Evergy Inc. (NASDAQ:EVRG) Receives $74.06 Average Target Price from Analysts

Key Points

• Evergy Inc. has received an average rating of "Buy" from nine brokerage firms, with eight analysts recommending the stock while one has issued a strong buy.
• The company reported a quarterly earnings per share (EPS) of $0.82, exceeding estimates of $0.78, with a revenue of $1.43 billion.
• Evergy announced a quarterly dividend of $0.6675 per share, representing an annualized dividend of $2.67 and a yield of 3.7%.

Evergy Inc. (NASDAQ:EVRG - Get Free Report) has been given a consensus rating of "Buy" by the nine analysts that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $74.4375.

EVRG has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH raised shares of Evergy to a "strong-buy" rating in a research note on Thursday, May 8th. Wall Street Zen lowered shares of Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Barclays reduced their price target on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Jefferies Financial Group set a $78.00 price target on shares of Evergy and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Mizuho upped their price target on shares of Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research note on Friday.

Institutional Trading of Evergy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sowell Financial Services LLC acquired a new stake in Evergy during the first quarter valued at approximately $267,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Evergy during the fourth quarter valued at approximately $1,728,000. Kestra Private Wealth Services LLC lifted its stake in Evergy by 9.5% during the first quarter. Kestra Private Wealth Services LLC now owns 4,562 shares of the company's stock valued at $315,000 after purchasing an additional 396 shares during the last quarter. Brighton Jones LLC acquired a new stake in Evergy during the fourth quarter valued at approximately $257,000. Finally, Farther Finance Advisors LLC lifted its stake in Evergy by 124.3% during the first quarter. Farther Finance Advisors LLC now owns 6,068 shares of the company's stock valued at $419,000 after purchasing an additional 3,363 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Stock Performance

Evergy stock traded down $0.51 during midday trading on Friday, reaching $71.91. 261,070 shares of the stock traded hands, compared to its average volume of 2,355,988. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The firm has a fifty day moving average price of $68.93 and a two-hundred day moving average price of $67.58. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 3.17 and a beta of 0.48. Evergy has a fifty-two week low of $57.82 and a fifty-two week high of $73.97.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.04. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. Evergy's revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 EPS. On average, equities research analysts forecast that Evergy will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be paid a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.67 annualized dividend and a yield of 3.7%. Evergy's dividend payout ratio is currently 73.35%.

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.