Barclays Increases Evergy (NASDAQ:EVRG) Price Target to $72.00

Evergy (NASDAQ:EVRG) had its price objective increased by equities research analysts at Barclays from $62.00 to $72.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 9.42% from the stock’s current price.

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

Evergy Price Performance

Evergy stock opened at $65.80 on Friday. The stock’s fifty day moving average price is $64.55 and its two-hundred day moving average price is $62.51. Evergy has a one year low of $49.55 and a one year high of $69.93. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. The firm has a market cap of $15.13 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 2.82 and a beta of 0.62.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.11). Evergy had a return on equity of 8.77% and a net margin of 14.77%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. As a group, research analysts expect that Evergy will post 3.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Evergy during the 4th quarter worth approximately $1,728,000. Mackenzie Financial Corp grew its position in shares of Evergy by 38.3% during the 4th quarter. Mackenzie Financial Corp now owns 156,238 shares of the company’s stock worth $9,616,000 after buying an additional 43,289 shares during the period. Retirement Planning Group LLC increased its stake in shares of Evergy by 0.9% in the 4th quarter. Retirement Planning Group LLC now owns 24,372 shares of the company’s stock valued at $1,500,000 after acquiring an additional 210 shares in the last quarter. Woodline Partners LP acquired a new position in shares of Evergy during the 4th quarter valued at $850,000. Finally, iSAM Funds UK Ltd acquired a new position in shares of Evergy during the 4th quarter valued at $840,000. 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.