Evergy Inc. (NASDAQ:EVRG) Receives Consensus Rating of “Moderate Buy” from Analysts

by · The Markets Daily

Shares of Evergy Inc. (NASDAQ:EVRGGet Free Report) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $90.10.

Several research firms recently commented on EVRG. Bank of America cut their price objective on shares of Evergy from $89.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings raised Evergy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Wells Fargo & Company set a $87.00 price target on Evergy in a report on Tuesday, April 21st. BTIG Research began coverage on Evergy in a research report on Thursday, April 9th. They set a “buy” rating and a $99.00 price objective for the company. Finally, Barclays increased their price objective on Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th.

View Our Latest Stock Report on Evergy

Insider Activity at Evergy

In related news, Director Sandra Aj Lawrence sold 761 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $83.31, for a total transaction of $63,398.91. Following the completion of the transaction, the director owned 1,680 shares in the company, valued at approximately $139,960.80. This represents a 31.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles A. Caisley sold 10,787 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $83.46, for a total transaction of $900,283.02. Following the completion of the transaction, the executive vice president directly owned 37,789 shares of the company’s stock, valued at approximately $3,153,869.94. This trade represents a 22.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 12,748 shares of company stock valued at $1,061,870 over the last ninety days. Company insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Evergy

Large investors have recently modified their holdings of the business. Orion Porfolio Solutions LLC raised its stake in shares of Evergy by 32.5% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 83,233 shares of the company’s stock worth $6,327,000 after purchasing an additional 20,395 shares in the last quarter. Goelzer Investment Management Inc. bought a new position in shares of Evergy in the fourth quarter valued at $1,073,000. Cullen Frost Bankers Inc. increased its holdings in Evergy by 4.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 316,511 shares of the company’s stock worth $22,944,000 after buying an additional 14,907 shares during the last quarter. Vestcor Inc raised its position in Evergy by 49.6% during the fourth quarter. Vestcor Inc now owns 174,330 shares of the company’s stock worth $12,637,000 after acquiring an additional 57,795 shares in the last quarter. Finally, Qsemble Capital Management LP raised its position in Evergy by 295.4% during the fourth quarter. Qsemble Capital Management LP now owns 105,780 shares of the company’s stock worth $7,668,000 after acquiring an additional 79,029 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Price Performance

NASDAQ EVRG opened at $88.13 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.24 and a current ratio of 0.45. The stock has a market cap of $20.31 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 2.29 and a beta of 0.54. The business has a 50 day simple moving average of $83.27 and a 200 day simple moving average of $80.33. Evergy has a 52-week low of $67.30 and a 52-week high of $88.18.

Evergy (NASDAQ:EVRGGet Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.27 billion. Evergy had a net margin of 14.63% and a return on equity of 9.09%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Analysts anticipate that Evergy will post 4.25 earnings per share for the current fiscal year.

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, May 22nd. Evergy’s dividend payout ratio (DPR) is currently 73.74%.

About Evergy

(Get Free Report)

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.

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