Evergy (NASDAQ:EVRG) Now Covered by Analysts at TD Cowen

TD Cowen assumed coverage on shares of Evergy (NASDAQ:EVRG) in a research note issued on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $95.00 price target on the stock. TD Cowen’s target price points to a potential upside of 14.25% from the company’s current price.

Other analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Evergy in a research report on Friday, August 7th. BMO Capital Markets dropped their price objective on Evergy from $89.00 to $85.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 13th. Citigroup increased 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. HSBC began coverage on Evergy in a research note on Thursday. They issued a “buy” rating and a $92.00 price target for the company. Finally, Barclays lowered their price target on shares of Evergy from $92.00 to $86.00 and set an “overweight” rating on the stock in a research report on Monday. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Evergy currently has an average rating of “Moderate Buy” and an average target price of $89.42.

Evergy Trading Up 0.3%

Evergy stock opened at $83.15 on Thursday. Evergy has a 12 month low of $71.40 and a 12 month high of $88.62. 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 stock has a market cap of $19.17 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 2.14 and a beta of 0.50. The business has a 50 day moving average price of $81.04 and a two-hundred day moving average price of $82.71.

Evergy (NASDAQ:EVRG) last issued its quarterly 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. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.36 billion. Evergy had a net margin of 15.19% and a return on equity of 9.20%. During the same quarter in the prior year, the company earned $0.82 EPS. As a group, equities analysts forecast that Evergy will post 4.26 EPS for the current year.

Insider Buying and Selling at Evergy

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

Hedge Funds Weigh In On Evergy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Prime Capital Investment Advisors LLC grew its stake in Evergy by 8.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 6,935 shares of the company’s stock worth $544,000 after buying an additional 516 shares during the last quarter. CWA Asset Management Group LLC raised its stake in shares of Evergy by 7.9% in the third quarter. CWA Asset Management Group LLC now owns 4,046 shares of the company’s stock valued at $317,000 after acquiring an additional 297 shares during the last quarter. Retirement Planning Group LLC boosted its holdings in shares of Evergy by 13.8% in the 3rd quarter. Retirement Planning Group LLC now owns 26,991 shares of the company’s stock worth $2,117,000 after acquiring an additional 3,278 shares in the last quarter. Prairie Advisory LLC grew its position in Evergy by 100.2% during the 3rd quarter. Prairie Advisory LLC now owns 11,534 shares of the company’s stock worth $905,000 after acquiring an additional 5,773 shares during the last quarter. Finally, AlphaStar Capital Management LLC grew its position in Evergy by 28.7% during the 3rd quarter. AlphaStar Capital Management LLC now owns 7,213 shares of the company’s stock worth $566,000 after acquiring an additional 1,610 shares during the last quarter. Institutional investors own 87.24% of the company’s stock.

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.