Evergy (NASDAQ:EVRG) Upgraded by Guggenheim to Buy Rating

Evergy (NASDAQ:EVRG) was upgraded by equities researchers at Guggenheim from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday,Finviz reports.

A number of other research analysts also recently commented on the company. Mizuho started coverage on Evergy in a report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price target for the company. Wells Fargo & Company increased their target price on Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. LADENBURG THALM/SH SH raised Evergy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $59.00 to $68.50 in a report on Thursday, January 2nd. Finally, Barclays reduced their target price on Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Evergy has a consensus rating of “Moderate Buy” and an average target price of $65.79.

Evergy Trading Down 1.2 %

Shares of EVRG opened at $62.87 on Thursday. The company has a market capitalization of $14.46 billion, a P/E ratio of 16.99, a P/E/G ratio of 2.78 and a beta of 0.64. Evergy has a one year low of $48.04 and a one year high of $65.47. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. The stock has a 50-day moving average price of $62.45 and a 200 day moving average price of $60.44.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. Evergy’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.88 earnings per share. Sell-side analysts forecast that Evergy will post 3.84 EPS for the current fiscal year.

Insider Transactions at Evergy

In related news, EVP Kevin E. Bryant sold 48,141 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total value of $3,029,513.13. Following the sale, the executive vice president now directly owns 1 shares in the company, valued at $62.93. This trade represents a 100.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.

Institutional Trading of Evergy

Large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its position in shares of Evergy by 5.5% during the 3rd quarter. Franklin Resources Inc. now owns 5,532,719 shares of the company’s stock valued at $330,469,000 after purchasing an additional 288,619 shares during the period. Millennium Management LLC increased its position in shares of Evergy by 38.6% during the 2nd quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock valued at $195,089,000 after purchasing an additional 1,026,374 shares during the period. Point72 Asset Management L.P. increased its position in shares of Evergy by 25.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company’s stock valued at $176,650,000 after purchasing an additional 583,923 shares during the period. Pathway Financial Advisers LLC increased its position in shares of Evergy by 6,854.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company’s stock valued at $157,443,000 after purchasing an additional 2,502,493 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Evergy by 42.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,135,011 shares of the company’s stock valued at $132,392,000 after purchasing an additional 634,735 shares during the period. 87.24% of the stock is currently owned by institutional investors and hedge funds.

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.