Evergy Inc. (NASDAQ:EVRG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Evergy Inc. (NASDAQ:EVRG) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $83.6250.

Several research firms have recently commented on EVRG. Jefferies Financial Group raised their target price on shares of Evergy from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Wells Fargo & Company raised their price objective on shares of Evergy from $77.00 to $79.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 20th. UBS Group lifted their price objective on Evergy from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Mizuho reissued a “neutral” rating and issued a $76.00 target price (down previously from $86.00) on shares of Evergy in a research report on Thursday, December 18th. Finally, Wall Street Zen cut Evergy from a “hold” rating to a “sell” rating in a research note on Monday, December 22nd.

Institutional Trading of Evergy

Hedge funds have recently modified their holdings of the business. Brighton Jones LLC purchased a new position in Evergy during the 4th quarter valued at about $257,000. United Services Automobile Association purchased a new position in shares of Evergy during the first quarter valued at approximately $223,000. Empowered Funds LLC boosted its position in shares of Evergy by 19.5% in the 1st quarter. Empowered Funds LLC now owns 4,648 shares of the company’s stock worth $320,000 after purchasing an additional 758 shares in the last quarter. Woodline Partners LP boosted its position in shares of Evergy by 40.7% in the 1st quarter. Woodline Partners LP now owns 19,429 shares of the company’s stock worth $1,340,000 after purchasing an additional 5,618 shares in the last quarter. Finally, Focus Partners Wealth increased its position in Evergy by 7.3% during the 1st quarter. Focus Partners Wealth now owns 13,791 shares of the company’s stock valued at $951,000 after buying an additional 939 shares in the last quarter. Institutional investors own 87.24% of the company’s stock.

Evergy Price Performance

Shares of EVRG stock opened at $76.37 on Friday. The firm has a market cap of $17.58 billion, a P/E ratio of 20.92, a P/E/G ratio of 3.10 and a beta of 0.67. Evergy has a fifty-two week low of $61.94 and a fifty-two week high of $79.32. The business’s 50 day moving average price is $74.43 and its 200-day moving average price is $74.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.30 and a current ratio of 0.52.

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

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.