Evergy Inc. (NASDAQ:EVRG) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Evergy Inc. has received an average consensus rating of "Buy" from nine brokerages, with eight analysts rating it as a buy and one as a strong buy.
• The current 1-year price target for Evergy is approximately $78.07, as updated by brokerages over the past year.
• Evergy recently announced a quarterly dividend of $0.6675 per share, resulting in an annualized yield of 3.4% with a payout ratio of 73.35%.

Evergy Inc. (NASDAQ:EVRG - Get Free Report) has been assigned an average recommendation of "Buy" from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $78.0714.

A number of analysts have recently issued reports on the stock. Barclays reiterated an "outperform" rating on shares of Evergy in a report on Thursday, October 9th. Weiss Ratings reissued a "buy (b-)" rating on shares of Evergy in a research note on Wednesday, October 8th. Mizuho raised their target price on shares of Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Jefferies Financial Group lifted their price objective on shares of Evergy from $77.00 to $87.00 and gave the stock a "buy" rating in a research report on Thursday, October 9th.

Evergy Price Performance

NASDAQ EVRG opened at $78.12 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24. Evergy has a 12-month low of $59.23 and a 12-month high of $79.32. The company has a market capitalization of $17.98 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 3.64 and a beta of 0.57. The firm's 50 day moving average is $73.84 and its 200-day moving average is $70.06.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its quarterly earnings data 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. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the company earned $0.90 earnings per share. The firm's revenue was down .7% compared to the same quarter last year. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Equities research analysts anticipate that Evergy will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 22nd were given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Evergy's payout ratio is 73.35%.

Insider Buying and Selling

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy stock in a transaction on Monday, September 15th. The stock was sold at an average price of $72.33, for a total transaction of $578,640.00. Following the completion of the sale, the senior vice president owned 499 shares of the company's stock, valued at approximately $36,092.67. This trade represents a 94.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EVRG. Vanguard Group Inc. raised its stake in Evergy by 1.7% during the second quarter. Vanguard Group Inc. now owns 30,966,777 shares of the company's stock worth $2,134,540,000 after acquiring an additional 521,310 shares in the last quarter. Geode Capital Management LLC raised its stake in Evergy by 2.8% during the second quarter. Geode Capital Management LLC now owns 6,257,857 shares of the company's stock worth $429,677,000 after acquiring an additional 170,953 shares in the last quarter. Franklin Resources Inc. raised its stake in Evergy by 2.1% during the second quarter. Franklin Resources Inc. now owns 5,807,034 shares of the company's stock worth $400,279,000 after acquiring an additional 118,124 shares in the last quarter. Federated Hermes Inc. raised its stake in Evergy by 8.7% during the second quarter. Federated Hermes Inc. now owns 3,685,142 shares of the company's stock worth $254,017,000 after acquiring an additional 293,564 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Evergy during the first quarter worth about $212,132,000. Institutional investors and hedge funds own 87.24% 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.

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