Evergy Inc., a US based utility corporation, has been undergoing significant fluctuation. Evergy's stock
(NASDAQ:EVRG) declined by 3.0% and is down 20% since the last earnings report, instigating considerations of drastic measures by institutional investors. Although some, such as
UBS Group AG,
Quadrant Capital Group LLC, and
Principal Securities Inc., increased their stake, major investors such as
Coldstream Capital Management Inc.,
Retirement Systems of Alabama, and
Teacher Retirement System of Texas have reduced their positions.
The Q1 2024 earnings missed estimates, however, revenues were up Y/Y. Q4 earnings also missed estimates, leading to a year-on-year sales decrease. Expectations of earnings growth are set for the coming weeks despite Q3 2023 seeing a drop in adjusted EPS. Yet, the company has an attractive valuation, likely to promise stronger load growth. Also, Evergy's maintaining a lowest-cost approach and its dividends attract investors, suggesting potential rebound. However, there is a concern about Evergy’s method of capital allocation, its ROE and the evidence of insider selling.
Major Analysts rating Evergy is “Moderate Buy” with the price target raised to $62.00.
Evergy EVRG News Analytics from Fri, 04 Nov 2022 07:00:00 GMT to Sun, 26 May 2024 19:35:07 GMT -
Rating -4
- Innovation -3
- Information 2
- Rumor -4
