Evergy, Inc. (NASDAQ:EVRG) Receives $61.88 Consensus Price Target from Analysts

Evergy, Inc. (NASDAQ:EVRG) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $61.88.

Several research firms have commented on EVRG. Jefferies Financial Group began coverage on Evergy in a research report on Thursday, September 19th. They issued a “buy” rating and a $70.00 target price for the company. Mizuho started coverage on shares of Evergy in a report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 target price on the stock. UBS Group raised shares of Evergy to a “hold” rating in a research note on Wednesday, September 18th. Barclays reduced their price objective 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, Wells Fargo & Company raised their target price on Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th.

Evergy Trading Up 0.0 %

Shares of Evergy stock opened at $61.55 on Thursday. The firm’s 50 day moving average is $62.34 and its 200 day moving average is $59.51. The firm has a market capitalization of $14.16 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. Evergy has a 1 year low of $48.04 and a 1 year high of $65.47. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15.

Evergy (NASDAQ:EVRG) last posted its 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. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the firm posted $1.88 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. Equities research analysts forecast that Evergy will post 3.84 earnings per share for the current fiscal year.

Evergy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.6675 per share. This is an increase from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Thursday, November 21st. Evergy’s dividend payout ratio (DPR) is presently 72.16%.

Insider Transactions at Evergy

In other news, EVP Kevin E. Bryant sold 48,141 shares of Evergy stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $62.93, for a total value of $3,029,513.13. Following the completion of the sale, the executive vice president now owns 1 shares in the company, valued at $62.93. The trade was a 100.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Evergy

Several hedge funds and other institutional investors have recently bought and sold shares of EVRG. 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 purchasing an additional 2,502,493 shares in the last quarter. Mizuho Securities USA LLC raised its holdings in Evergy by 7,234.3% during the third quarter. Mizuho Securities USA LLC now owns 1,300,000 shares of the company’s stock worth $80,613,000 after buying an additional 1,282,275 shares during the last quarter. FMR LLC lifted its stake in shares of Evergy by 131.4% in the third quarter. FMR LLC now owns 2,004,414 shares of the company’s stock valued at $124,294,000 after buying an additional 1,138,138 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Evergy by 38.6% in the 2nd quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock worth $195,089,000 after acquiring an additional 1,026,374 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Evergy in the 2nd quarter valued at about $50,044,000. 87.24% of the stock is owned by institutional investors.

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.