Evergy (NASDAQ:EVRG) Rating Lowered to Sell at Wall Street Zen

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

A number of other research firms also recently commented on EVRG. Royal Bank Of Canada raised Evergy to a “moderate buy” rating in a research note on Tuesday, October 28th. Citigroup raised their target price on shares of Evergy from $79.00 to $89.00 and gave the company a “buy” rating in a report on Monday, November 10th. Jefferies Financial Group upped their price target on shares of Evergy from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Wells Fargo & Company upgraded shares of Evergy to a “hold” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Evergy in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Evergy has a consensus rating of “Buy” and an average price target of $80.72.

Evergy Trading Down 0.7%

NASDAQ EVRG opened at $73.28 on Friday. Evergy has a 12 month low of $59.67 and a 12 month high of $79.32. The company has a current ratio of 0.52, a quick ratio of 0.30 and a debt-to-equity ratio of 1.20. The stock has a 50 day moving average of $76.79 and a 200-day moving average of $72.30. The company has a market cap of $16.87 billion, a PE ratio of 20.08, a PEG ratio of 3.18 and a beta of 0.65.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.24 billion. Evergy had a return on equity of 8.66% and a net margin of 14.45%.Evergy’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm earned $2.02 EPS. On average, equities research analysts anticipate that Evergy will post 3.83 EPS for the current fiscal year.

Insider Transactions at Evergy

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $72.33, for a total value of $578,640.00. Following the completion of the transaction, the senior vice president owned 499 shares of the company’s stock, valued at $36,092.67. This represents a 94.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EVRG. Allworth Financial LP boosted its holdings in shares of Evergy by 4.6% during the 3rd quarter. Allworth Financial LP now owns 9,862 shares of the company’s stock valued at $750,000 after acquiring an additional 435 shares in the last quarter. Fulcrum Asset Management LLP raised its position in Evergy by 104.2% in the third quarter. Fulcrum Asset Management LLP now owns 20,025 shares of the company’s stock valued at $1,522,000 after purchasing an additional 10,218 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Evergy during the third quarter valued at about $3,173,000. Coldstream Capital Management Inc. grew its holdings in shares of Evergy by 12.3% during the third quarter. Coldstream Capital Management Inc. now owns 7,472 shares of the company’s stock worth $568,000 after purchasing an additional 818 shares during the last quarter. Finally, Danske Bank A S acquired a new position in shares of Evergy in the third quarter valued at approximately $304,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

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.