LADENBURG THALM/SH SH Upgrades Evergy (NASDAQ:EVRG) to "Buy"

Evergy (NASDAQ:EVRG - Get Free Report) was upgraded by analysts at LADENBURG THALM/SH SH from a "neutral" rating to a "buy" rating in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage presently has a $68.50 target price on the stock, up from their previous target price of $59.00. LADENBURG THALM/SH SH's price objective would indicate a potential upside of 11.13% from the company's previous close.

A number of other research analysts have also recently weighed in on the company. Mizuho assumed coverage on Evergy in a research report on Tuesday, October 29th. They issued an "outperform" rating and a $67.00 price target for the company. Wells Fargo & Company lifted their target price on Evergy from $65.00 to $69.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Barclays dropped their price target on shares of Evergy from $67.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Jefferies Financial Group started coverage on Evergy in a research report on Thursday, September 19th. They set a "buy" rating and a $70.00 price target on the stock. Finally, UBS Group upgraded shares of Evergy to a "hold" rating in a research report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $64.06.

Evergy Trading Up 0.1 %

Shares of NASDAQ EVRG traded up $0.09 during trading on Thursday, hitting $61.64. 1,634,053 shares of the company were exchanged, compared to its average volume of 2,043,055. The company has a fifty day moving average price of $62.34 and a 200-day moving average price of $59.51. The firm has a market capitalization of $14.18 billion, a PE ratio of 16.66, a P/E/G ratio of 2.75 and a beta of 0.64. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. Evergy has a 12-month low of $48.04 and a 12-month high of $65.47.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.95 by $0.07. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter last year, the company posted $1.88 EPS. The firm's revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts expect that Evergy will post 3.84 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Kevin E. Bryant sold 48,141 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total value of $3,029,513.13. Following the completion of the transaction, the executive vice president now owns 1 shares of the company's stock, valued at $62.93. This represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On Evergy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVRG. Fairscale Capital LLC acquired a new stake in Evergy in the 2nd quarter valued at $27,000. Truvestments Capital LLC acquired a new position in Evergy during the third quarter worth about $32,000. Hexagon Capital Partners LLC grew its stake in Evergy by 47.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 531 shares of the company's stock valued at $33,000 after acquiring an additional 170 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Evergy in the 2nd quarter valued at about $37,000. Finally, Benjamin Edwards Inc. lifted its stake in Evergy by 47.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 856 shares of the company's stock worth $45,000 after purchasing an additional 277 shares in the last quarter. 87.24% of the stock is currently owned by hedge funds and other 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.