Evergy (NASDAQ:EVRG) Stock Price Expected to Rise, Barclays Analyst Says

Evergy (NASDAQ:EVRG) had its price target upped by analysts at Barclays from $82.00 to $89.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 8.86% from the company’s current price.

EVRG has been the subject of a number of other reports. Citigroup boosted their price target on Evergy from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Evergy in a report on Monday, December 29th. UBS Group cut shares of Evergy from a “buy” rating to a “neutral” rating and upped their target price for the company from $86.00 to $88.00 in a report on Friday, February 13th. Wells Fargo & Company increased their price target on shares of Evergy from $79.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, February 20th. Finally, BMO Capital Markets lifted their price target on shares of Evergy from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.75.

Evergy Stock Performance

EVRG stock traded down $1.60 on Monday, hitting $81.76. The company had a trading volume of 411,109 shares, compared to its average volume of 2,221,451. The company has a current ratio of 0.49, a quick ratio of 0.27 and a debt-to-equity ratio of 1.27. Evergy has a 12-month low of $61.94 and a 12-month high of $85.23. The stock has a market cap of $18.83 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 3.31 and a beta of 0.65. The stock’s 50-day simple moving average is $77.78 and its 200 day simple moving average is $75.85.

Evergy (NASDAQ:EVRG) last released its quarterly earnings results on Saturday, January 31st. The company reported $0.42 earnings per share for the quarter. Evergy had a return on equity of 8.79% and a net margin of 14.35%. As a group, equities research analysts expect that Evergy will post 3.83 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ann D. Murtlow sold 2,847 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $82.34, for a total value of $234,421.98. Following the completion of the sale, the director directly owned 2,311 shares of the company’s stock, valued at $190,287.74. This represents a 55.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

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.