Evergy Inc. (NASDAQ:EVRG) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Evergy Inc. (NASDAQ:EVRG) has received a consensus rating of "Buy" from nine brokerage firms, with an average price target of $74.44.
• The company recently declared a quarterly dividend of $0.6675, yielding approximately 3.6% annually, with a payout ratio of 73.35%.
• Evergy reported $0.82 EPS for the latest quarter, exceeding analyst expectations, despite a 0.7% decline in revenue year-over-year.

Shares of Evergy Inc. (NASDAQ:EVRG - Get Free Report) have earned a consensus recommendation of "Buy" from the nine ratings firms that are covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $74.4375.

A number of equities analysts have issued reports on EVRG shares. Barclays cut their target price on Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Jefferies Financial Group set a $78.00 target price on Evergy and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, Mizuho upped their target price on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research report on Friday, August 8th.

Insider Buying and Selling at Evergy

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

Institutional Investors Weigh In On Evergy

Institutional investors have recently made changes to their positions in the company. Amundi increased its holdings in shares of Evergy by 14.2% in the 1st quarter. Amundi now owns 140,301 shares of the company's stock valued at $9,710,000 after acquiring an additional 17,477 shares during the last quarter. Northern Trust Corp grew its stake in Evergy by 16.7% during the 1st quarter. Northern Trust Corp now owns 2,737,480 shares of the company's stock worth $188,749,000 after buying an additional 392,361 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in Evergy in the first quarter worth $267,000. Integrity Alliance LLC. acquired a new stake in Evergy in the first quarter worth $319,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Evergy in the fourth quarter worth $1,728,000. 87.24% of the stock is currently owned by institutional investors.

Evergy Stock Performance

Evergy stock opened at $74.07 on Friday. The stock's 50 day moving average price is $71.73 and its 200 day moving average price is $68.91. Evergy has a one year low of $59.00 and a one year high of $74.57. The firm has a market capitalization of $17.05 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 3.21 and a beta of 0.58. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50.

Evergy (NASDAQ:EVRG - Get Free Report) last announced 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. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The company 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. Evergy's quarterly revenue was down .7% on a year-over-year basis. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. As a group, sell-side analysts expect that Evergy will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 22nd were issued a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Friday, August 22nd. Evergy's payout ratio is 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.

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