Wells Fargo & Company Boosts Evergy (NYSE:EVRG) Price Target to $69.00

Evergy (NYSE:EVRG) had its price objective raised by Wells Fargo & Company from $65.00 to $69.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 13.21% from the stock’s previous close.

A number of other research firms also recently commented on EVRG. UBS Group upgraded Evergy to a “hold” rating in a research report on Wednesday, September 18th. Jefferies Financial Group began coverage on shares of Evergy in a report on Thursday, September 19th. They issued a “buy” rating and a $70.00 price target for the company. Finally, Barclays boosted their price objective on Evergy from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Evergy presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

Evergy Stock Performance

EVRG traded up $0.61 during midday trading on Wednesday, reaching $60.95. The company had a trading volume of 166,951 shares, compared to its average volume of 2,085,903. Evergy has a 1 year low of $47.46 and a 1 year high of $62.58. The company has a quick ratio of 0.35, a current ratio of 0.59 and a debt-to-equity ratio of 1.23. The company has a market cap of $14.01 billion, a P/E ratio of 19.70, a P/E/G ratio of 2.65 and a beta of 0.62. The business has a 50-day moving average of $59.99 and a two-hundred day moving average of $56.02.

Evergy (NYSE:EVRG) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. Evergy had a net margin of 13.12% and a return on equity of 8.50%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm earned $0.81 EPS. As a group, equities research analysts predict that Evergy will post 3.84 earnings per share for the current fiscal year.

Insider Transactions at Evergy

In related news, SVP Charles A. Caisley sold 9,236 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total value of $550,742.68. Following the transaction, the senior vice president now directly owns 33,425 shares of the company’s stock, valued at $1,993,132.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Charles A. Caisley sold 9,236 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total transaction of $550,742.68. Following the completion of the transaction, the senior vice president now directly owns 33,425 shares in the company, valued at $1,993,132.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ann D. Murtlow sold 3,301 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $58.85, for a total value of $194,263.85. Following the sale, the director now directly owns 2,847 shares in the company, valued at $167,545.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,884 shares of company stock worth $941,810. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Evergy

Large investors have recently made changes to their positions in the company. LaFleur & Godfrey LLC increased its holdings in Evergy by 20.3% in the third quarter. LaFleur & Godfrey LLC now owns 14,792 shares of the company’s stock valued at $917,000 after buying an additional 2,500 shares in the last quarter. Creative Planning grew its position in shares of Evergy by 0.7% during the 3rd quarter. Creative Planning now owns 123,594 shares of the company’s stock valued at $7,664,000 after acquiring an additional 812 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Evergy by 126.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 29,409 shares of the company’s stock valued at $1,824,000 after purchasing an additional 16,443 shares in the last quarter. Stolper Co acquired a new position in Evergy in the 3rd quarter worth about $2,109,000. Finally, Advocate Group LLC raised its holdings in Evergy by 4.3% in the 3rd quarter. Advocate Group LLC now owns 119,650 shares of the company’s stock worth $7,419,000 after purchasing an additional 4,981 shares during the period. 87.24% of the stock is currently 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.