Evergy Inc. Plans Quarterly Dividend of $0.69 (NASDAQ:EVRG)

Key Points

• Evergy declared a quarterly dividend of $0.695 per share, payable September 18 to shareholders of record on August 18. The dividend implies a 3.3% yield, and the company has raised its payout for 20 consecutive years.
• The dividend appears well covered, with a 65.1% payout ratio and an expected future payout ratio of 61.1% based on projected earnings.
• Evergy reported quarterly EPS of $0.88, exceeding analysts’ $0.81 consensus, while revenue of $1.50 billion also topped expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $90.60.

Evergy Inc. (NASDAQ:EVRG - Get Free Report) announced a quarterly dividend on Thursday, August 6th. Stockholders of record on Tuesday, August 18th will be paid a dividend of 0.695 per share on Friday, September 18th. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, August 18th.

Evergy has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 20 years. Evergy has a payout ratio of 65.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Evergy to earn $4.55 per share next year, which means the company should continue to be able to cover its $2.78 annual dividend with an expected future payout ratio of 61.1%.

Evergy Stock Down 0.0%

Shares of NASDAQ:EVRG traded down $0.02 during mid-day trading on Thursday, hitting $83.04. 2,089,756 shares of the company traded hands, compared to its average volume of 2,068,056. The firm's 50 day simple moving average is $84.57 and its 200 day simple moving average is $82.31. The firm has a market cap of $19.14 billion, a P/E ratio of 22.03, a PEG ratio of 2.17 and a beta of 0.54. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.24 and a current ratio of 0.45. Evergy has a 52-week low of $70.42 and a 52-week high of $88.62.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.07. Evergy had a return on equity of 9.09% and a net margin of 14.63%.The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the prior year, the business earned $0.82 EPS. On average, equities analysts anticipate that Evergy will post 4.25 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on EVRG shares. BTIG Research set a $97.00 price target on Evergy in a report on Thursday, July 23rd. Citigroup upped their target price on Evergy from $95.00 to $97.00 and gave the company a "buy" rating in a research report on Friday, July 24th. UBS Group increased their target price on Evergy from $88.00 to $91.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Wells Fargo & Company set a $87.00 price target on shares of Evergy in a research report on Tuesday, April 21st. Finally, Barclays lifted their price target on shares of Evergy from $89.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 30th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $90.60.

About Evergy

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company's business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.

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