BMO Capital Markets Forecasts Strong Price Appreciation for Evergy (NASDAQ:EVRG) Stock

Evergy (NASDAQ:EVRG) had its price objective hoisted by equities research analysts at BMO Capital Markets from $88.00 to $92.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 6.17% from the company’s previous close.

EVRG has been the topic of several other research reports. Bank of America dropped their price target on Evergy from $89.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Barclays raised their price objective on Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. Weiss Ratings raised Evergy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Wells Fargo & Company set a $87.00 target price on Evergy in a research report on Tuesday, April 21st. Finally, BTIG Research initiated coverage on shares of Evergy in a report on Thursday, April 9th. They issued a “buy” rating and a $99.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.40.

Evergy Trading Up 0.1%

NASDAQ EVRG opened at $86.65 on Wednesday. Evergy has a 12-month low of $68.05 and a 12-month high of $88.62. The company has a fifty day simple moving average of $84.35 and a two-hundred day simple moving average of $81.63. The company has a current ratio of 0.45, a quick ratio of 0.24 and a debt-to-equity ratio of 1.29. The stock has a market cap of $19.97 billion, a P/E ratio of 22.98, a P/E/G ratio of 2.25 and a beta of 0.54.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.27 billion. Evergy had a net margin of 14.63% and a return on equity of 9.09%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share. On average, analysts forecast that Evergy will post 4.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $83.46, for a total transaction of $900,283.02. Following the sale, the executive vice president directly owned 37,789 shares of the company’s stock, valued at approximately $3,153,869.94. This represents a 22.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sandra Aj Lawrence sold 600 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $81.41, for a total transaction of $48,846.00. Following the sale, the director directly owned 680 shares in the company, valued at approximately $55,358.80. The trade was a 46.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 12,748 shares of company stock worth $1,061,870 over the last three months. 1.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Evergy

Several institutional investors have recently bought and sold shares of the company. MidFirst Bank acquired a new stake in shares of Evergy in the fourth quarter worth approximately $25,000. Harbor Capital Advisors Inc. acquired a new stake in Evergy in the 4th quarter valued at about $27,000. Prosperity Bancshares Inc acquired a new stake in Evergy in the 4th quarter valued at about $32,000. Triumph Capital Management lifted its stake in Evergy by 104.8% in the 4th quarter. Triumph Capital Management now owns 508 shares of the company’s stock worth $37,000 after purchasing an additional 260 shares in the last quarter. Finally, Transamerica Financial Advisors LLC lifted its stake in Evergy by 163.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 529 shares of the company’s stock worth $38,000 after purchasing an additional 328 shares in the last quarter. 87.24% of the stock is currently 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.