Evergy Inc. (NASDAQ:EVRG - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $73.29 and last traded at $73.12, with a volume of 2824248 shares changing hands. The stock had previously closed at $71.55.
Wall Street Analysts Forecast Growth
EVRG has been the subject of several analyst reports. Citigroup boosted their target price on shares of Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Wall Street Zen downgraded Evergy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. UBS Group raised Evergy from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $68.00 to $78.00 in a research note on Monday, April 28th. Barclays dropped their price objective on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Finally, Jefferies Financial Group set a $78.00 price target on Evergy and gave the company a "buy" rating in a report on Tuesday, June 10th. One equities research 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.06.
Check Out Our Latest Analysis on Evergy
Evergy Price Performance
The company has a quick ratio of 0.29, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average of $68.69 and a 200-day moving average of $67.39. The stock has a market capitalization of $16.77 billion, a P/E ratio of 19.18, a PEG ratio of 3.20 and a beta of 0.48.
Evergy (NASDAQ:EVRG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. Evergy had a net margin of 14.87% and a return on equity of 8.84%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the firm posted $0.90 EPS. The company's revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts predict that Evergy Inc. will post 3.83 EPS for the current year.
Evergy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be issued a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 3.7%. Evergy's dividend payout ratio (DPR) is 70.26%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in EVRG. Nuveen LLC acquired a new stake in Evergy in the first quarter worth about $212,132,000. Northern Trust Corp boosted 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 valued at $188,749,000 after purchasing an additional 392,361 shares in the last quarter. Magellan Asset Management Ltd increased its position in shares of Evergy by 1,418.7% during the 2nd quarter. Magellan Asset Management Ltd now owns 2,364,493 shares of the company's stock valued at $162,985,000 after purchasing an additional 2,208,799 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Evergy by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,174,047 shares of the company's stock worth $149,901,000 after buying an additional 13,555 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Evergy by 11.2% in the first quarter. Jennison Associates LLC now owns 1,730,849 shares of the company's stock valued at $119,342,000 after buying an additional 174,269 shares during the period. 87.24% of the stock is currently owned by institutional investors.
About Evergy
(
Get Free Report)
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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