Brokerages Set Evergy Inc. (NASDAQ:EVRG) Target Price at $73.19

Shares of Evergy Inc. (NASDAQ:EVRG - Get Free Report) have been assigned an average recommendation of "Buy" from the nine analysts that are currently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $73.19.

EVRG has been the topic of several research reports. LADENBURG THALM/SH SH upgraded shares of Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Jefferies Financial Group set a $78.00 price target on Evergy and gave the stock a "buy" rating in a research note on Tuesday, June 10th. UBS Group upgraded shares of Evergy from a "neutral" rating to a "buy" rating and raised their target price for the stock from $68.00 to $78.00 in a report on Monday, April 28th. Barclays lowered their price target on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Finally, Wall Street Zen lowered shares of Evergy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Institutional Trading of Evergy

Several institutional investors have recently added to or reduced their stakes in the company. Bfsg LLC acquired a new position in Evergy during the 1st quarter valued at approximately $25,000. Lee Danner & Bass Inc. purchased a new stake in shares of Evergy in the fourth quarter valued at approximately $26,000. Alpine Bank Wealth Management acquired a new position in shares of Evergy during the 1st quarter valued at about $32,000. LRI Investments LLC purchased a new stake in shares of Evergy during the 1st quarter valued at approximately $32,000. Finally, Clearstead Trust LLC purchased a new position in shares of Evergy during the 1st quarter worth approximately $32,000. Institutional investors own 87.24% of the company's stock.

Evergy Stock Performance

Shares of NASDAQ:EVRG traded down $0.46 during midday trading on Monday, reaching $68.50. 2,623,113 shares of the company traded hands, compared to its average volume of 2,344,139. The firm's fifty day moving average price is $67.36 and its two-hundred day moving average price is $66.33. The firm has a market capitalization of $15.76 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 3.00 and a beta of 0.50. The company has a quick ratio of 0.29, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. Evergy has a 12 month low of $54.09 and a 12 month high of $70.36.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.12). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.21 billion. Evergy had a net margin of 14.87% and a return on equity of 8.84%. During the same quarter in the prior year, the company earned $0.54 earnings per share. On average, equities analysts expect that Evergy will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 23rd were given a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.90%. Evergy's dividend payout ratio is currently 70.26%.

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.