Evergy (NASDAQ:EVRG) Stock Price Expected to Rise, UBS Group Analyst Says

Evergy (NASDAQ:EVRG) had its price objective upped by analysts at UBS Group from $66.00 to $68.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 0.61% from the stock’s current price.

A number of other brokerages have also issued reports on EVRG. Barclays boosted their target price on shares of Evergy from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Guggenheim raised shares of Evergy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, LADENBURG THALM/SH SH raised shares of Evergy to a “strong-buy” rating in a research note on Monday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Evergy has an average rating of “Buy” and a consensus target price of $68.36.

Evergy Price Performance

Shares of NASDAQ EVRG traded down $0.38 during mid-day trading on Friday, hitting $67.59. 511,724 shares of the company’s stock traded hands, compared to its average volume of 1,801,926. The company has a market capitalization of $15.55 billion, a P/E ratio of 18.25, a PEG ratio of 2.82 and a beta of 0.62. Evergy has a 1 year low of $49.55 and a 1 year high of $69.93. The company’s 50-day moving average is $65.58 and its two-hundred day moving average is $63.00. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.35 earnings per share 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 firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. On average, equities analysts anticipate that Evergy will post 3.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Evergy

Hedge funds and other institutional investors have recently bought and sold shares of the business. 111 Capital purchased a new stake in shares of Evergy in the 4th quarter valued at $341,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Evergy by 33.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,249 shares of the company’s stock valued at $2,046,000 after purchasing an additional 8,385 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Evergy during the 4th quarter worth about $1,728,000. Mackenzie Financial Corp lifted its holdings in shares of Evergy by 38.3% in the 4th quarter. Mackenzie Financial Corp now owns 156,238 shares of the company’s stock valued at $9,616,000 after buying an additional 43,289 shares during the period. Finally, Retirement Planning Group LLC grew its holdings in Evergy by 0.9% during the fourth quarter. Retirement Planning Group LLC now owns 24,372 shares of the company’s stock worth $1,500,000 after acquiring an additional 210 shares during the period. Institutional investors and hedge funds own 87.24% of the company’s stock.

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.