Brokerages Set Evergy, Inc. (NYSE:EVRG) Target Price at $56.00

Evergy, Inc. (NYSE:EVRG) has earned an average rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $56.00.

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price objective on Evergy from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, March 1st. Guggenheim cut Evergy from a “buy” rating to a “neutral” rating and set a $52.00 target price for the company. in a research report on Monday, January 22nd. Citigroup began coverage on Evergy in a research report on Tuesday, March 26th. They issued a “buy” rating and a $64.00 target price for the company. Bank of America raised Evergy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $51.00 to $57.00 in a research report on Wednesday, March 13th. Finally, LADENBURG THALM/SH SH began coverage on Evergy in a research report on Thursday, April 4th. They issued a “neutral” rating and a $51.00 target price for the company.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EVRG. National Bank of Canada FI increased its stake in shares of Evergy by 74.8% in the third quarter. National Bank of Canada FI now owns 87,523 shares of the company’s stock valued at $4,227,000 after buying an additional 37,459 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in shares of Evergy by 19.4% in the third quarter. Dynamic Advisor Solutions LLC now owns 14,636 shares of the company’s stock valued at $742,000 after buying an additional 2,377 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in shares of Evergy in the third quarter valued at $922,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Evergy in the third quarter valued at $412,000. Finally, Moody National Bank Trust Division increased its stake in shares of Evergy by 22.5% in the third quarter. Moody National Bank Trust Division now owns 17,095 shares of the company’s stock valued at $867,000 after buying an additional 3,142 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Stock Down 1.4 %

EVRG opened at $51.69 on Friday. Evergy has a 1-year low of $46.92 and a 1-year high of $63.39. The company has a current ratio of 0.51, a quick ratio of 0.29 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 2.73 and a beta of 0.57. The business has a 50 day moving average of $51.36 and a 200-day moving average of $50.99.

Evergy (NYSE:EVRG) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). Evergy had a net margin of 13.28% and a return on equity of 8.47%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the company posted $0.30 earnings per share. As a group, sell-side analysts anticipate that Evergy will post 3.84 earnings per share for the current year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were paid a dividend of $0.6425 per share. The ex-dividend date was Friday, March 8th. This represents a $2.57 annualized dividend and a yield of 4.97%. Evergy’s dividend payout ratio is currently 80.82%.

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.