Mizuho Forecasts Strong Price Appreciation for Evergy (NASDAQ:EVRG) Stock

Evergy (NASDAQ:EVRG - Get Free Report) had its price target increased by investment analysts at Mizuho from $70.00 to $74.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's price objective would indicate a potential upside of 9.08% from the company's current price.

Several other equities analysts have also commented on the company. Barclays reduced their price target on Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Jefferies Financial Group set a $78.00 target price on Evergy and gave the stock a "buy" rating in a report on Tuesday, June 10th. LADENBURG THALM/SH SH raised Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Wall Street Zen lowered Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, BMO Capital Markets assumed coverage on shares of Evergy in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Evergy currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.06.

Evergy Price Performance

NASDAQ:EVRG opened at $67.84 on Friday. The firm has a market cap of $15.61 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 2.95 and a beta of 0.50. The company has a 50 day moving average price of $67.30 and a 200-day moving average price of $66.44. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.29. Evergy has a 1-year low of $54.76 and a 1-year high of $70.36.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 8.84% and a net margin of 14.87%. During the same quarter last year, the company earned $0.54 earnings per share. Equities research analysts forecast that Evergy will post 3.83 EPS for the current year.

Institutional Trading of Evergy

Several institutional investors have recently modified their holdings of the stock. Sowell Financial Services LLC purchased a new stake in shares of Evergy in the 1st quarter valued at approximately $267,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Evergy in the 4th quarter valued at $1,728,000. Brighton Jones LLC purchased a new stake in Evergy in the 4th quarter valued at $257,000. Farther Finance Advisors LLC raised its position in Evergy by 124.3% in the 1st quarter. Farther Finance Advisors LLC now owns 6,068 shares of the company's stock valued at $419,000 after purchasing an additional 3,363 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Evergy by 9.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,263 shares of the company's stock worth $2,500,000 after acquiring an additional 3,014 shares during the period. Institutional investors and hedge funds own 87.24% of the company's stock.

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.

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