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

Evergy (NYSE:EVRG) had its price target hoisted by equities researchers at Wells Fargo & Company from $65.00 to $69.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 13.52% from the stock’s previous close.

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

Evergy Stock Down 0.6 %

Evergy stock opened at $60.78 on Wednesday. The company has a 50 day moving average of $60.06 and a 200-day moving average of $56.09. 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 stock has a market capitalization of $13.98 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 2.65 and a beta of 0.62. Evergy has a twelve month low of $47.46 and a twelve month high of $62.58.

Evergy (NYSE:EVRG) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.32 billion. Evergy had a net margin of 13.12% and a return on equity of 8.50%. During the same quarter in the previous year, the firm posted $0.81 earnings per share. On average, equities research analysts anticipate that Evergy will post 3.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other Evergy news, SVP Heather A. Humphrey sold 3,347 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $58.80, for a total transaction of $196,803.60. Following the sale, the senior vice president now directly owns 35,314 shares of the company’s stock, valued at approximately $2,076,463.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Evergy news, SVP Heather A. Humphrey sold 3,347 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $58.80, for a total value of $196,803.60. Following the transaction, the senior vice president now directly owns 35,314 shares in the company, valued at $2,076,463.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann D. Murtlow sold 3,301 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total transaction of $194,263.85. Following the completion of the transaction, the director now owns 2,847 shares in the company, valued at approximately $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 three months, insiders have sold 15,884 shares of company stock valued at $941,810. 0.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Evergy

Several institutional investors and hedge funds have recently modified their holdings of EVRG. Manning & Napier Advisors LLC acquired a new position in shares of Evergy in the second quarter valued at about $112,464,000. Zimmer Partners LP grew its stake in shares of Evergy by 781.4% in the first quarter. Zimmer Partners LP now owns 2,326,385 shares of the company’s stock valued at $124,182,000 after acquiring an additional 2,062,434 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Evergy by 4.8% in 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 in the last quarter. Millennium Management LLC grew its stake in shares of Evergy by 38.6% in the second quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock valued at $195,089,000 after acquiring an additional 1,026,374 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Evergy in the second quarter valued at about $50,044,000. 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.