Evergy (NASDAQ:EVRG) has been given an average broker rating score of 1.86 (Buy) from the seven brokers that provide coverage for the company, Zacks Investment Research reports. Three analysts have rated the stock with a hold recommendation and four have given a strong buy recommendation to the company. Evergy’s rating score has improved by 7% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Brokerages have set a 12-month consensus price target of $60.33 for the company and are predicting that the company will post $1.20 earnings per share for the current quarter, according to Zacks. Zacks has also given Evergy an industry rank of 90 out of 255 based on the ratings given to related companies.
Several equities analysts have weighed in on EVRG shares. UBS Group cut their price target on Evergy from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, September 21st. Wells Fargo & Co set a $62.00 price target on Evergy and gave the company a “buy” rating in a report on Friday. Guggenheim started coverage on Evergy in a report on Friday, June 15th. They set a “buy” rating and a $58.00 price target for the company. Finally, Zacks Investment Research upgraded Evergy from a “sell” rating to a “hold” rating and set a $63.00 price target for the company in a report on Monday, August 6th.
Evergy (NASDAQ:EVRG) last issued its earnings results on Thursday, August 9th. The company reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. The business had revenue of $893.40 million for the quarter, compared to the consensus estimate of $623.51 million. The firm’s revenue for the quarter was up 46.6% compared to the same quarter last year. During the same period last year, the business posted $0.50 EPS.
The company also recently declared a dividend, which was paid on Thursday, September 20th. Shareholders of record on Wednesday, August 29th were issued a dividend of $0.46 per share. The ex-dividend date was Tuesday, August 28th.
In other Evergy news, SVP Jerl L. Banning sold 8,770 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $57.75, for a total transaction of $506,467.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Ruelle sold 43,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $57.51, for a total value of $2,501,685.00. The disclosure for this sale can be found here. Insiders have sold a total of 106,620 shares of company stock valued at $6,136,954 in the last 90 days.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVRG. BlackRock Inc. purchased a new position in shares of Evergy in the 2nd quarter worth approximately $1,068,152,000. FMR LLC purchased a new position in shares of Evergy in the 2nd quarter worth approximately $437,286,000. Commonwealth Bank of Australia purchased a new position in shares of Evergy in the 2nd quarter worth approximately $337,943,000. Renaissance Technologies LLC purchased a new position in shares of Evergy in the 2nd quarter worth approximately $301,928,000. Finally, Millennium Management LLC purchased a new position in shares of Evergy in the 2nd quarter worth approximately $224,008,000.
Evergy Company Profile
Westar Energy, Inc engages in the generation, transmission and distribution of electricity in Kansas. It provides electricity to residential, commercial, and industrial customers in the cities of Topeka, Lawrence, Manhattan, Salina, and Hutchinson. The company was founded in 1924 and is headquartered in Topeka, KS.
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