Evergy Inc. (NASDAQ:EVRG) Raises Dividend to $0.72 Per Share

Evergy Inc. (NASDAQ:EVRG) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Friday, November 20th will be given a dividend of $0.7225 per share on Friday, December 18th. This represents a $2.89 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 20th. This is a 4.0% increase from Evergy’s previous quarterly dividend of $0.6950.

Evergy has increased its dividend by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 20 years. Evergy has a dividend payout ratio of 65.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Evergy to earn $4.56 per share next year, which means the company should continue to be able to cover its $2.78 annual dividend with an expected future payout ratio of 61.0%.

Evergy Stock Up 1.4%

Evergy stock traded up $1.20 during midday trading on Thursday, reaching $87.41. The company’s stock had a trading volume of 6,527,577 shares, compared to its average volume of 2,119,905. Evergy has a 52-week low of $71.40 and a 52-week high of $89.66. The stock has a market capitalization of $20.15 billion, a P/E ratio of 22.19, a PEG ratio of 2.21 and a beta of 0.49. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.36 and a quick ratio of 0.21. The stock’s 50-day simple moving average is $81.57 and its 200-day simple moving average is $82.15.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings results on Thursday, November 5th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.25. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Evergy had a return on equity of 9.20% and a net margin of 15.19%. During the same quarter in the previous year, the firm posted $2.03 EPS. On average, sell-side analysts expect that Evergy will post 4.27 EPS for the current year.

Evergy Company Profile

Evergy, Inc is an investor-owned electric utility that generates, transmits, distributes and sells electricity to residential, commercial, industrial and municipal customers. The company operates regulated utilities in Kansas and Missouri, providing electric service through its Kansas Central, Kansas South, Missouri Metro and Missouri West operations.

Evergy’s generation portfolio includes wind, solar, coal, natural gas and nuclear power. The company also owns an interest in the Wolf Creek Generating Station, a nuclear power plant in Kansas, and continues to invest in renewable energy, grid modernization and other infrastructure intended to support reliable electricity service.

Evergy was formed in 2018 through the merger of Westar Energy and Great Plains Energy, the parent company of Kansas City Power & Light.