Barclays Forecasts Strong Price Appreciation for Evergy (NASDAQ:EVRG) Stock

Evergy (NASDAQ:EVRG) had its target price increased by research analysts at Barclays from $62.00 to $72.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 8.67% from the stock’s current price.

EVRG has been the topic of several other research reports. LADENBURG THALM/SH SH upgraded Evergy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $59.00 to $68.50 in a report on Thursday, January 2nd. Guggenheim raised Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Evergy currently has an average rating of “Moderate Buy” and an average target price of $66.79.

Evergy Stock Performance

Evergy stock traded up $0.53 during midday trading on Friday, hitting $66.26. 336,852 shares of the company were exchanged, compared to its average volume of 1,795,451. Evergy has a fifty-two week low of $49.55 and a fifty-two week high of $69.93. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. The business has a fifty day simple moving average of $64.39 and a two-hundred day simple moving average of $62.41. The firm has a market capitalization of $15.24 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 2.82 and a beta of 0.62.

Evergy (NASDAQ:EVRG) last released its earnings results on Thursday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.11). The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. On average, sell-side analysts forecast that Evergy will post 3.83 earnings per share for the current year.

Hedge Funds Weigh In On Evergy

Hedge funds have recently bought and sold shares of the company. ExodusPoint Capital Management LP increased its holdings in shares of Evergy by 164.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 2,312,953 shares of the company’s stock valued at $142,362,000 after acquiring an additional 1,439,450 shares in the last quarter. Mizuho Securities USA LLC boosted its holdings in Evergy by 7,234.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 1,300,000 shares of the company’s stock worth $80,613,000 after acquiring an additional 1,282,275 shares during the last quarter. FMR LLC grew its position in Evergy by 131.4% in the 3rd quarter. FMR LLC now owns 2,004,414 shares of the company’s stock worth $124,294,000 after purchasing an additional 1,138,138 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Evergy by 15,406.4% during the fourth quarter. SG Americas Securities LLC now owns 921,546 shares of the company’s stock worth $56,721,000 after acquiring an additional 915,603 shares during the period. Finally, Brandes Investment Partners LP purchased a new position in shares of Evergy in the 4th quarter worth about $55,652,000. Institutional investors 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.