Evergy (NYSE:EVRG) Releases FY 2022 Earnings Guidance

Evergy (NYSE:EVRGGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.43-$3.63 for the period, compared to the consensus estimate of $3.55. The company issued revenue guidance of -. Evergy also updated its FY 2022 guidance to $3.43-$3.63 EPS.

Wall Street Analyst Weigh In

A number of brokerages have commented on EVRG. Credit Suisse Group started coverage on Evergy in a research report on Monday, April 25th. They issued an outperform rating and a $76.00 price objective for the company. UBS Group cut Evergy from a buy rating to a neutral rating and dropped their price target for the company from $78.00 to $70.00 in a report on Thursday, June 30th. Finally, Wells Fargo & Company increased their price objective on Evergy from $67.00 to $75.00 and gave the company an equal weight rating in a research report on Tuesday, April 19th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $71.33.

Evergy Stock Performance

Shares of NYSE:EVRG traded down $0.13 during trading on Thursday, reaching $68.24. 1,130,265 shares of the stock were exchanged, compared to its average volume of 1,356,069. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 1.00. The firm has a market cap of $15.66 billion, a PE ratio of 19.39, a PEG ratio of 3.77 and a beta of 0.49. The stock has a 50-day moving average price of $65.65 and a 200-day moving average price of $65.99. Evergy has a 12 month low of $59.34 and a 12 month high of $73.13.

Evergy (NYSE:EVRGGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.55 by $0.03. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.43 billion. Evergy had a net margin of 15.59% and a return on equity of 8.93%. During the same period in the previous year, the business earned $0.55 earnings per share. Research analysts expect that Evergy will post 3.53 EPS for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Friday, August 19th will be issued a $0.5725 dividend. This represents a $2.29 dividend on an annualized basis and a yield of 3.36%. Evergy’s payout ratio is 65.06%.

Insider Buying and Selling at Evergy

In other news, Director Sandra Aj Lawrence sold 500 shares of the stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $68.22, for a total transaction of $34,110.00. Following the transaction, the director now owns 2,180 shares of the company’s stock, valued at approximately $148,719.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 1,657 shares of company stock valued at $112,987. 0.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Evergy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cowa LLC purchased a new position in Evergy in the 1st quarter valued at approximately $81,000. Covestor Ltd lifted its holdings in shares of Evergy by 140.8% during the 1st quarter. Covestor Ltd now owns 2,379 shares of the company’s stock worth $163,000 after acquiring an additional 1,391 shares during the last quarter. Toroso Investments LLC purchased a new position in Evergy in the 1st quarter worth $205,000. Beacon Pointe Advisors LLC purchased a new position in Evergy in the 1st quarter worth $222,000. Finally, Mather Group LLC. purchased a new position in shares of Evergy in the first quarter valued at about $244,000. Hedge funds and other institutional investors own 87.39% of the company’s stock.

About Evergy

(Get Rating)

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Kansas and Missouri, the United States. It generates electricity through coal, hydroelectric, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources.

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