Evergy Inc. Plans Quarterly Dividend of $0.67 (NASDAQ:EVRG)

Key Points

• Evergy Inc. announced a quarterly dividend of $0.67 per share, payable on September 19th, with a dividend yield of 3.7%.
• The company has a payout ratio of 62.5%, indicating that the dividend is well-supported by earnings.
• Despite recent earnings exceeding analyst expectations, Evergy's stock price decreased by 0.6% to $72.83, reflecting ongoing market adjustments.

Evergy Inc. (NASDAQ:EVRG - Get Free Report) announced a quarterly dividend on Thursday, August 7th, RTT News reports. Investors of record on Friday, August 22nd will be given a dividend of 0.6675 per share on Friday, September 19th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%.

Evergy has a payout ratio of 62.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Evergy to earn $4.03 per share next year, which means the company should continue to be able to cover its $2.67 annual dividend with an expected future payout ratio of 66.3%.

Evergy Trading Down 0.6%

Shares of Evergy stock traded down $0.42 on Thursday, hitting $72.83. 97,210 shares of the company's stock traded hands, compared to its average volume of 2,346,894. The firm's 50-day moving average price is $68.56 and its two-hundred day moving average price is $67.33. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.29. The stock has a market capitalization of $16.76 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 3.19 and a beta of 0.48. Evergy has a one year low of $57.28 and a one year high of $73.97.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. Evergy had a return on equity of 8.84% and a net margin of 14.87%. The business's revenue was down .7% on a year-over-year basis. During the same quarter last year, the company earned $0.90 EPS. On average, research analysts expect that Evergy will post 3.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen cut Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Barclays reduced their price objective on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. LADENBURG THALM/SH SH raised Evergy to a "strong-buy" rating in a research note on Thursday, May 8th. UBS Group raised shares of Evergy from a "neutral" rating to a "buy" rating and lifted their price target for the company from $68.00 to $78.00 in a research note on Monday, April 28th. Finally, Jefferies Financial Group set a $78.00 target price on shares of Evergy and gave the stock a "buy" rating in a research report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $74.06.

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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