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

Evergy (NASDAQ:EVRG) had its price target boosted by research analysts at BMO Capital Markets from $88.00 to $92.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 6.39% from the stock’s current price.

EVRG has been the subject of a number of other reports. Weiss Ratings raised Evergy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. BTIG Research started coverage on shares of Evergy in a research note on Thursday, April 9th. They set a “buy” rating and a $99.00 price objective on the stock. Bank of America cut their target price on shares of Evergy from $89.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. UBS Group boosted their target price on shares of Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, Barclays increased their price target on shares of Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Evergy currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.60.

Evergy Stock Performance

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

Evergy (NASDAQ:EVRG) last issued its 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. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.27 billion. Evergy had a return on equity of 9.09% and a net margin of 14.63%.The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 earnings per share. As a group, research analysts anticipate that Evergy will post 4.24 earnings per share for the current fiscal year.

Insider Transactions at Evergy

In other news, Director Sandra Aj Lawrence sold 761 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $83.31, for a total value of $63,398.91. Following the completion of the sale, the director directly owned 1,680 shares in the company, valued at $139,960.80. The trade was a 31.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles A. Caisley sold 10,787 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $83.46, for a total value of $900,283.02. Following the completion of the sale, the executive vice president owned 37,789 shares of the company’s stock, valued at $3,153,869.94. This trade represents a 22.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 12,748 shares of company stock valued at $1,061,870 in the last ninety days. 1.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. MidFirst Bank purchased a new stake in Evergy in the 4th quarter worth $25,000. Harbor Capital Advisors Inc. purchased a new position in Evergy during the fourth quarter valued at $27,000. Prosperity Bancshares Inc purchased a new position in Evergy during the fourth quarter valued at $32,000. Triumph Capital Management grew its position in shares of Evergy by 104.8% in the fourth quarter. Triumph Capital Management now owns 508 shares of the company’s stock valued at $37,000 after purchasing an additional 260 shares during the period. Finally, Transamerica Financial Advisors LLC grew its position in shares of Evergy by 163.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 529 shares of the company’s stock valued at $38,000 after purchasing an additional 328 shares during the period. Hedge funds and other institutional investors own 87.24% of the company’s stock.

About Evergy

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.