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

Stock analysts at BMO Capital Markets started coverage on shares of Evergy (NASDAQ:EVRG - Get Free Report) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set an "outperform" rating and a $75.00 price target on the stock. BMO Capital Markets' price objective suggests a potential upside of 12.06% from the stock's previous close.

Other analysts have also recently issued reports about the stock. Barclays upped their target price on shares of Evergy from $72.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, April 22nd. LADENBURG THALM/SH SH raised shares of Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Guggenheim raised shares of Evergy from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Finally, UBS Group raised shares of Evergy from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $68.00 to $78.00 in a research report on Monday, April 28th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $72.44.

Evergy Price Performance

Shares of NASDAQ EVRG traded up $1.23 during mid-day trading on Tuesday, hitting $66.93. 2,287,145 shares of the company's stock traded hands, compared to its average volume of 1,965,057. The company's 50-day moving average is $67.31 and its two-hundred day moving average is $64.91. 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 company has a market capitalization of $15.40 billion, a P/E ratio of 18.09, a PEG ratio of 2.82 and a beta of 0.53. Evergy has a 1 year low of $52.10 and a 1 year high of $70.36.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.54 earnings per share (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 net margin of 14.77% and a return on equity of 8.77%. During the same quarter in the prior year, the company posted $0.54 earnings per share. On average, equities analysts anticipate that Evergy will post 3.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Evergy

A number of institutional investors have recently modified their holdings of the stock. Horizon Investments LLC increased its position in shares of Evergy by 4.9% during the first quarter. Horizon Investments LLC now owns 3,353 shares of the company's stock worth $231,000 after acquiring an additional 158 shares during the period. Miller Howard Investments Inc. NY increased its position in shares of Evergy by 1.4% during the fourth quarter. Miller Howard Investments Inc. NY now owns 11,741 shares of the company's stock worth $723,000 after acquiring an additional 162 shares during the period. Quent Capital LLC increased its position in shares of Evergy by 4.6% during the fourth quarter. Quent Capital LLC now owns 3,692 shares of the company's stock worth $227,000 after acquiring an additional 163 shares during the period. Stolper Co increased its position in shares of Evergy by 0.5% during the first quarter. Stolper Co now owns 34,630 shares of the company's stock worth $2,388,000 after acquiring an additional 169 shares during the period. Finally, Mather Group LLC. increased its position in shares of Evergy by 5.7% during the fourth quarter. Mather Group LLC. now owns 3,231 shares of the company's stock worth $199,000 after acquiring an additional 173 shares during the period. 87.24% of the stock is owned by hedge funds and other institutional investors.

About Evergy

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.