company has a current ratio of 0.52, a quick ratio of 0.30 and a debt-to-equity ratio of 1.20.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.11). The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $2.24 billion. Evergy had a net margin of 14.45% and a return on equity of 8.66%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $2.02 EPS. On average, analysts anticipate that Evergy will post 3.83 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EVRG. Simplicity Wealth LLC bought a new stake in Evergy in the 2nd quarter valued at about $778,000. Synergy Asset Management LLC boosted its position in Evergy by 100.0% during the third quarter. Synergy Asset Management LLC now owns 148,940 shares of the company’s stock worth $11,322,000 after purchasing an additional 74,470 shares during the period. Leo Wealth LLC purchased a new position in shares of Evergy in the second quarter worth about $1,399,000. Davis Capital Management bought a new stake in shares of Evergy in the third quarter valued at approximately $1,379,000. Finally, Callan Family Office LLC purchased a new stake in shares of Evergy during the 2nd quarter valued at approximately $413,000. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Company Profile

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.