Barclays Issues Positive Forecast for Evergy (NASDAQ:EVRG) Stock Price

Evergy (NASDAQ:EVRG) had its price target hoisted by Barclays from $72.00 to $73.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on EVRG. Guggenheim raised Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. UBS Group lifted their price objective on Evergy from $66.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, LADENBURG THALM/SH SH upgraded shares of Evergy to a “strong-buy” rating in a report on Monday, March 17th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $69.25.

Evergy Price Performance

Evergy stock opened at $68.28 on Tuesday. The firm has a market capitalization of $15.71 billion, a PE ratio of 18.45, a P/E/G ratio of 2.82 and a beta of 0.52. Evergy has a 52 week low of $51.69 and a 52 week high of $70.30. The firm’s 50-day simple moving average is $67.28 and its 200 day simple moving average is $64.14. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.11). Evergy had a net margin of 14.77% and a return on equity of 8.77%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. On average, equities research analysts predict that Evergy will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $0.6675 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.67 annualized dividend and a yield of 3.91%. Evergy’s payout ratio is currently 70.45%.

Institutional Trading of Evergy

Hedge funds have recently added to or reduced their stakes in the business. Bfsg LLC acquired a new stake in shares of Evergy in the first quarter worth approximately $25,000. Lee Danner & Bass Inc. acquired a new position in shares of Evergy in the 4th quarter valued at $26,000. National Pension Service purchased a new stake in shares of Evergy during the 4th quarter valued at $30,000. Bank of Jackson Hole Trust acquired a new stake in shares of Evergy during the 4th quarter worth $31,000. Finally, Colonial Trust Co SC purchased a new position in shares of Evergy in the 4th quarter worth $32,000. 87.24% of the stock is owned by institutional investors and hedge funds.

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.