Evergy, Inc. (NASDAQ:EVRG) Given Average Rating of “Moderate Buy” by Analysts

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

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

Evergy Price Performance

Shares of NASDAQ:EVRG opened at $61.52 on Thursday. 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. The stock has a market cap of $14.15 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. The stock’s fifty day simple moving average is $62.34 and its two-hundred day simple moving average is $59.38.

Evergy (NASDAQ:EVRG) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.07. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.88 earnings per share. As a group, analysts forecast that Evergy will post 3.84 EPS for the current fiscal year.

Evergy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, November 21st were given a dividend of $0.6675 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.67 annualized dividend and a dividend yield of 4.34%. This is an increase from Evergy’s previous quarterly dividend of $0.64. Evergy’s dividend payout ratio is currently 72.16%.

Insider Activity

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the firm’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 in the company, valued at $62.93. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On Evergy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fairscale Capital LLC purchased a new position in Evergy during the second quarter valued at approximately $27,000. Truvestments Capital LLC bought a new position in Evergy in the 3rd quarter valued at $32,000. Hexagon Capital Partners LLC grew its position in shares of Evergy by 47.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after purchasing an additional 170 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Evergy in the second quarter worth $37,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Evergy in the second quarter worth $41,000. 87.24% of the stock is currently owned by institutional investors.

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.