Barclays Cuts Evergy (NYSE:EVRG) Price Target to $65.00

Evergy (NYSE:EVRG) had its price objective lowered by Barclays from $67.00 to $65.00 in a research note released on Monday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other analysts have also issued research reports about the stock. UBS Group upgraded shares of Evergy to a “hold” rating in a research report on Wednesday, September 18th. Wells Fargo & Company raised their target price on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group assumed coverage on shares of Evergy in a research report on Thursday, September 19th. They issued a “buy” rating and a $70.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.14.

Evergy Stock Performance

NYSE EVRG opened at $61.96 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.35 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $14.25 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 2.65 and a beta of 0.62. The firm’s 50 day simple moving average is $60.28 and its 200 day simple moving average is $56.36. Evergy has a 1 year low of $47.97 and a 1 year high of $62.58.

Evergy (NYSE:EVRG) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. Evergy had a net margin of 13.12% and a return on equity of 8.50%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business posted $0.81 EPS. As a group, research analysts expect that Evergy will post 3.84 earnings per share for the current fiscal year.

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.6425 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $2.57 dividend on an annualized basis and a dividend yield of 4.15%. Evergy’s dividend payout ratio (DPR) is presently 83.17%.

Insider Transactions at Evergy

In related news, Director Ann D. Murtlow sold 3,301 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total value of $194,263.85. Following the transaction, the director now owns 2,847 shares in the company, valued at $167,545.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Charles A. Caisley sold 9,236 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total value of $550,742.68. Following the transaction, the senior vice president now owns 33,425 shares in the company, valued at $1,993,132.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann D. Murtlow sold 3,301 shares of Evergy stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total transaction of $194,263.85. Following the completion of the sale, the director now directly owns 2,847 shares of the company’s stock, valued at approximately $167,545.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,884 shares of company stock worth $941,810. Company insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Evergy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fairscale Capital LLC bought a new stake in Evergy in the second quarter valued at $27,000. Fidelis Capital Partners LLC bought a new stake in Evergy in the first quarter valued at $32,000. Hexagon Capital Partners LLC increased its stake in Evergy by 47.1% in the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after purchasing an additional 170 shares in the last quarter. Toth Financial Advisory Corp increased its stake in Evergy by 199.5% in the first quarter. Toth Financial Advisory Corp now owns 635 shares of the company’s stock valued at $34,000 after purchasing an additional 423 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of Evergy during the second quarter worth about $37,000. 87.24% of the stock is owned by institutional investors.

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.