Evergy Inc. (NASDAQ:EVRG) Stock Has Consensus Target Price of $90.00 According to Brokerages

Evergy Inc. (NASDAQ:EVRG) has received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $90.00.

Several research analysts recently commented on EVRG shares. HSBC started coverage on shares of Evergy in a report on Thursday, October 22nd. They set a “buy” rating and a $92.00 target price for the company. TD Cowen began coverage on shares of Evergy in a research report on Thursday, October 22nd. They issued a “buy” rating and a $95.00 target price for the company. Citigroup boosted their price target on shares of Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. DA Davidson set a $85.00 price target on Evergy in a research report on Tuesday, October 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Evergy in a research note on Friday, August 7th.

Evergy Price Performance

EVRG opened at $85.93 on Friday. The company has a quick ratio of 0.21, a current ratio of 0.36 and a debt-to-equity ratio of 1.20. Evergy has a 12 month low of $71.40 and a 12 month high of $88.62. The company has a fifty day simple moving average of $81.28 and a 200 day simple moving average of $81.98. The stock has a market cap of $19.81 billion, a P/E ratio of 21.81, a P/E/G ratio of 2.22 and a beta of 0.50.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.81 by $0.07. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Evergy had a net margin of 15.19% and a return on equity of 9.20%. During the same period in the previous year, the firm posted $0.82 EPS. On average, research analysts expect that Evergy will post 4.27 EPS for the current year.

Insider Activity

In related news, Director Jonathan Rolph acquired 1,640 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was bought at an average price of $81.47 per share, with a total value of $133,610.80. Following the acquisition, the director owned 670 shares in the company, valued at $54,584.90. This represents a -169.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Evergy

Hedge funds have recently bought and sold shares of the company. Provenance Wealth Advisors LLC bought a new stake in shares of Evergy during the third quarter worth approximately $29,000. MidFirst Bank acquired a new position in shares of Evergy in the second quarter valued at approximately $30,000. Knuff & Co LLC bought a new position in shares of Evergy during the second quarter worth approximately $30,000. Burk Holdings LLC acquired a new position in Evergy in the 2nd quarter valued at $31,000. Finally, Balance Wealth Partners LLC acquired a new position in Evergy in the 3rd quarter valued at $31,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

About Evergy

Evergy, Inc is an investor-owned electric utility that generates, transmits, distributes and sells electricity to residential, commercial, industrial and municipal customers. The company operates regulated utilities in Kansas and Missouri, providing electric service through its Kansas Central, Kansas South, Missouri Metro and Missouri West operations.

Evergy’s generation portfolio includes wind, solar, coal, natural gas and nuclear power. The company also owns an interest in the Wolf Creek Generating Station, a nuclear power plant in Kansas, and continues to invest in renewable energy, grid modernization and other infrastructure intended to support reliable electricity service.

Evergy was formed in 2018 through the merger of Westar Energy and Great Plains Energy, the parent company of Kansas City Power & Light.