BMO Capital Markets Initiates Coverage on Evergy (NASDAQ:EVRG)

Investment analysts at BMO Capital Markets assumed coverage on shares of Evergy (NASDAQ:EVRG) in a report released on Tuesday,Benzinga reports. The brokerage set an “outperform” rating and a $75.00 price target on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 14.77% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Barclays lifted their target price on shares of Evergy from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, April 22nd. UBS Group upgraded shares of Evergy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $68.00 to $78.00 in a research report on Monday, April 28th. Finally, LADENBURG THALM/SH SH raised shares of Evergy to a “strong-buy” rating in a research note on Thursday, May 8th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $71.50.

Evergy Stock Down 1.9%

Shares of NASDAQ EVRG opened at $65.35 on Tuesday. Evergy has a one year low of $52.10 and a one year high of $70.36. The business’s fifty day moving average price is $67.32 and its 200-day moving average price is $64.84. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. The stock has a market capitalization of $15.03 billion, a PE ratio of 17.66, a P/E/G ratio of 2.82 and a beta of 0.53.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.12). The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. During the same period last year, the business posted $0.54 earnings per share. On average, equities research analysts anticipate that Evergy will post 3.83 EPS for the current year.

Institutional Investors Weigh In On Evergy

A number of hedge funds have recently modified their holdings of the business. Bfsg LLC purchased a new stake in Evergy in the first quarter valued at $25,000. Lee Danner & Bass Inc. acquired a new position in Evergy in the fourth quarter valued at approximately $26,000. National Pension Service purchased a new position in shares of Evergy in the 4th quarter valued at $30,000. Bank of Jackson Hole Trust purchased a new stake in shares of Evergy in the 4th quarter valued at about $31,000. Finally, Colonial Trust Co SC purchased a new position in shares of Evergy during the fourth quarter worth approximately $32,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Company Profile

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.