Evergy (NASDAQ:EVRG) Reaches New 12-Month High - Time to Buy?

Key Points

• Evergy Inc. recently reached a new 52-week high with its share price climbing to $77.71, indicating strong investor interest and market performance.
• Wall Street analysts maintain a consensus "Buy" rating for Evergy, with target prices ranging from $74.00 to $78.00, suggesting confidence in the company's growth prospects.
• The company reported a quarterly EPS of $0.82, exceeding expectations, although its revenue showed a slight decline year-over-year, highlighting mixed performance results.

Evergy Inc. (NASDAQ:EVRG - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $77.71 and last traded at $77.48, with a volume of 2480765 shares traded. The stock had previously closed at $76.62.

Wall Street Analysts Forecast Growth

EVRG has been the topic of several research analyst reports. Mizuho upped their target price on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Jefferies Financial Group set a $78.00 price target on Evergy and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Evergy in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company's stock. Based on data from MarketBeat.com, Evergy presently has a consensus rating of "Buy" and an average price target of $74.44.

Evergy Trading Up 1.1%

The business has a 50 day moving average of $72.56 and a two-hundred day moving average of $69.31. The firm has a market capitalization of $17.83 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 3.35 and a beta of 0.57. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company's quarterly revenue was down .7% on a year-over-year basis. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Equities analysts predict that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.6675 per share. The ex-dividend date was Friday, August 22nd. This represents a $2.67 annualized dividend and a yield of 3.4%. Evergy's dividend payout ratio is presently 73.35%.

Insider Buying and Selling at Evergy

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $72.33, for a total transaction of $578,640.00. Following the completion of the transaction, the senior vice president directly owned 499 shares in the company, valued at $36,092.67. This trade represents a 94.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.42% of the company's stock.

Hedge Funds Weigh In On Evergy

Hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC purchased a new stake in shares of Evergy in the fourth quarter worth approximately $257,000. Merit Financial Group LLC raised its position in Evergy by 6.6% in the 1st quarter. Merit Financial Group LLC now owns 4,663 shares of the company's stock valued at $322,000 after buying an additional 288 shares during the last quarter. LexAurum Advisors LLC purchased a new stake in Evergy in the 1st quarter valued at $242,000. Park Avenue Securities LLC lifted its stake in Evergy by 14.8% during the 1st quarter. Park Avenue Securities LLC now owns 8,966 shares of the company's stock valued at $618,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Evergy by 124.3% during the 1st quarter. Farther Finance Advisors LLC now owns 6,068 shares of the company's stock worth $419,000 after acquiring an additional 3,363 shares during the last quarter. Institutional investors and hedge funds 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.

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