Evergy Inc. (NASDAQ:EVRG) Receives $89.60 Average Price Target from Analysts

Shares of Evergy Inc. (NASDAQ:EVRG) have received an average rating of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $90.10.

Several research analysts have recently commented on the company. Wells Fargo & Company set a $87.00 price target on Evergy in a research report on Tuesday, April 21st. Bank of America cut their price objective on Evergy from $89.00 to $88.00 and set a “buy” rating on the stock in a 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. BTIG Research began coverage on Evergy in a research report on Thursday, April 9th. They issued a “buy” rating and a $99.00 target price for the company. Finally, Barclays lifted their target price on Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday.

Insider Buying and Selling at Evergy

In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $83.46, for a total value of $900,283.02. Following the sale, the executive vice president owned 37,789 shares of the company’s stock, valued at $3,153,869.94. This trade represents a 22.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 dated 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 transaction, the director owned 1,680 shares of the company’s stock, valued at $139,960.80. The trade was a 31.18% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 12,748 shares of company stock valued at $1,061,870. Insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. lifted its position in Evergy by 476.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,207,882 shares of the company’s stock valued at $87,559,000 after acquiring an additional 998,400 shares during the last quarter. Freestone Grove Partners LP increased its holdings in shares of Evergy by 321.1% in the 4th quarter. Freestone Grove Partners LP now owns 854,739 shares of the company’s stock valued at $61,960,000 after acquiring an additional 651,738 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Evergy by 122.4% in the 4th quarter. Renaissance Technologies LLC now owns 811,202 shares of the company’s stock valued at $58,804,000 after acquiring an additional 446,400 shares during the period. BROOKFIELD Corp ON purchased a new stake in Evergy in the 2nd quarter valued at $29,644,000. Finally, Zimmer Partners LP raised its position in Evergy by 147.8% in the 4th quarter. Zimmer Partners LP now owns 137,500 shares of the company’s stock valued at $9,967,000 after purchasing an additional 425,000 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Price Performance

Shares of NASDAQ EVRG opened at $88.13 on Monday. The company has a market capitalization of $20.31 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.29 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. The company has a 50 day simple moving average of $83.27 and a 200-day simple moving average of $80.29. Evergy has a 1 year low of $67.30 and a 1 year high of $88.18.

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

Evergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, May 22nd were issued a $0.695 dividend. The ex-dividend date was Friday, May 22nd. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.2%. Evergy’s payout ratio is 73.74%.

Evergy Company Profile

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.