Evergy Inc. (NASDAQ:EVRG) Receives $83.63 Consensus Price Target from Brokerages

Evergy Inc. (NASDAQ:EVRG) has earned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $83.6250.

Several equities analysts have issued reports on EVRG shares. Weiss Ratings restated a “buy (b-)” rating on shares of Evergy in a research report on Monday, December 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $91.00 price objective on shares of Evergy in a report on Friday, January 23rd. Wall Street Zen downgraded Evergy from a “hold” rating to a “sell” rating in a report on Monday, December 22nd. Jefferies Financial Group increased their price target on Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Finally, Mizuho reissued a “neutral” rating and issued a $76.00 price target (down from $86.00) on shares of Evergy in a research note on Thursday, December 18th.

Evergy Stock Up 2.4%

Shares of EVRG opened at $77.80 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.30 and a debt-to-equity ratio of 1.20. Evergy has a 12 month low of $61.94 and a 12 month high of $79.32. The firm’s 50 day moving average is $74.45 and its 200-day moving average is $74.27. The stock has a market capitalization of $17.91 billion, a PE ratio of 21.32, a P/E/G ratio of 3.07 and a beta of 0.66.

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

Hedge Funds Weigh In On Evergy

Several large investors have recently added to or reduced their stakes in EVRG. Brighton Jones LLC purchased a new position in Evergy during the 4th quarter worth $257,000. United Services Automobile Association bought a new stake in shares of Evergy in the 1st quarter worth approximately $223,000. Empowered Funds LLC raised its holdings in shares of Evergy by 19.5% in the 1st quarter. Empowered Funds LLC now owns 4,648 shares of the company’s stock worth $320,000 after purchasing an additional 758 shares during the period. Woodline Partners LP raised its stake in Evergy by 40.7% in the 1st quarter. Woodline Partners LP now owns 19,429 shares of the company’s stock valued at $1,340,000 after acquiring an additional 5,618 shares during the period. Finally, Focus Partners Wealth raised its holdings in Evergy by 7.3% during the 1st quarter. Focus Partners Wealth now owns 13,791 shares of the company’s stock valued at $951,000 after acquiring an additional 939 shares during the period. 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.