Evergy Inc. (NASDAQ:EVRG) Receives $73.19 Average Target Price from Brokerages

Shares of Evergy Inc. (NASDAQ:EVRG) have received a consensus rating of “Buy” from the nine research firms that are covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $73.19.

A number of research analysts recently commented on EVRG shares. LADENBURG THALM/SH SH upgraded Evergy to a “strong-buy” rating in a research note on Thursday, May 8th. UBS Group raised shares of Evergy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $68.00 to $78.00 in a report on Monday, April 28th. Barclays dropped their price objective on shares of Evergy from $73.00 to $71.00 and set an “overweight” rating on the stock in a report on Friday, May 30th. Wall Street Zen downgraded shares of Evergy from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Finally, Citigroup upped their target price on shares of Evergy from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Friday, May 16th.

Evergy Price Performance

EVRG opened at $67.19 on Thursday. The firm has a market cap of $15.46 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 2.92 and a beta of 0.49. Evergy has a fifty-two week low of $52.10 and a fifty-two week high of $70.36. The company’s 50-day moving average price is $67.13 and its 200 day moving average price is $65.55. The company has a quick ratio of 0.29, a current ratio of 0.55 and a debt-to-equity ratio of 1.24.

Evergy (NASDAQ:EVRG) last posted its earnings results on Thursday, May 8th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.12). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.21 billion. Evergy had a net margin of 14.87% and a return on equity of 8.84%. During the same period last year, the company posted $0.54 earnings per share. As a group, sell-side analysts expect that Evergy will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.67 annualized dividend and a yield of 3.97%. Evergy’s payout ratio is 70.26%.

Institutional Trading of Evergy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP lifted its stake in Evergy by 84.6% during the fourth quarter. Allworth Financial LP now owns 7,975 shares of the company’s stock valued at $501,000 after purchasing an additional 3,654 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Evergy during the fourth quarter valued at $49,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Evergy in the 4th quarter valued at $1,728,000. Sanctuary Advisors LLC increased its stake in Evergy by 5.5% in the 4th quarter. Sanctuary Advisors LLC now owns 25,266 shares of the company’s stock worth $1,623,000 after purchasing an additional 1,324 shares in the last quarter. Finally, Truist Financial Corp increased its stake in Evergy by 3.3% in the 4th quarter. Truist Financial Corp now owns 19,740 shares of the company’s stock worth $1,215,000 after purchasing an additional 634 shares in the last quarter. 87.24% of the stock is currently owned by 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.