Evergy (NASDAQ:EVRG) Research Coverage Started at Truist Financial

Truist Financial assumed coverage on shares of Evergy (NASDAQ:EVRG) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $97.00 price objective on the stock.

EVRG has been the topic of several other reports. Weiss Ratings restated a “buy (b)” rating on shares of Evergy in a research note on Friday, August 7th. HSBC assumed coverage on shares of Evergy in a report on Thursday, October 22nd. They issued a “buy” rating and a $92.00 price objective for the company. BTIG Research set a $94.00 target price on Evergy in a research report on Tuesday, October 20th. BMO Capital Markets reduced their price objective on shares of Evergy from $89.00 to $85.00 and set an “outperform” rating for the company in a research report on Tuesday, October 13th. Finally, Citigroup lifted their target price on Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Evergy Stock Performance

Shares of EVRG stock opened at $85.41 on Tuesday. Evergy has a 12 month low of $71.40 and a 12 month high of $88.62. The company’s fifty day moving average price is $81.22 and its two-hundred day moving average price is $81.92. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.36 and a quick ratio of 0.21. The firm has a market capitalization of $19.69 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.18 and a beta of 0.50.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.07. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.36 billion. Evergy had a return on equity of 9.20% and a net margin of 15.19%. During the same period in the previous year, the business earned $0.82 EPS. On average, research analysts anticipate that Evergy will post 4.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Evergy news, Director Jonathan Rolph bought 1,640 shares of Evergy stock in a transaction on Friday, September 11th. The stock was purchased at an average cost of $81.47 per share, for a total transaction of $133,610.80. Following the completion of the purchase, the director directly owned 670 shares of the company’s stock, valued at $54,584.90. The trade was a -169.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.52% of the company’s stock.

Institutional Trading of Evergy

Large investors have recently made changes to their positions in the stock. MidFirst Bank bought a new stake in Evergy in the 2nd quarter valued at $30,000. Knuff & Co LLC bought a new stake in Evergy during the 2nd quarter worth approximately $30,000. Burk Holdings LLC acquired a new stake in shares of Evergy in the second quarter valued at $31,000. Balance Wealth Partners LLC bought a new position in shares of Evergy in the third quarter worth about $31,000. Finally, Fortitude Family Office LLC lifted its holdings in Evergy by 139.6% during the 3rd quarter. Fortitude Family Office LLC now owns 405 shares of the company’s stock worth $32,000 after buying an additional 236 shares in the last quarter. Institutional investors own 87.24% of the company’s stock.

Evergy Company Profile

Evergy, Inc is an investor-owned electric utility that generates, transmits, distributes and sells electricity to residential, commercial, industrial and municipal customers. The company operates regulated utilities in Kansas and Missouri, providing electric service through its Kansas Central, Kansas South, Missouri Metro and Missouri West operations.

Evergy’s generation portfolio includes wind, solar, coal, natural gas and nuclear power. The company also owns an interest in the Wolf Creek Generating Station, a nuclear power plant in Kansas, and continues to invest in renewable energy, grid modernization and other infrastructure intended to support reliable electricity service.

Evergy was formed in 2018 through the merger of Westar Energy and Great Plains Energy, the parent company of Kansas City Power & Light.