Credit Suisse Group Downgrades Evergy (NYSE:EVRG) to Underperform

Credit Suisse Group cut shares of Evergy (NYSE:EVRGGet Rating) from an outperform rating to an underperform rating in a report released on Tuesday morning, MarketBeat.com reports. They currently have $57.00 target price on the stock, down from their prior target price of $61.00.

A number of other equities research analysts have also recently issued reports on EVRG. Guggenheim reduced their target price on shares of Evergy from $77.00 to $64.00 in a research report on Monday, October 24th. Bank of America cut shares of Evergy from a neutral rating to an underperform rating and reduced their target price for the company from $64.00 to $54.00 in a research report on Wednesday, November 23rd. Seaport Res Ptn cut shares of Evergy from a buy rating to a neutral rating in a research report on Monday, November 21st. UBS Group cut their price objective on shares of Evergy to $65.00 in a research report on Monday, November 21st. Finally, Wells Fargo & Company cut their price objective on shares of Evergy from $72.00 to $63.00 and set an equal weight rating for the company in a research report on Wednesday, October 19th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $62.50.

Evergy Trading Down 0.6 %

Shares of Evergy stock opened at $58.50 on Tuesday. The firm has a 50-day moving average of $59.42 and a 200-day moving average of $64.51. The stock has a market cap of $13.43 billion, a PE ratio of 16.91, a PEG ratio of 3.39 and a beta of 0.51. Evergy has a 52-week low of $54.12 and a 52-week high of $73.13. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.35 and a current ratio of 0.52.

Evergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 20th. Investors of record on Friday, November 18th will be given a dividend of $0.6125 per share. This is a boost from Evergy’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, November 17th. This represents a $2.45 annualized dividend and a yield of 4.19%. Evergy’s dividend payout ratio is currently 70.81%.

Institutional Investors Weigh In On Evergy

A number of hedge funds have recently made changes to their positions in EVRG. Capital International Investors boosted its stake in shares of Evergy by 40.7% in the 1st quarter. Capital International Investors now owns 13,048,060 shares of the company’s stock valued at $891,704,000 after purchasing an additional 3,777,012 shares in the last quarter. State Street Corp boosted its stake in shares of Evergy by 10.8% in the 1st quarter. State Street Corp now owns 13,874,020 shares of the company’s stock valued at $948,151,000 after purchasing an additional 1,356,321 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Evergy by 45.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,454,848 shares of the company’s stock valued at $236,104,000 after purchasing an additional 1,074,847 shares in the last quarter. Manning & Napier Group LLC boosted its stake in shares of Evergy by 248.0% in the 3rd quarter. Manning & Napier Group LLC now owns 1,200,374 shares of the company’s stock valued at $71,301,000 after purchasing an additional 855,407 shares in the last quarter. Finally, Cohen & Steers Inc. boosted its stake in shares of Evergy by 30.5% in the 1st quarter. Cohen & Steers Inc. now owns 2,248,183 shares of the company’s stock valued at $153,641,000 after purchasing an additional 525,589 shares in the last quarter. 84.37% of the stock is currently owned by institutional investors and hedge funds.

Evergy Company Profile

(Get Rating)

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Kansas and Missouri, the United States. It generates electricity through coal, hydroelectric, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources.

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Analyst Recommendations for Evergy (NYSE:EVRG)

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