Citigroup Forecasts Strong Price Appreciation for Evergy (NASDAQ:EVRG) Stock

Evergy (NASDAQ:EVRG) had its price objective boosted by equities researchers at Citigroup from $77.00 to $79.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 18.03% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. LADENBURG THALM/SH SH raised Evergy to a “strong-buy” rating in a research report on Thursday, May 8th. UBS Group raised Evergy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $78.00 in a research report on Monday, April 28th. BMO Capital Markets started coverage on Evergy in a research report on Tuesday, May 13th. They set an “outperform” rating and a $75.00 price objective for the company. Barclays increased their price objective on Evergy from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 22nd. Finally, Guggenheim raised Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Evergy has a consensus rating of “Buy” and an average target price of $72.44.

Evergy Trading Up 1.9%

NASDAQ:EVRG opened at $66.93 on Friday. The stock has a 50-day simple moving average of $67.31 and a 200-day simple moving average of $64.95. The stock has a market cap of $15.40 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.82 and a beta of 0.53. Evergy has a 1 year low of $52.10 and a 1 year high of $70.36. 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 (NASDAQ:EVRG) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.12). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.21 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. During the same period in the prior year, the company posted $0.54 earnings per share. As a group, analysts anticipate that Evergy will post 3.83 earnings per share for the current fiscal year.

Institutional Trading of Evergy

Several hedge funds have recently modified their holdings of EVRG. Nuveen LLC acquired a new stake in shares of Evergy in the 1st quarter valued at approximately $212,132,000. ExodusPoint Capital Management LP increased its stake in Evergy by 164.8% in the 4th quarter. ExodusPoint Capital Management LP now owns 2,312,953 shares of the company’s stock valued at $142,362,000 after purchasing an additional 1,439,450 shares in the last quarter. GAMMA Investing LLC increased its stake in Evergy by 8,154.8% in the 1st quarter. GAMMA Investing LLC now owns 973,574 shares of the company’s stock valued at $67,128,000 after purchasing an additional 961,780 shares in the last quarter. Maple Brown Abbott Ltd purchased a new position in Evergy in the 1st quarter valued at approximately $63,444,000. Finally, SG Americas Securities LLC increased its stake in Evergy by 15,406.4% in the 4th quarter. SG Americas Securities LLC now owns 921,546 shares of the company’s stock valued at $56,721,000 after purchasing an additional 915,603 shares in the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Company Profile

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.