Evergy (NASDAQ:EVRG) Downgraded to Market Perform at Wells Fargo & Co

Wells Fargo & Co lowered shares of Evergy (NASDAQ:EVRG) from an outperform rating to a market perform rating in a research report report published on Wednesday morning, 24/7 WallStreet reports. The analysts noted that the move was a valuation call.

Several other research firms also recently weighed in on EVRG. UBS Group lifted their target price on Evergy from $58.00 to $61.00 and gave the stock a neutral rating in a research report on Friday, June 7th. SunTrust Banks lifted their target price on Evergy from $66.00 to $67.00 and gave the stock a buy rating in a research report on Friday, August 9th. Finally, Zacks Investment Research upgraded Evergy from a sell rating to a hold rating and set a $68.00 target price for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Evergy currently has an average rating of Hold and a consensus price target of $62.67.

NASDAQ:EVRG opened at $64.45 on Wednesday. Evergy has a twelve month low of $54.19 and a twelve month high of $64.92. The stock has a fifty day simple moving average of $61.32 and a 200-day simple moving average of $58.81.

Evergy (NASDAQ:EVRG) last released its earnings results on Wednesday, August 7th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.02). The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the business posted $0.67 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $1.90 annualized dividend and a dividend yield of 2.95%.

In other news, SVP Heather A. Humphrey sold 1,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $58.24, for a total transaction of $58,240.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Greg A. Greenwood sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $59.32, for a total value of $296,600.00. The disclosure for this sale can be found here.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Evergy by 2.7% during the first quarter. BlackRock Inc. now owns 20,259,245 shares of the company’s stock valued at $1,176,051,000 after buying an additional 539,149 shares during the period. Invesco Ltd. grew 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 during the last quarter. Commonwealth Bank of Australia grew its stake in Evergy by 1.8% in the second quarter. Commonwealth Bank of Australia now owns 4,100,212 shares of the company’s stock valued at $246,616,000 after purchasing an additional 74,101 shares during the last quarter. Janus Henderson Group PLC grew its stake in Evergy by 19.4% in the first quarter. Janus Henderson Group PLC now owns 4,057,234 shares of the company’s stock valued at $235,523,000 after purchasing an additional 658,342 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Evergy by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 3,525,405 shares of the company’s stock valued at $199,800,000 after purchasing an additional 212,498 shares during the last quarter.

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 (NASDAQ:EVRG)

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