It is Poised to be a Bull Market for Evergy Inc. (EVRG)

Evergy Inc. (NYSE: EVRG) stock fell -0.11% on Friday to $65.88 against a previous-day closing price of $65.95. With 1.03 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.94 million shares. During the session, the Utilities – Regulated Electric company that operates in wider Utilities sector, reached to the highest price of $66.27 whereas the lowest price it dropped to was $65.39. The 52-week range on EVRG shows that it touched its highest point at $73.12 and its lowest point at $59.34 during that stretch. It currently has a 1-year price target of $72.22. With its current market cap of 15.23 billion, EVRG has annualized dividend of $2.29 while the current yield stands at 3.48%. Beta for the stock currently stands at 0.49.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EVRG was down-trending over the past week, with a drop of -2.49%, but this was down by -5.91% over a month. Three-month performance surged to 5.51% while six-month performance rose 1.12%. The stock gained 4.85% in the past year, while it has lost -3.98% so far this year. A look at the trailing 12-month EPS for EVRG yields 3.56 with Next year EPS estimates of 3.77. For the next quarter, that number is 1.87. This implies an EPS growth rate of 41.00% for this year and 5.96% for next year. EPS is expected to grow by 3.71% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 9.60%.

Float and Shares Shorts:

At present, 229.90 million EVRG shares are outstanding with a float of 229.02 million shares on hand for trading. On Jul 14, 2022, short shares totaled 2.17 million, which was 0.95% higher than short shares on Jun 14, 2022. In addition to Mr. David A. Campbell as the firm’s Pres, CEO & Director, Mr. Kirkland B. Andrews serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 85.47% of EVRG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.42% of EVRG, in contrast to 28.30% held by mutual funds. Shares owned by individuals account for 1.52%. As the largest shareholder in EVRG with 12.40% of the stake, The Vanguard Group, Inc. holds 28,470,469 shares worth 28,470,469. A second-largest stockholder of EVRG, Capital Research & Management Co, holds 18,933,798 shares, controlling over 8.25% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in EVRG, holding 14,451,034 shares or 6.30% stake. With a 2.96% stake in EVRG, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 6,788,631 shares are owned by the mutual fund manager. The Washington Mutual Investors Fund, which owns about 2.69% of EVRG stock, is the second-largest Mutual Fund holder. It holds 6,172,512 shares valued at 423.0 million. Vanguard Mid Cap Index Fund holds 2.30% of the stake in EVRG, owning 5,269,669 shares worth 361.13 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EVRG since 11 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With EVRG analysts setting a high price target of $77.00 and a low target of $67.00, the average target price over the next 12 months is $72.22. Based on these targets, EVRG could surge 16.88% to reach the target high and rise by 1.7% to reach the target low. Reaching the average price target will result in a growth of 9.62% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. EVRG will report FY 2022 earnings on 02/24/2023. Analysts have provided yearly estimates in a range of $3.60 being high and $3.46 being low. For EVRG, this leads to a yearly average estimate of $3.56. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Evergy Inc. surprised analysts by $0.03 when it reported $0.86 EPS against a consensus estimate of $0.83. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is $1.96 and the low estimate is $1.77. The average estimate for the next quarter is thus $1.86.

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