Barclays Cuts Evergy (NYSE:EVRG) Price Target to $65.00

Evergy (NYSE:EVRG) had its price target cut by Barclays from $67.00 to $65.00 in a research report report published on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Evergy in a report on Thursday, September 19th. They set a “buy” rating and a $70.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, UBS Group upgraded shares of Evergy to a “hold” rating in a report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.14.

Evergy Trading Up 0.7 %

NYSE:EVRG opened at $61.96 on Monday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.59 and a quick ratio of 0.35. The firm has a 50-day moving average of $60.28 and a 200-day moving average of $56.36. The company has a market cap of $14.25 billion, a PE ratio of 20.05, a PEG ratio of 2.65 and a beta of 0.62. Evergy has a one year low of $47.97 and a one year high of $62.58.

Evergy (NYSE:EVRG) last released its quarterly earnings results on Friday, August 9th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. Evergy had a net margin of 13.12% and a return on equity of 8.50%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the company earned $0.81 earnings per share. As a group, equities research analysts expect that Evergy will post 3.84 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, August 20th were paid a dividend of $0.6425 per share. This represents a $2.57 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Tuesday, August 20th. Evergy’s payout ratio is currently 83.17%.

Insider Activity at Evergy

In related news, Director Ann D. Murtlow sold 3,301 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total transaction of $194,263.85. Following the sale, the director now directly owns 2,847 shares in the company, valued at approximately $167,545.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Ann D. Murtlow sold 3,301 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total transaction of $194,263.85. Following the sale, the director now owns 2,847 shares of the company’s stock, valued at approximately $167,545.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Charles A. Caisley sold 9,236 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total transaction of $550,742.68. Following the sale, the senior vice president now directly owns 33,425 shares in the company, valued at $1,993,132.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,884 shares of company stock worth $941,810. 0.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Evergy

A number of institutional investors have recently made changes to their positions in EVRG. Wellington Management Group LLP increased its holdings in shares of Evergy by 12.8% in the 4th quarter. Wellington Management Group LLP now owns 249,422 shares of the company’s stock worth $13,020,000 after buying an additional 28,392 shares during the last quarter. Riverview Trust Co bought a new position in shares of Evergy in the 1st quarter worth $43,000. Kingswood Wealth Advisors LLC increased its holdings in shares of Evergy by 7.0% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 4,573 shares of the company’s stock worth $244,000 after buying an additional 300 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Evergy by 105.1% in the 1st quarter. Sunbelt Securities Inc. now owns 7,611 shares of the company’s stock worth $406,000 after buying an additional 3,901 shares during the last quarter. Finally, Brookstone Capital Management increased its holdings in shares of Evergy by 18.3% in the 1st quarter. Brookstone Capital Management now owns 23,945 shares of the company’s stock worth $1,278,000 after buying an additional 3,699 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.