Wall Street Zen Upgrades Evergy (NASDAQ:EVRG) to Hold

Evergy (NASDAQ:EVRG) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Several other equities analysts also recently weighed in on EVRG. Citigroup lifted their price target on shares of Evergy from $79.00 to $89.00 and gave the company a “buy” rating in a report on Monday, November 10th. Jefferies Financial Group raised their price objective 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Evergy in a report on Thursday, December 4th. Barclays reissued an “outperform” rating on shares of Evergy in a report on Thursday, October 9th. Finally, Royal Bank Of Canada upgraded Evergy to a “moderate buy” rating in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $80.72.

Evergy Price Performance

Shares of Evergy stock opened at $74.12 on Friday. The stock has a market cap of $17.06 billion, a P/E ratio of 20.31, a P/E/G ratio of 3.20 and a beta of 0.65. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.30 and a current ratio of 0.52. The stock’s fifty day moving average is $76.47 and its 200 day moving average is $72.62. Evergy has a one year low of $59.67 and a one year high of $79.32.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Evergy had a return on equity of 8.66% and a net margin of 14.45%.The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the company earned $2.02 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts anticipate that Evergy will post 3.83 earnings per share for the current year.

Hedge Funds Weigh In On Evergy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVRG. Accredited Wealth Management LLC raised its position in shares of Evergy by 1,310.3% during the 3rd quarter. Accredited Wealth Management LLC now owns 409 shares of the company’s stock valued at $31,000 after buying an additional 380 shares in the last quarter. AlphaCore Capital LLC purchased a new stake in Evergy during the second quarter valued at approximately $33,000. Sentry Investment Management LLC bought a new stake in shares of Evergy in the 3rd quarter valued at approximately $41,000. Root Financial Partners LLC purchased a new position in shares of Evergy in the 3rd quarter worth approximately $44,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Evergy during the 2nd quarter valued at approximately $42,000. 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.