Evergy (NYSE:EVRG) Announces Earnings Results

Evergy (NYSE:EVRG) posted its earnings results on Thursday. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07, Briefing.com reports. Evergy had a net margin of 13.12% and a return on equity of 8.50%. The business 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 firm’s revenue for the quarter was up 8.5% on a year-over-year basis.

Evergy Stock Up 1.8 %

NYSE:EVRG traded up $1.10 during trading hours on Friday, reaching $62.51. 2,695,993 shares of the stock were exchanged, compared to its average volume of 2,065,826. The firm has a 50 day moving average of $60.71 and a 200 day moving average of $57.03. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.59 and a quick ratio of 0.35. The stock has a market cap of $14.37 billion, a PE ratio of 19.42, a PEG ratio of 2.66 and a beta of 0.62. Evergy has a twelve month low of $47.97 and a twelve month high of $62.58.

Evergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, November 21st will be paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.27%. The ex-dividend date is Thursday, November 21st. This is an increase from Evergy’s previous quarterly dividend of $0.64. Evergy’s dividend payout ratio (DPR) is presently 80.06%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EVRG. UBS Group upgraded Evergy to a “hold” rating in a research report on Wednesday, September 18th. Jefferies Financial Group initiated coverage on shares of Evergy in a research note on Thursday, September 19th. They set a “buy” rating and a $70.00 price objective on the stock. Barclays cut their target price on shares of Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Mizuho assumed coverage on Evergy in a research report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price target on the stock. Finally, Wells Fargo & Company raised their target price on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.88.

Insider Activity at Evergy

In related news, SVP Charles A. Caisley sold 9,236 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total transaction of $550,742.68. Following the sale, the senior vice president now owns 33,425 shares in the company, valued at approximately $1,993,132.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Charles A. Caisley sold 9,236 shares of Evergy stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total value of $550,742.68. Following the completion of the transaction, the senior vice president now owns 33,425 shares of the company’s stock, valued at $1,993,132.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Heather A. Humphrey sold 3,347 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $58.80, for a total transaction of $196,803.60. Following the completion of the sale, the senior vice president now directly owns 35,314 shares in the company, valued at approximately $2,076,463.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,884 shares of company stock valued at $941,810. Corporate insiders own 3.26% of the company’s stock.

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.