Evergy (NYSE:EVRG) Stock Rating Lowered by The Goldman Sachs Group

Evergy (NYSE:EVRG) was downgraded by stock analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, Analyst Ratings Network reports. They presently have a $72.00 price target on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 9.36% from the stock’s previous close.

EVRG has been the subject of a number of other research reports. Bank of America lowered Evergy from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research report on Wednesday, September 15th. Evercore ISI reiterated a “buy” rating and set a $70.00 target price on shares of Evergy in a research report on Wednesday, September 22nd. Finally, Wells Fargo & Company lowered their price objective on Evergy from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 22nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $68.00.

Shares of Evergy stock opened at $65.84 on Thursday. The stock has a fifty day simple moving average of $66.29 and a 200 day simple moving average of $65.36. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 1.00. Evergy has a 12-month low of $51.92 and a 12-month high of $69.45. The company has a market capitalization of $15.10 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 3.10 and a beta of 0.45.

Evergy (NYSE:EVRG) last released its quarterly earnings data on Wednesday, November 3rd. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.21. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.58 billion. Evergy had a return on equity of 9.37% and a net margin of 15.78%. During the same period in the previous year, the company posted $1.73 EPS. On average, analysts predict that Evergy will post 3.53 EPS for the current year.

In other news, Director C John Wilder acquired 7,180 shares of the firm’s stock in a transaction dated Friday, November 5th. The stock was acquired at an average cost of $64.56 per share, with a total value of $463,540.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders acquired a total of 132,320 shares of company stock valued at $8,686,196 in the last three months. 0.47% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Midwest Wealth Management Inc. grew its position in Evergy by 10.4% during the second quarter. Midwest Wealth Management Inc. now owns 19,934 shares of the company’s stock worth $1,205,000 after buying an additional 1,874 shares during the period. Scout Investments Inc. increased its position in shares of Evergy by 16.7% in the third quarter. Scout Investments Inc. now owns 1,186,369 shares of the company’s stock worth $73,792,000 after acquiring an additional 169,523 shares in the last quarter. Royal Bank of Canada grew its holdings in Evergy by 5.3% during the 2nd quarter. Royal Bank of Canada now owns 1,029,538 shares of the company’s stock valued at $62,214,000 after purchasing an additional 51,415 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Evergy by 12.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 41,999 shares of the company’s stock worth $2,538,000 after buying an additional 4,792 shares during the last quarter. Finally, Kentucky Retirement Systems bought a new stake in Evergy in the 2nd quarter valued at about $807,000. Institutional investors own 86.26% of the company’s stock.

About Evergy

Evergy, Inc is a holding company, which engages in the provision of electricity through its subsidiaries. It focuses on the regulation of electric utilities and development of electric transmission projects. The company was founded in 2017 and is headquartered in Kansas City, MO.

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