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

Evergy, Inc. (NASDAQ:EVRG) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat reports. Three 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 brokers that have issued ratings on the stock in the last year is $61.88.

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

Insider Buying and Selling at Evergy

In related news, EVP Kevin E. Bryant sold 48,141 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the transaction, the executive vice president now owns 1 shares in the company, valued at $62.93. The trade was a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Institutional Trading of Evergy

Several large investors have recently bought and sold shares of EVRG. Raymond James & Associates lifted its stake in shares of Evergy by 2.0% in the 2nd quarter. Raymond James & Associates now owns 52,348 shares of the company’s stock valued at $2,773,000 after purchasing an additional 1,037 shares during the period. HB Wealth Management LLC boosted its holdings in shares of Evergy by 21.9% during the 2nd quarter. HB Wealth Management LLC now owns 6,978 shares of the company’s stock valued at $370,000 after buying an additional 1,253 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Evergy by 74.9% during the 2nd quarter. UMB Bank n.a. now owns 51,912 shares of the company’s stock valued at $2,750,000 after buying an additional 22,230 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Evergy by 2.8% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,576 shares of the company’s stock worth $2,308,000 after buying an additional 1,201 shares during the period. Finally, Hantz Financial Services Inc. bought a new position in shares of Evergy in the 2nd quarter worth about $41,000. 87.24% of the stock is owned by institutional investors.

Evergy Trading Down 0.3 %

Shares of 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 market capitalization of $14.15 billion, a P/E ratio of 16.63, a P/E/G ratio of 2.75 and a beta of 0.64. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. The firm’s 50 day simple moving average is $62.34 and its 200 day simple moving average is $59.38.

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

Evergy Increases Dividend

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

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.