Evergy (NASDAQ:EVRG) Now Covered by Truist Financial

Equities research analysts at Truist Financial started coverage on shares of Evergy (NASDAQ:EVRG) in a report released on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $97.00 price target on the stock. Truist Financial‘s price objective would indicate a potential upside of 14.64% from the stock’s current price.

EVRG has been the subject of several other reports. BTIG Research set a $94.00 target price on Evergy in a research report on Tuesday, October 20th. Citigroup boosted their price target on shares of Evergy from $95.00 to $97.00 and gave the company a “buy” rating in a report on Friday, July 24th. TD Cowen began coverage on Evergy in a report on Thursday, October 22nd. They set a “buy” rating and a $95.00 target price for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Evergy in a research report on Friday, August 7th. Finally, DA Davidson set a $85.00 price objective on shares of Evergy in a research report on Tuesday, October 13th. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.00.

Evergy Trading Up 0.2%

NASDAQ:EVRG opened at $84.61 on Tuesday. Evergy has a 52 week low of $71.40 and a 52 week high of $88.62. The firm has a market capitalization of $19.51 billion, a P/E ratio of 21.47, a P/E/G ratio of 2.19 and a beta of 0.50. The company has a quick ratio of 0.21, a current ratio of 0.36 and a debt-to-equity ratio of 1.20. The company has a fifty day moving average of $81.14 and a 200 day moving average of $81.73.

Evergy (NASDAQ:EVRG) last issued its earnings results on Wednesday, August 5th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.07. Evergy had a net margin of 15.19% and a return on equity of 9.20%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company posted $0.82 earnings per share. On average, research analysts predict that Evergy will post 4.26 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jonathan Rolph purchased 1,640 shares of the business’s stock in a transaction on Friday, September 11th. The shares were bought at an average price of $81.47 per share, with a total value of $133,610.80. Following the completion of the purchase, the director directly owned 670 shares in the company, valued at approximately $54,584.90. This trade represents a -169.07% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Evergy

Several institutional investors and hedge funds have recently made changes to their positions in the company. MidFirst Bank acquired a new position in shares of Evergy during the 2nd quarter worth $30,000. Knuff & Co LLC bought a new position in Evergy in the 2nd quarter worth approximately $30,000. Burk Holdings LLC acquired a new position in shares of Evergy in the 2nd quarter valued at $31,000. Fortitude Family Office LLC increased its position in shares of Evergy by 139.6% in the 3rd quarter. Fortitude Family Office LLC now owns 405 shares of the company’s stock valued at $32,000 after buying an additional 236 shares in the last quarter. Finally, Clearstead Trust LLC bought a new stake in Evergy in the 2nd quarter valued at approximately $33,000. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Company Profile

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.