Evergy Inc. (NASDAQ:EVRG) Receives $90.40 Average Price Target from Brokerages

Shares of Evergy Inc. (NASDAQ:EVRG) have earned a consensus rating of “Moderate Buy” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $90.60.

A number of research firms recently issued reports on EVRG. Wells Fargo & Company set a $87.00 price target on Evergy in a report on Tuesday, April 21st. UBS Group raised their price objective on shares of Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. BMO Capital Markets boosted their target price on shares of Evergy from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Bank of America reduced their target price 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. Finally, BTIG Research set a $97.00 price target on shares of Evergy in a research note on Thursday, July 23rd.

Insider Buying and Selling at Evergy

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

Hedge Funds Weigh In On Evergy

Several hedge funds have recently added to or reduced their stakes in EVRG. MidFirst Bank bought a new stake in Evergy during the 4th quarter worth about $25,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Evergy during the 4th quarter worth approximately $27,000. Prosperity Bancshares Inc acquired a new stake in shares of Evergy during the 4th quarter worth approximately $32,000. Triumph Capital Management raised its stake in shares of Evergy by 104.8% during the fourth quarter. Triumph Capital Management now owns 508 shares of the company’s stock worth $37,000 after buying an additional 260 shares during the last quarter. Finally, Transamerica Financial Advisors LLC lifted its holdings in Evergy by 163.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 529 shares of the company’s stock valued at $38,000 after buying an additional 328 shares during the period. Institutional investors own 87.24% of the company’s stock.

Evergy Trading Down 0.9%

EVRG stock opened at $83.25 on Friday. The business has a fifty day moving average price of $84.63 and a 200 day moving average price of $82.06. Evergy has a fifty-two week low of $69.54 and a fifty-two week high of $88.62. The stock has a market capitalization of $19.19 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 2.18 and a beta of 0.54. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.45 and a quick ratio of 0.24.

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

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.695 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.78 annualized dividend and a yield of 3.3%. Evergy’s dividend payout ratio is currently 73.74%.

About Evergy

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.