Evergy Inc. (NASDAQ:EVRG) Stock Has Consensus Target Price of $90.00 According to Brokerages

Key Points

• Evergy has a “Moderate Buy” consensus rating from 13 analysts, with 10 buy ratings and three holds. The average 12-month price target is $90.00, modestly above the reported share price of $85.93.
• Recent analyst targets range from $85 to $97. Barclays cut its target to $86, while Citigroup raised its target to $97; BTIG Research set a $94 target.
• Evergy exceeded quarterly expectations, reporting $0.88 in earnings per share versus an $0.81 consensus estimate and revenue of $1.50 billion versus $1.36 billion expected. Institutional investors and hedge funds own 87.24% of the company, while insiders own 1.52%.

Evergy Inc. (NASDAQ:EVRG - Get Free Report) has received an average rating of "Moderate Buy" from the thirteen research firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $90.00.

EVRG has been the subject of several recent research reports. BTIG Research set a $94.00 target price on shares of Evergy in a report on Tuesday, October 20th. DA Davidson set a $85.00 price target on shares of Evergy in a report on Tuesday, October 13th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Evergy in a research note on Friday, October 9th. Barclays lowered their target price on Evergy from $92.00 to $86.00 and set an "overweight" rating on the stock in a report on Monday, October 19th. Finally, Citigroup raised their price target on Evergy from $95.00 to $97.00 and gave the stock a "buy" rating in a research report on Friday, July 24th.

Evergy Stock Up 0.6%

Shares of NASDAQ:EVRG opened at $85.93 on Friday. Evergy has a 1-year low of $71.40 and a 1-year high of $88.62. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.36 and a quick ratio of 0.21. The stock has a market cap of $19.81 billion, a P/E ratio of 21.81, a P/E/G ratio of 2.22 and a beta of 0.50. The firm has a fifty day moving average price of $81.28 and a 200 day moving average price of $81.98.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.81 by $0.07. Evergy had a return on equity of 9.20% and a net margin of 15.19%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business earned $0.82 EPS. Sell-side analysts predict that Evergy will post 4.27 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 bought at an average cost of $81.47 per share, for a total transaction 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. The trade was a -169.07% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Evergy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Provenance Wealth Advisors LLC acquired a new position in shares of Evergy in the 3rd quarter valued at $29,000. MidFirst Bank bought a new position in shares of Evergy in the 2nd quarter worth $30,000. Knuff & Co LLC bought a new position in shares of Evergy in the 2nd quarter worth $30,000. Burk Holdings LLC acquired a new stake in shares of Evergy during the second quarter worth $31,000. Finally, Balance Wealth Partners LLC acquired a new stake in shares of Evergy during the third quarter worth $31,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

About Evergy

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.