Barclays Issues Pessimistic Forecast for Evergy (NASDAQ:EVRG) Stock Price

Evergy (NASDAQ:EVRG) had its price target lowered by stock analysts at Barclays from $65.00 to $62.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 1.91% from the company’s previous close.

Several other analysts also recently weighed in on EVRG. Wells Fargo & Company raised their target price on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. LADENBURG THALM/SH SH upgraded Evergy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $59.00 to $68.50 in a research note on Thursday, January 2nd. Guggenheim raised Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Mizuho began coverage on Evergy in a research note on Tuesday, October 29th. They set an “outperform” rating and a $67.00 target price for the company. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Evergy currently has a consensus rating of “Moderate Buy” and an average price target of $65.36.

Evergy Price Performance

EVRG stock opened at $63.21 on Monday. The firm has a market cap of $14.54 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. Evergy has a 1 year low of $48.04 and a 1 year high of $65.47. The stock has a 50-day simple moving average of $62.44 and a 200-day simple moving average of $60.76.

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

Insiders Place Their Bets

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 owns 1 shares of the company’s stock, valued at approximately $62.93. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Evergy

Hedge funds have recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board increased its holdings in shares of Evergy by 49.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 39,037 shares of the company’s stock worth $2,068,000 after acquiring an additional 13,001 shares during the period. MBB Public Markets I LLC acquired a new position in shares of Evergy during the second quarter valued at $893,000. The Manufacturers Life Insurance Company raised its stake in shares of Evergy by 2.4% during the second quarter. The Manufacturers Life Insurance Company now owns 738,756 shares of the company’s stock valued at $39,132,000 after purchasing an additional 17,074 shares in the last quarter. Scientech Research LLC acquired a new stake in Evergy in the second quarter worth about $294,000. Finally, Creative Planning grew its position in Evergy by 15.3% in the 2nd quarter. Creative Planning now owns 122,782 shares of the company’s stock valued at $6,504,000 after buying an additional 16,307 shares in the last quarter. 87.24% of the stock is currently 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.