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

Evergy, Inc. (NASDAQ:EVRG) has received an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $61.88.

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

Evergy Stock Down 0.6 %

Shares of EVRG stock opened at $62.96 on Friday. The stock has a market cap of $14.48 billion, a P/E ratio of 17.02, a PEG ratio of 2.81 and a beta of 0.64. Evergy has a 52 week low of $48.04 and a 52 week 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’s fifty day simple moving average is $61.97 and its two-hundred day simple moving average is $58.49.

Evergy (NASDAQ:EVRG) last issued 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. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the firm earned $1.88 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. Analysts predict that Evergy will post 3.85 EPS for the current fiscal year.

Evergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, November 21st will be issued a $0.6675 dividend. This is a boost from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.67 dividend on an annualized basis and a yield of 4.24%. Evergy’s payout ratio is presently 72.16%.

Insiders Place Their Bets

In related news, EVP Kevin E. Bryant sold 48,141 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 1 shares of the company’s stock, valued at approximately $62.93. This represents a 100.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

Institutional Trading of Evergy

Several institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. lifted 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 buying an additional 288,619 shares in the last quarter. Synovus Financial Corp lifted its holdings in Evergy by 97.6% during the third quarter. Synovus Financial Corp now owns 17,420 shares of the company’s stock valued at $1,080,000 after purchasing an additional 8,604 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Evergy in the third quarter valued at about $1,030,000. World Investment Advisors LLC increased its stake in shares of Evergy by 3.9% during the third quarter. World Investment Advisors LLC now owns 5,715 shares of the company’s stock worth $354,000 after purchasing an additional 212 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its position in shares of Evergy by 45.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 23,942 shares of the company’s stock worth $1,539,000 after purchasing an additional 7,472 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

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.