Evergy (NASDAQ:EVRG) Reaches New 12-Month High - Here's Why

Key Points

• Evergy's stock price reached a new 52-week high of $70.37, closing at $70.18 with a trading volume of 368,859 shares.
• A range of analysts have set new price targets for Evergy, with the average target price at $74.06, indicating a consensus of a "Moderate Buy."
• The company recently announced a quarterly dividend of $0.6675, reflecting an annualized yield of 3.78% and a payout ratio of 70.26%.

Evergy Inc. (NASDAQ:EVRG - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $70.37 and last traded at $70.18, with a volume of 368859 shares traded. The stock had previously closed at $69.71.

Wall Street Analysts Forecast Growth

EVRG has been the subject of several recent research reports. Mizuho upped their price target on shares of Evergy from $70.00 to $74.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Wall Street Zen lowered Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Citigroup increased their target price on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a report on Friday, May 16th. LADENBURG THALM/SH SH raised Evergy to a "strong-buy" rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets assumed coverage on Evergy in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $74.06.

Evergy Trading Up 0.6%

The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.29 and a current ratio of 0.55. The stock has a market capitalization of $16.38 billion, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 3.07 and a beta of 0.50. The stock has a 50-day moving average price of $68.01 and a two-hundred day moving average price of $67.04.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.12). The business 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 EPS. On average, research analysts forecast that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, May 23rd were given a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, May 23rd. Evergy's dividend payout ratio (DPR) is currently 70.26%.

Institutional Investors Weigh In On Evergy

Several institutional investors and hedge funds have recently modified their holdings of EVRG. Bfsg LLC purchased a new stake in shares of Evergy in the 1st quarter worth about $25,000. Colonial Trust Co SC bought a new stake in shares of Evergy in the fourth quarter worth approximately $32,000. Alpine Bank Wealth Management bought a new stake in shares of Evergy in the first quarter worth approximately $32,000. Olde Wealth Management LLC bought a new stake in shares of Evergy in the first quarter worth approximately $32,000. Finally, LRI Investments LLC bought a new stake in shares of Evergy in the first quarter worth approximately $32,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

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.