Evergy (NASDAQ:EVRG) Price Target Raised to $89.00 at Barclays

Evergy (NASDAQ:EVRG) had its target price raised by equities research analysts at Barclays from $82.00 to $89.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 8.86% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Mizuho set a $82.00 target price on Evergy in a research note on Monday, February 23rd. 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 raised Evergy from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. BMO Capital Markets upped their price target on Evergy from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Monday, February 23rd. Finally, UBS Group lowered Evergy from a “buy” rating to a “neutral” rating and raised their price objective for the company from $86.00 to $88.00 in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Evergy currently has a consensus rating of “Moderate Buy” and an average price target of $87.75.

Evergy Trading Down 1.9%

Shares of NASDAQ EVRG traded down $1.60 during mid-day trading on Monday, hitting $81.76. The stock had a trading volume of 411,109 shares, compared to its average volume of 2,221,451. The business has a 50 day moving average price of $77.78 and a two-hundred day moving average price of $75.85. Evergy has a 1 year low of $61.94 and a 1 year high of $85.23. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.27 and a current ratio of 0.49. The firm has a market cap of $18.83 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 3.31 and a beta of 0.65.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings results on Saturday, January 31st. The company reported $0.42 earnings per share for the quarter. Evergy had a net margin of 14.35% and a return on equity of 8.79%. On average, equities analysts anticipate that Evergy will post 3.83 EPS for the current fiscal year.

Insider Activity

In related news, Director Ann D. Murtlow sold 2,847 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $82.34, for a total value of $234,421.98. Following the transaction, the director owned 2,311 shares in the company, valued at $190,287.74. The trade was a 55.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Evergy

Institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC boosted its stake in Evergy by 24.2% during the 4th quarter. Hsbc Holdings PLC now owns 1,215,208 shares of the company’s stock valued at $88,119,000 after purchasing an additional 237,046 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Evergy by 2,466.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,490 shares of the company’s stock worth $253,000 after purchasing an additional 3,354 shares during the last quarter. Sit Investment Associates Inc. bought a new position in shares of Evergy during the fourth quarter valued at $6,577,000. MidFirst Bank bought a new position in shares of Evergy during the fourth quarter valued at $25,000. Finally, DGS Capital Management LLC boosted its position in shares of Evergy by 15.2% during the fourth quarter. DGS Capital Management LLC now owns 12,757 shares of the company’s stock valued at $925,000 after buying an additional 1,685 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

About Evergy

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.