Evergy, Inc. (NASDAQ:EVRG) Receives $61.88 Average PT from Brokerages

Shares of Evergy, Inc. (NASDAQ:EVRG) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $61.88.

A number of analysts recently issued reports on the company. UBS Group raised Evergy to a “hold” rating in a report on Wednesday, September 18th. Jefferies Financial Group assumed coverage on shares of Evergy in a report on Thursday, September 19th. They issued a “buy” rating and a $70.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Barclays lowered their target price on shares of Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Mizuho initiated coverage on shares of Evergy in a research report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price target for the company.

Evergy Price Performance

EVRG opened at $61.70 on Thursday. The firm has a 50-day moving average price of $62.34 and a 200-day moving average price of $59.29. Evergy has a twelve month low of $48.04 and a twelve month high of $65.47. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 2.75 and a beta of 0.64.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. Evergy’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.88 EPS. Equities analysts expect that Evergy will post 3.84 EPS for the current year.

Evergy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Thursday, November 21st were issued a $0.6675 dividend. This is a positive change from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.33%. Evergy’s dividend payout ratio is presently 72.16%.

Insider Transactions at Evergy

In related news, EVP Kevin E. Bryant sold 48,141 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total value of $3,029,513.13. Following the transaction, the executive vice president now owns 1 shares of the company’s stock, valued at $62.93. This represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Evergy

Several hedge funds have recently added to or reduced their stakes in EVRG. Franklin Resources Inc. increased its position in shares of Evergy by 5.5% during the 3rd quarter. Franklin Resources Inc. now owns 5,532,719 shares of the company’s stock valued at $330,469,000 after purchasing an additional 288,619 shares during the last quarter. Millennium Management LLC boosted its stake in Evergy by 38.6% in the second quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock worth $195,089,000 after buying an additional 1,026,374 shares in the last quarter. Federated Hermes Inc. grew its position in Evergy by 18.8% during the second quarter. Federated Hermes Inc. now owns 3,490,674 shares of the company’s stock valued at $184,901,000 after acquiring an additional 552,455 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Evergy by 25.8% during the third quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company’s stock worth $176,650,000 after acquiring an additional 583,923 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of Evergy by 6,854.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company’s stock worth $157,443,000 after acquiring an additional 2,502,493 shares during the last quarter. Institutional investors own 87.24% of the company’s stock.

Evergy Company Profile

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.