Evergy (NASDAQ:EVRG) Raised to Hold at Wells Fargo & Company

Evergy (NASDAQ:EVRG) was upgraded by research analysts at Wells Fargo & Company to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

EVRG has been the subject of several other reports. Barclays restated an “outperform” rating on shares of Evergy in a research report on Thursday, October 9th. Royal Bank Of Canada upgraded shares of Evergy to a “moderate buy” rating in a research report on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Evergy in a research report on Wednesday, October 8th. Mizuho lifted their price target on shares of Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, Jefferies Financial Group lifted their price target on shares of Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $79.61.

Evergy Trading Down 1.0%

Shares of EVRG stock opened at $76.94 on Tuesday. The firm has a 50 day moving average price of $74.50 and a two-hundred day moving average price of $70.63. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $17.71 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57. Evergy has a 12-month low of $59.23 and a 12-month high of $79.32.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.45 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business posted $0.90 earnings per share. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. As a group, analysts predict that Evergy will post 3.83 earnings per share for the current year.

Insider Transactions at Evergy

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $72.33, for a total value of $578,640.00. Following the transaction, the senior vice president directly owned 499 shares of the company’s stock, valued at $36,092.67. This trade represents a 94.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Olde Wealth Management LLC bought a new position in Evergy in the first quarter valued at approximately $32,000. LRI Investments LLC bought a new position in Evergy in the first quarter valued at approximately $32,000. Clearstead Trust LLC bought a new stake in shares of Evergy during the first quarter worth $32,000. AlphaCore Capital LLC bought a new stake in shares of Evergy during the second quarter worth $33,000. Finally, Cary Street Partners Investment Advisory LLC bought a new stake in shares of Evergy during the first quarter worth $34,000. 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.