Evergy's (EVRG) "Buy (B-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Evergy's stock was reaffirmed with a "Buy (B-)" rating by Weiss Ratings, indicating strong support from market analysts.
• Mizuho has lifted its target price for Evergy from $74.00 to $77.00, reflecting a positive outlook as nine analysts currently rate the stock as a Buy.
• In its recent earnings report, Evergy exceeded earnings estimates with $0.82 per share, despite a year-over-year decline in revenue by 0.7%.

Evergy (NASDAQ:EVRG - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other equities research analysts also recently weighed in on EVRG. Mizuho increased their target price on shares of Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Jefferies Financial Group set a $78.00 price objective on shares of Evergy and gave the stock a "buy" rating in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. According to MarketBeat, Evergy has a consensus rating of "Buy" and a consensus price target of $74.44.

Evergy Stock Performance

Shares of EVRG opened at $77.83 on Wednesday. The stock has a 50-day simple moving average of $72.87 and a 200-day simple moving average of $69.43. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50. The stock has a market capitalization of $17.91 billion, a PE ratio of 21.38, a PEG ratio of 3.40 and a beta of 0.57. Evergy has a 1 year low of $59.00 and a 1 year high of $78.18.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. The firm had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The firm's revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. On average, analysts predict that Evergy will post 3.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Evergy news, SVP Lesley Lissette Elwell sold 8,000 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $72.33, for a total transaction of $578,640.00. Following the completion of the transaction, the senior vice president directly owned 499 shares in the company, valued at approximately $36,092.67. This trade represents a 94.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.42% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EVRG. Brighton Jones LLC acquired a new stake in shares of Evergy during the fourth quarter valued at $257,000. Merit Financial Group LLC boosted its stake in shares of Evergy by 6.6% during the first quarter. Merit Financial Group LLC now owns 4,663 shares of the company's stock valued at $322,000 after acquiring an additional 288 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of Evergy by 14.8% during the first quarter. Park Avenue Securities LLC now owns 8,966 shares of the company's stock valued at $618,000 after acquiring an additional 1,156 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Evergy by 124.3% during the first quarter. Farther Finance Advisors LLC now owns 6,068 shares of the company's stock valued at $419,000 after acquiring an additional 3,363 shares during the last quarter. Finally, Pallas Capital Advisors LLC boosted its stake in shares of Evergy by 7.0% during the first quarter. Pallas Capital Advisors LLC now owns 10,855 shares of the company's stock valued at $748,000 after acquiring an additional 708 shares during the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

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.

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