Evergy Inc. (NASDAQ:EVRG) Receives $74.44 Consensus Price Target from Analysts

Key Points

• Evergy Inc. has received a consensus recommendation of "Buy" from nine brokerages, with eight rating it as a buy and one as a strong buy, for an average target price of $74.44.
• A number of institutional investors have increased their holdings in Evergy, with 87.24% of the stock now owned by these investors.
• Evergy announced a quarterly dividend of $0.6675 per share, yielding 3.7%, with payment set for September 19th.

Evergy Inc. (NASDAQ:EVRG - Get Free Report) has received an average recommendation of "Buy" from the nine research firms that are presently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $74.4375.

Several brokerages have weighed in on EVRG. Mizuho increased their target price on Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. LADENBURG THALM/SH SH raised Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Wall Street Zen lowered Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Barclays lowered their price target on Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Finally, Citigroup raised their price target on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a report on Friday, May 16th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Northern Trust Corp boosted its stake in Evergy by 16.7% during the first quarter. Northern Trust Corp now owns 2,737,480 shares of the company's stock valued at $188,749,000 after buying an additional 392,361 shares in the last quarter. Sowell Financial Services LLC bought a new position in Evergy during the first quarter valued at about $267,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Evergy during the fourth quarter valued at about $1,728,000. HighTower Advisors LLC boosted its stake in Evergy by 26.6% during the first quarter. HighTower Advisors LLC now owns 124,115 shares of the company's stock valued at $8,558,000 after buying an additional 26,086 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted 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 buying an additional 396 shares in the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Stock Up 0.2%

Shares of Evergy stock traded up $0.12 on Tuesday, hitting $71.39. 2,821,486 shares of the company's stock traded hands, compared to its average volume of 2,144,711. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24. The stock has a market cap of $16.43 billion, a P/E ratio of 19.61, a PEG ratio of 3.11 and a beta of 0.58. Evergy has a 52-week low of $59.00 and a 52-week high of $73.97. The firm's 50-day moving average is $70.60 and its 200 day moving average is $68.36.

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

Evergy Announces Dividend

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

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.