Evergy (NASDAQ:EVRG) Raised to “Moderate Buy” at Royal Bank Of Canada

Evergy (NASDAQ:EVRG) was upgraded by research analysts at Royal Bank Of Canada to a “moderate buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Barclays reissued an “outperform” rating on shares of Evergy in a research report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Evergy in a research note on Wednesday, October 8th. Wells Fargo & Company assumed coverage on Evergy in a research note on Monday. They issued an “equal weight” rating and a $77.00 price objective on the stock. Jefferies Financial Group upped their price objective on Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Finally, Mizuho upped their price objective on Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. One 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 MarketBeat, the company has a consensus rating of “Buy” and an average price target of $79.61.

Evergy Stock Down 1.0%

EVRG stock opened at $76.94 on Tuesday. Evergy has a twelve month low of $59.23 and a twelve month high of $79.32. The company has a market cap 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. The business’s 50-day simple moving average is $74.50 and its 200 day simple moving average is $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.

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

Insider Transactions at Evergy

In other Evergy news, SVP Lesley Lissette Elwell sold 8,000 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $72.33, for a total transaction of $578,640.00. Following the transaction, the senior vice president owned 499 shares of the company’s stock, valued at approximately $36,092.67. This represents a 94.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.42% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EVRG. Nuveen LLC acquired a new position in Evergy during the 1st quarter worth $212,132,000. Magellan Asset Management Ltd lifted its holdings in Evergy by 1,418.7% during the 2nd quarter. Magellan Asset Management Ltd now owns 2,364,493 shares of the company’s stock worth $162,985,000 after buying an additional 2,208,799 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Evergy by 346.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,046,787 shares of the company’s stock worth $155,597,000 after buying an additional 1,588,100 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Evergy by 969.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,329,424 shares of the company’s stock worth $101,063,000 after buying an additional 1,205,101 shares in the last quarter. Finally, Maple Brown Abbott Ltd acquired a new position in Evergy during the 1st quarter worth $63,444,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

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.