Evergy (NASDAQ:EVRG) Raised to “Hold” at Wall Street Zen

Evergy (NASDAQ:EVRG) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other research firms have also recently issued reports on EVRG. Royal Bank Of Canada raised shares of Evergy to a “moderate buy” rating in a research report on Tuesday, October 28th. Barclays reaffirmed an “outperform” rating on shares of Evergy in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Evergy in a research report on Wednesday, October 8th. Wells Fargo & Company raised shares of Evergy to a “hold” rating in a research report on Tuesday, October 28th. Finally, Jefferies Financial Group lifted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $79.61.

Evergy Price Performance

Evergy stock opened at $76.81 on Friday. Evergy has a 52-week low of $59.23 and a 52-week high of $79.32. The company’s 50 day moving average is $74.70 and its two-hundred day moving average is $70.79. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24. The firm has a market cap of $17.68 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 3.56 and a beta of 0.57.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. On average, research analysts expect that Evergy will post 3.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy stock in a transaction on Monday, September 15th. The shares were sold at an average price of $72.33, for a total transaction of $578,640.00. Following the sale, the senior vice president directly owned 499 shares in the company, valued at $36,092.67. This trade represents a 94.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Evergy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Amundi boosted its holdings in Evergy by 14.2% during the first quarter. Amundi now owns 140,301 shares of the company’s stock worth $9,710,000 after buying an additional 17,477 shares in the last quarter. Northern Trust Corp boosted its holdings in Evergy by 16.7% during the first quarter. Northern Trust Corp now owns 2,737,480 shares of the company’s stock worth $188,749,000 after buying an additional 392,361 shares in the last quarter. Integrity Alliance LLC. purchased a new stake in Evergy during the first quarter worth about $319,000. Callan Family Office LLC purchased a new stake in Evergy during the second quarter worth about $413,000. Finally, Simplicity Wealth LLC purchased a new stake in Evergy during the second quarter worth about $778,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Company Profile

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.