Wells Fargo & Company Increases Evergy (NYSE:EVRG) Price Target to $62.00

Evergy (NYSE:EVRG) had its price objective hoisted by Wells Fargo & Company from $57.00 to $62.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 11.63% from the stock’s previous close.

Other analysts have also issued reports about the company. Guggenheim lowered Evergy from a “buy” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a research note on Monday, January 22nd. Citigroup started coverage on Evergy in a research report on Tuesday, March 26th. They set a “buy” rating and a $64.00 target price for the company. Barclays boosted their target price on Evergy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Bank of America upgraded Evergy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $51.00 to $57.00 in a research report on Wednesday, March 13th. Finally, LADENBURG THALM/SH SH began coverage on Evergy in a report on Thursday, April 4th. They issued a “neutral” rating and a $51.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.83.

Evergy Price Performance

Shares of NYSE:EVRG traded down $0.18 during trading on Friday, reaching $55.54. 1,983,566 shares of the company traded hands, compared to its average volume of 2,513,464. The company has a quick ratio of 0.29, a current ratio of 0.51 and a debt-to-equity ratio of 1.14. Evergy has a 52 week low of $46.92 and a 52 week high of $63.39. The firm has a market capitalization of $12.76 billion, a PE ratio of 17.45, a PEG ratio of 2.82 and a beta of 0.57. The company’s 50 day moving average is $52.07 and its two-hundred day moving average is $51.27.

Evergy (NYSE:EVRG) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.07). The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.35 billion. Evergy had a return on equity of 8.47% and a net margin of 13.28%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 EPS. As a group, sell-side analysts predict that Evergy will post 3.84 earnings per share for the current year.

Institutional Investors Weigh In On Evergy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Evergy by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 30,757,415 shares of the company’s stock valued at $1,605,537,000 after acquiring an additional 1,399,199 shares during the period. Invesco Ltd. grew its position in Evergy by 5.1% in the third quarter. Invesco Ltd. now owns 5,379,004 shares of the company’s stock worth $272,716,000 after acquiring an additional 261,664 shares in the last quarter. Point72 Asset Management L.P. grew its position in Evergy by 1,038.7% in the fourth quarter. Point72 Asset Management L.P. now owns 3,612,200 shares of the company’s stock worth $188,557,000 after acquiring an additional 3,294,967 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Evergy by 1.4% in the third quarter. Northern Trust Corp now owns 2,958,136 shares of the company’s stock valued at $149,977,000 after purchasing an additional 40,916 shares during the period. Finally, Federated Hermes Inc. increased its position in shares of Evergy by 41.3% during the fourth quarter. Federated Hermes Inc. now owns 2,942,415 shares of the company’s stock worth $153,594,000 after purchasing an additional 860,433 shares in the last quarter. 87.24% of the stock is owned by institutional investors.

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.