Guggenheim Upgrades Evergy (NASDAQ:EVRG) to Buy

Evergy (NASDAQ:EVRG - Get Free Report) was upgraded by Guggenheim from a "neutral" rating to a "buy" rating in a report issued on Thursday, MarketBeat reports.

A number of other brokerages also recently issued reports on EVRG. Mizuho started coverage on Evergy in a research note on Tuesday, October 29th. They issued an "outperform" rating and a $67.00 target price for the company. Barclays cut their price objective on shares of Evergy from $67.00 to $65.00 and set an "overweight" rating for the company in a research report on Monday, October 21st. LADENBURG THALM/SH SH upgraded shares of Evergy from a "neutral" rating to a "buy" rating and boosted their target price for the company from $59.00 to $68.50 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company raised their price target on shares of Evergy from $65.00 to $69.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Evergy currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.79.

Evergy Price Performance

Shares of Evergy stock traded up $0.19 during trading hours on Thursday, reaching $63.06. 2,132,762 shares of the company's stock were exchanged, compared to its average volume of 1,730,333. The business has a fifty day moving average of $62.45 and a two-hundred day moving average of $60.44. The company has a market capitalization of $14.50 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. Evergy has a 1 year low of $48.04 and a 1 year high of $65.47.

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

Insider Activity at Evergy

In related news, EVP Kevin E. Bryant sold 48,141 shares of the business's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the completion of the transaction, the executive vice president now directly owns 1 shares of the company's stock, valued at $62.93. The trade was a 100.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.47% of the company's stock.

Hedge Funds Weigh In On Evergy

Several hedge funds and other institutional investors have recently made changes to their positions in EVRG. Franklin Resources Inc. increased its holdings in shares of Evergy by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 5,532,719 shares of the company's stock valued at $330,469,000 after acquiring an additional 288,619 shares during the last quarter. Millennium Management LLC raised its holdings in Evergy by 38.6% during the second quarter. Millennium Management LLC now owns 3,683,000 shares of the company's stock worth $195,089,000 after purchasing an additional 1,026,374 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Evergy by 25.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company's stock worth $176,650,000 after buying an additional 583,923 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Evergy by 6,854.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company's stock worth $157,443,000 after buying an additional 2,502,493 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Evergy by 42.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,135,011 shares of the company's stock valued at $132,392,000 after buying an additional 634,735 shares in the last quarter. Hedge funds and other institutional investors 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.