Analysts Set Evergy, Inc. (NYSE:EVRG) PT at $57.00

Evergy, Inc. (NYSE:EVRG) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $57.00.

A number of research firms have recently commented on EVRG. Bank of America upgraded shares of Evergy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $51.00 to $57.00 in a research report on Wednesday, March 13th. Barclays raised their price objective on shares of Evergy from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Wells Fargo & Company cut their price objective on shares of Evergy from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, March 1st. Guggenheim lowered shares of Evergy from a “buy” rating to a “neutral” rating and set a $52.00 price objective for the company. in a research report on Monday, January 22nd. Finally, Citigroup assumed coverage on shares of Evergy in a research report on Tuesday. They set a “buy” rating and a $64.00 target price for the company.

Evergy Stock Performance

NYSE EVRG opened at $53.38 on Tuesday. Evergy has a 52-week low of $46.92 and a 52-week high of $63.93. The company has a 50-day simple moving average of $50.55 and a 200 day simple moving average of $50.98. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.29 and a current ratio of 0.51. The company has a market capitalization of $12.26 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.36 and a beta of 0.56.

Evergy (NYSE:EVRG) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). Evergy had a return on equity of 8.47% and a net margin of 13.28%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the business posted $0.30 EPS. On average, research analysts predict that Evergy will post 3.83 EPS for the current year.

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were given a dividend of $0.6425 per share. This represents a $2.57 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Friday, March 8th. Evergy’s payout ratio is currently 80.82%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC grew its position in shares of Evergy by 201,851.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 93,428,842 shares of the company’s stock worth $5,879,477,000 after buying an additional 93,382,579 shares during the period. Vanguard Group Inc. grew its position in shares of Evergy by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 30,757,415 shares of the company’s stock worth $1,605,537,000 after buying an additional 1,399,199 shares during the period. State Street Corp grew its position in shares of Evergy by 10.8% in the 1st quarter. State Street Corp now owns 13,874,020 shares of the company’s stock worth $948,151,000 after buying an additional 1,356,321 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Evergy by 3,322.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,433,440 shares of the company’s stock worth $637,693,000 after buying an additional 10,128,549 shares during the period. Finally, Invesco Ltd. grew its position in shares of Evergy by 5.1% in the 3rd quarter. Invesco Ltd. now owns 5,379,004 shares of the company’s stock worth $272,716,000 after buying an additional 261,664 shares during the period. 87.24% of the stock is owned by hedge funds and other institutional investors.

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.