Evergy (NASDAQ:EVRG) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• Evergy reported earnings of $0.82 per share, beating analysts' expectations of $0.78 by $0.04, although revenue of $1.43 billion fell short of the expected $1.45 billion.
• The company has declared a quarterly dividend of $0.6675 per share, representing a 3.7% yield with a payout ratio of 70.26%.
• Evergy has received positive upgrades from several analysts, with an average rating of "Moderate Buy" and a target price of $74.06.

Evergy (NASDAQ:EVRG - Get Free Report) issued its earnings results on Thursday. The company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.04, Zacks reports. The firm had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.45 billion. Evergy had a net margin of 14.87% and a return on equity of 8.84%. The firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. Evergy updated its FY 2025 guidance to 3.920-4.120 EPS.

Evergy Stock Down 0.5%

Shares of Evergy stock opened at $72.87 on Friday. Evergy has a 1 year low of $57.28 and a 1 year high of $73.97. The company has a market cap of $16.77 billion, a P/E ratio of 19.18, a P/E/G ratio of 3.20 and a beta of 0.48. The company has a current ratio of 0.55, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average price of $68.69 and a 200 day moving average price of $67.39.

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 3.7%. Evergy's payout ratio is 70.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. LADENBURG THALM/SH SH upgraded Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Jefferies Financial Group set a $78.00 target price on Evergy and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Citigroup increased their price target on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a research report on Friday, May 16th. BMO Capital Markets assumed coverage on Evergy in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 price target on the stock. Finally, Barclays cut their price objective on Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $74.06.

Hedge Funds Weigh In On Evergy

Institutional investors and hedge funds have recently bought and sold shares of the business. Focus Partners Wealth lifted its position in shares of Evergy by 7.3% in the first quarter. Focus Partners Wealth now owns 13,791 shares of the company's stock worth $951,000 after purchasing an additional 939 shares in the last quarter. Woodline Partners LP grew its position in Evergy by 40.7% during the first quarter. Woodline Partners LP now owns 19,429 shares of the company's stock valued at $1,340,000 after purchasing an additional 5,618 shares in the last quarter. Empowered Funds LLC increased its stake in Evergy by 19.5% in the 1st quarter. Empowered Funds LLC now owns 4,648 shares of the company's stock valued at $320,000 after buying an additional 758 shares during the period. United Services Automobile Association purchased a new stake in Evergy in the 1st quarter worth approximately $223,000. Finally, Brighton Jones LLC acquired a new stake in shares of Evergy during the 4th quarter valued at $257,000. Hedge funds and other institutional investors own 87.24% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.