Barclays Cuts Evergy (NASDAQ:EVRG) Price Target to $62.00

Evergy (NASDAQ:EVRG) had its target price cut by Barclays from $65.00 to $62.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company increased their price objective on shares of Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. LADENBURG THALM/SH SH upgraded shares of Evergy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $59.00 to $68.50 in a research report on Thursday, January 2nd. Mizuho assumed coverage on shares of Evergy in a research report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price objective for the company. Finally, Guggenheim raised Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.36.

Evergy Stock Down 0.3 %

Shares of EVRG opened at $63.02 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15. Evergy has a 12 month low of $48.04 and a 12 month high of $65.47. The firm’s 50 day moving average is $62.41 and its 200-day moving average is $60.77. The stock has a market capitalization of $14.49 billion, a PE ratio of 17.03, a P/E/G ratio of 2.75 and a beta of 0.64.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.07. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $1.88 EPS. Equities research analysts forecast that Evergy will post 3.84 EPS for the current year.

Evergy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.6675 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 annualized dividend and a dividend yield of 4.24%. Evergy’s dividend payout ratio is 72.16%.

Insider Activity at Evergy

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 1 shares in the company, valued at approximately $62.93. This trade represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EVRG. Van ECK Associates Corp grew its holdings in Evergy by 8.5% during the 4th quarter. Van ECK Associates Corp now owns 116,709 shares of the company’s stock worth $7,184,000 after acquiring an additional 9,140 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Evergy by 102.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 60,494 shares of the company’s stock worth $3,729,000 after purchasing an additional 30,563 shares during the period. Kentucky Trust Co acquired a new position in shares of Evergy during the fourth quarter worth $284,000. Quent Capital LLC grew its stake in shares of Evergy by 4.6% in the fourth quarter. Quent Capital LLC now owns 3,692 shares of the company’s stock worth $227,000 after purchasing an additional 163 shares during the last quarter. Finally, Summit Trail Advisors LLC increased its holdings in Evergy by 46.5% in the fourth quarter. Summit Trail Advisors LLC now owns 6,915 shares of the company’s stock valued at $426,000 after purchasing an additional 2,195 shares during the period. Institutional investors and hedge funds own 87.24% of the company’s stock.

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.