Evergy (NYSE:EVRG) PT Lowered to $67.00 at UBS Group

Evergy (NYSE:EVRG) had its price target cut by UBS Group from $68.00 to $67.00 in a research note released on Friday, BenzingaRatingsTable reports. They currently have a neutral rating on the stock.

EVRG has been the topic of a number of other research reports. Wells Fargo & Co set a $69.00 price target on Evergy and gave the company a hold rating in a report on Tuesday, September 3rd. SunTrust Banks boosted their price target on Evergy from $66.00 to $67.00 and gave the company a buy rating in a report on Friday, August 9th. ValuEngine downgraded Evergy from a buy rating to a hold rating in a report on Wednesday, October 2nd. Guggenheim boosted 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. Finally, Zacks Investment Research upgraded Evergy from a sell rating to a hold rating and set a $68.00 price target on the stock in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $66.29.

NYSE:EVRG traded up $0.15 during mid-day trading on Friday, reaching $63.31. 1,976,138 shares of the company’s stock traded hands, compared to its average volume of 2,081,142. Evergy has a 12-month low of $54.57 and a 12-month high of $67.81. The firm has a market capitalization of $14.87 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 3.33 and a beta of 0.16. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.44 and a quick ratio of 0.30. The company has a 50 day moving average price of $65.04 and a 200-day moving average price of $61.22.

Evergy (NYSE:EVRG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). Evergy had a net margin of 11.74% and a return on equity of 6.44%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. As a group, analysts forecast that Evergy will post 2.88 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were given a dividend of $0.475 per share. The ex-dividend date was Thursday, August 29th. This represents a $1.90 annualized dividend and a yield of 3.00%. Evergy’s payout ratio is 71.16%.

In other Evergy news, EVP Greg A. Greenwood sold 6,000 shares of Evergy stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $63.23, for a total transaction of $379,380.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Kevin E. Bryant sold 4,000 shares of Evergy stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $65.18, for a total value of $260,720.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,000 shares of company stock worth $706,300. Insiders own 0.38% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its position in shares of Evergy by 66.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 424 shares of the company’s stock worth $26,000 after purchasing an additional 169 shares in the last quarter. Miller Howard Investments Inc. NY boosted its position in shares of Evergy by 0.3% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 52,127 shares of the company’s stock worth $3,135,000 after purchasing an additional 176 shares in the last quarter. 6 Meridian boosted its position in shares of Evergy by 2.2% in the 2nd quarter. 6 Meridian now owns 8,623 shares of the company’s stock worth $519,000 after purchasing an additional 189 shares in the last quarter. Prudential PLC boosted its position in shares of Evergy by 0.9% in the 2nd quarter. Prudential PLC now owns 21,735 shares of the company’s stock worth $1,307,000 after purchasing an additional 189 shares in the last quarter. Finally, Tdam USA Inc. boosted its position in shares of Evergy by 3.3% in the 2nd quarter. Tdam USA Inc. now owns 7,464 shares of the company’s stock worth $449,000 after purchasing an additional 235 shares in the last quarter. 84.40% of the stock is currently owned by institutional investors and hedge funds.

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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