FY2024 Earnings Estimate for Evergy Issued By Zacks Research

Evergy, Inc. (NASDAQ:EVRG) – Analysts at Zacks Research reduced their FY2024 earnings per share estimates for shares of Evergy in a research report issued to clients and investors on Monday, January 6th. Zacks Research analyst R. Department now expects that the company will earn $3.84 per share for the year, down from their prior estimate of $3.85. The consensus estimate for Evergy’s current full-year earnings is $3.84 per share. Zacks Research also issued estimates for Evergy’s Q4 2024 earnings at $0.38 EPS, Q3 2025 earnings at $2.00 EPS, Q4 2026 earnings at $0.52 EPS and FY2026 earnings at $4.26 EPS.

Other research analysts have also recently issued reports about the stock. LADENBURG THALM/SH SH upgraded shares of Evergy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $68.50 in a report on Thursday, January 2nd. UBS Group upgraded shares of Evergy to a “hold” rating in a report on Wednesday, September 18th. Barclays dropped their price target on Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Mizuho started coverage on shares of Evergy in a report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.06.

Evergy Price Performance

EVRG stock opened at $60.91 on Wednesday. The company has a market capitalization of $14.01 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. Evergy has a 52-week low of $48.04 and a 52-week high of $65.47. The business has a 50-day simple moving average of $62.38 and a two-hundred day simple moving average of $59.81. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.07. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.88 EPS.

Hedge Funds Weigh In On Evergy

Institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. boosted its holdings 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 acquiring an additional 288,619 shares during the last quarter. Millennium Management LLC increased its position in Evergy by 38.6% during the second quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock valued at $195,089,000 after acquiring an additional 1,026,374 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Evergy by 18.8% in 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 period. Point72 Asset Management L.P. boosted its position in Evergy by 25.8% in the third quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company’s stock worth $176,650,000 after purchasing an additional 583,923 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its position in shares of Evergy by 6,854.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company’s stock valued at $157,443,000 after purchasing an additional 2,502,493 shares during the last quarter. Institutional investors own 87.24% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kevin E. Bryant sold 48,141 shares of Evergy stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the sale, the executive vice president now directly owns 1 shares in the company, valued at $62.93. The trade was a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by insiders.

Evergy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Thursday, November 21st. This is a positive change from Evergy’s previous quarterly dividend of $0.64. Evergy’s dividend payout ratio is 72.16%.

About Evergy

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.