Evergy (NYSE:EVRG) Given New $68.00 Price Target at UBS Group

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Evergy (NYSE:EVRG) had its price objective upped by UBS Group from $65.00 to $68.00 in a report issued on Friday, September 20th, AnalystRatings.com reports. UBS Group currently has a neutral rating on the stock.

A number of other equities research analysts have also recently weighed in on EVRG. Guggenheim lifted their price target on Evergy from $65.00 to $70.00 and gave the company a buy rating in a report on Tuesday, August 27th. Zacks Investment Research upgraded shares of Evergy from a sell rating to a hold rating and set a $68.00 price target on the stock in a research report on Wednesday, August 14th. Wells Fargo & Co set a $69.00 price objective on shares of Evergy and gave the stock a hold rating in a research report on Tuesday, September 3rd. Finally, SunTrust Banks boosted their price target on shares of Evergy from $66.00 to $67.00 and gave the company a buy rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $66.43.

NYSE:EVRG traded up $0.48 during mid-day trading on Friday, reaching $63.95. The stock had a trading volume of 1,485,013 shares, compared to its average volume of 1,964,836. The company has a market capitalization of $15.02 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 3.36 and a beta of 0.16. Evergy has a 1-year low of $54.57 and a 1-year high of $67.81. The stock’s 50 day simple moving average is $65.21 and its two-hundred day simple moving average is $61.02. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.44 and a quick ratio of 0.30.

Evergy (NYSE:EVRG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.02). Evergy had a return on equity of 6.44% and a net margin of 11.74%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business posted $0.67 earnings per share. Sell-side analysts anticipate that Evergy will post 2.88 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Thursday, August 29th. Evergy’s payout ratio is 71.16%.

In other news, SVP Heather A. Humphrey sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $66.20, for a total value of $66,200.00. Also, EVP Greg A. Greenwood sold 6,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $63.23, for a total transaction of $379,380.00. The disclosure for this sale can be found here. Insiders sold a total of 11,000 shares of company stock valued at $706,300 in the last three months. Insiders own 0.38% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Magellan Asset Management Ltd boosted its position in Evergy by 1,143.0% during the first quarter. Magellan Asset Management Ltd now owns 2,278,107 shares of the company’s stock worth $132,244,000 after purchasing an additional 2,094,839 shares during the period. Invesco Ltd. raised its stake in Evergy by 34.3% in the second quarter. Invesco Ltd. now owns 4,879,106 shares of the company’s stock valued at $293,478,000 after purchasing an additional 1,246,803 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in Evergy in the first quarter valued at approximately $46,333,000. Nuveen Asset Management LLC raised its stake in Evergy by 147.3% in the second quarter. Nuveen Asset Management LLC now owns 1,312,062 shares of the company’s stock valued at $78,920,000 after purchasing an additional 781,566 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in Evergy in the first quarter valued at approximately $44,363,000. Institutional investors and hedge funds own 84.45% of the company’s stock.

About Evergy

Westar Energy, Inc engages in the generation, transmission and distribution of electricity in Kansas. It provides electricity to residential, commercial, and industrial customers in the cities of Topeka, Lawrence, Manhattan, Salina, and Hutchinson. The company was founded in 1924 and is headquartered in Topeka, KS.

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Analyst Recommendations for Evergy (NYSE:EVRG)

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