Evergy (NYSE:EVRG – Get Rating) released its quarterly earnings data on Thursday. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02, Briefing.com reports. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.23 billion. Evergy had a return on equity of 8.89% and a net margin of 15.16%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company posted $0.85 earnings per share.
Evergy Stock Performance
Shares of EVRG traded down $0.41 during mid-day trading on Friday, reaching $67.83. 670,058 shares of the company’s stock traded hands, compared to its average volume of 966,398. The business’s 50-day moving average price is $65.59 and its 200-day moving average price is $66.01. The stock has a market capitalization of $15.57 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 3.78 and a beta of 0.49. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.33 and a current ratio of 0.50. Evergy has a 12 month low of $59.34 and a 12 month high of $73.13.
Evergy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Friday, August 19th will be issued a dividend of $0.5725 per share. The ex-dividend date is Thursday, August 18th. This represents a $2.29 dividend on an annualized basis and a dividend yield of 3.38%. Evergy’s dividend payout ratio (DPR) is presently 64.51%.
Institutional Investors Weigh In On Evergy
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its holdings in Evergy by 3.5% during the first quarter. Advisors Asset Management Inc. now owns 7,753 shares of the company’s stock worth $530,000 after purchasing an additional 265 shares in the last quarter. Horizon Investments LLC grew its position in Evergy by 21.3% in the first quarter. Horizon Investments LLC now owns 6,488 shares of the company’s stock worth $443,000 after buying an additional 1,138 shares during the last quarter. Prudential PLC acquired a new position in Evergy in the first quarter worth approximately $411,000. Cibc World Market Inc. grew its position in Evergy by 25.8% in the first quarter. Cibc World Market Inc. now owns 5,924 shares of the company’s stock worth $405,000 after buying an additional 1,214 shares during the last quarter. Finally, Dakota Wealth Management grew its position in Evergy by 84.3% in the first quarter. Dakota Wealth Management now owns 5,404 shares of the company’s stock worth $370,000 after buying an additional 2,472 shares during the last quarter. Institutional investors own 87.39% of the company’s stock.
Analysts Set New Price Targets
EVRG has been the subject of several recent analyst reports. Credit Suisse Group initiated coverage on Evergy in a research note on Monday, April 25th. They set an “outperform” rating and a $76.00 target price for the company. Wells Fargo & Company raised their target price on Evergy from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 19th. Finally, UBS Group downgraded Evergy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $78.00 to $70.00 in a research note on Thursday, June 30th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.33.
Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Kansas and Missouri, the United States. It generates electricity through coal, hydroelectric, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources.
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