Evergy (NASDAQ:EVRG) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised Evergy’s price target from $88 to $92 and kept an outperform rating, implying about 6.4% upside from the current price.
• Wall Street sentiment remains constructive overall, with eight Buy ratings and three Hold ratings; the consensus target is $90.60 and several firms recently adjusted their targets higher.
• Evergy shares rose to $86.48 and the company recently beat quarterly earnings estimates, reporting $0.69 EPS versus $0.63 expected and revenue of $1.44 billion versus $1.27 billion expected.

Evergy (NASDAQ:EVRG - Get Free Report) had its price objective hoisted by research analysts at BMO Capital Markets from $88.00 to $92.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. BMO Capital Markets' target price would indicate a potential upside of 6.39% from the company's current price.

A number of other equities research analysts have also recently commented on the stock. Bank of America decreased their target price on shares of Evergy from $89.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Barclays upped their price target on Evergy from $89.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 30th. Wells Fargo & Company set a $87.00 price objective on Evergy in a report on Tuesday, April 21st. Weiss Ratings raised Evergy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 11th. Finally, BTIG Research began coverage on Evergy in a research note on Thursday, April 9th. They set a "buy" rating and a $99.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and three have assigned 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 $90.60.

Evergy Trading Up 1.8%

Shares of Evergy stock traded up $1.56 during trading on Wednesday, hitting $86.48. The stock had a trading volume of 614,994 shares, compared to its average volume of 2,073,951. The firm's fifty day simple moving average is $84.19 and its 200-day simple moving average is $81.43. The stock has a market cap of $19.93 billion, a PE ratio of 22.93, a PEG ratio of 2.21 and a beta of 0.54. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.45 and a quick ratio of 0.24. Evergy has a 12 month low of $68.05 and a 12 month high of $88.62.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.06. Evergy had a net margin of 14.63% and a return on equity of 9.09%. The firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.27 billion. During the same period in the previous year, the company earned $0.54 EPS. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts expect that Evergy will post 4.24 EPS for the current fiscal year.

Insider Buying and Selling at Evergy

In other news, EVP Charles A. Caisley sold 10,787 shares of the business's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $83.46, for a total transaction of $900,283.02. Following the sale, the executive vice president directly owned 37,789 shares of the company's stock, valued at $3,153,869.94. The trade was a 22.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sandra Aj Lawrence sold 600 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $81.41, for a total value of $48,846.00. Following the completion of the transaction, the director directly owned 680 shares in the company, valued at approximately $55,358.80. The trade was a 46.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,748 shares of company stock valued at $1,061,870 over the last quarter. Insiders own 1.52% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EVRG. Geode Capital Management LLC boosted its position in Evergy by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 6,447,150 shares of the company's stock valued at $465,684,000 after buying an additional 105,842 shares during the last quarter. Franklin Resources Inc. raised its position in Evergy by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 6,091,518 shares of the company's stock worth $441,574,000 after buying an additional 33,457 shares during the last quarter. Federated Hermes Inc. lifted its stake in Evergy by 1.6% during the 4th quarter. Federated Hermes Inc. now owns 3,760,548 shares of the company's stock valued at $272,602,000 after acquiring an additional 57,814 shares during the period. Northern Trust Corp boosted its holdings in shares of Evergy by 10.6% in the 3rd quarter. Northern Trust Corp now owns 2,760,494 shares of the company's stock valued at $209,853,000 after acquiring an additional 263,619 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of Evergy by 28.4% in the 4th quarter. Truist Financial Corp now owns 1,847,410 shares of the company's stock valued at $133,919,000 after acquiring an additional 408,452 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Company Profile

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.

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.