Evergy, Inc. (NYSE:EVRG) Declares Quarterly Dividend of $0.64

Evergy, Inc. (NYSE:EVRG - Get Free Report) declared a quarterly dividend on Thursday, May 9th, RTT News reports. Shareholders of record on Monday, May 20th will be paid a dividend of 0.6425 per share on Thursday, June 20th. This represents a $2.57 annualized dividend and a yield of 4.61%.

Evergy has raised its dividend by an average of 6.6% per year over the last three years and has increased its dividend annually for the last 19 consecutive years. Evergy has a dividend payout ratio of 63.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Evergy to earn $4.03 per share next year, which means the company should continue to be able to cover its $2.57 annual dividend with an expected future payout ratio of 63.8%.

Evergy Stock Up 2.1 %

Shares of EVRG stock traded up $1.15 during trading hours on Thursday, reaching $55.72. 4,723,723 shares of the company's stock were exchanged, compared to its average volume of 2,521,101. The stock has a market cap of $12.80 billion, a PE ratio of 17.52, a PEG ratio of 2.82 and a beta of 0.57. The stock's fifty day moving average price is $51.95 and its two-hundred day moving average price is $51.24. Evergy has a 1 year low of $46.92 and a 1 year high of $63.39. The company has a current ratio of 0.51, a quick ratio of 0.29 and a debt-to-equity ratio of 1.14.

Evergy (NYSE:EVRG - Get Free Report) last released its earnings results on Thursday, May 9th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.37). Evergy had a return on equity of 8.47% and a net margin of 13.28%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the firm earned $0.59 earnings per share. The company's revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts predict that Evergy will post 3.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EVRG shares. Citigroup started coverage on shares of Evergy in a research report on Tuesday, March 26th. They issued a "buy" rating and a $64.00 price objective for the company. Bank of America raised shares of Evergy from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $51.00 to $57.00 in a research report on Wednesday, March 13th. Barclays lifted their target price on Evergy from $54.00 to $55.00 and gave the stock an "overweight" rating in a research note on Thursday, March 14th. Guggenheim cut Evergy from a "buy" rating to a "neutral" rating and set a $52.00 price target for the company. in a report on Monday, January 22nd. Finally, Wells Fargo & Company lowered their price target on shares of Evergy from $60.00 to $57.00 and set an "overweight" rating on the stock in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Evergy Company Profile

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.