Evergy (NYSE:EVRG) Downgraded by Wolfe Research to Peer Perform

Wolfe Research downgraded shares of Evergy (NYSE:EVRG) from an outperform rating to a peer perform rating in a report issued on Monday morning, Marketbeat reports.

EVRG has been the topic of several other research reports. Barclays initiated coverage on Evergy in a research report on Wednesday, August 23rd. They issued an equal weight rating and a $56.00 price objective on the stock. Guggenheim reduced their target price on Evergy from $72.00 to $68.00 in a research note on Friday, July 7th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $61.83.

Evergy Price Performance

Shares of EVRG stock opened at $52.71 on Monday. Evergy has a fifty-two week low of $52.28 and a fifty-two week high of $71.13. The firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 2.88 and a beta of 0.51. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.28 and a current ratio of 0.46. The stock’s 50-day simple moving average is $57.76 and its 200-day simple moving average is $59.24.

Evergy (NYSE:EVRG) last issued its quarterly earnings results on Friday, August 4th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.45 billion. Evergy had a return on equity of 8.94% and a net margin of 12.97%. The company’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 earnings per share. As a group, equities analysts forecast that Evergy will post 3.58 earnings per share for the current fiscal year.

Evergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Monday, August 21st will be paid a $0.6125 dividend. This represents a $2.45 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend is Friday, August 18th. Evergy’s dividend payout ratio is currently 74.47%.

Insider Buying and Selling at Evergy

In other Evergy news, Director Mary L. Landrieu sold 1,170 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $59.62, for a total value of $69,755.40. Following the completion of the sale, the director now directly owns 4,210 shares in the company, valued at approximately $251,000.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.47% of the stock is owned by company insiders.

Institutional Trading of Evergy

Large investors have recently added to or reduced their stakes in the stock. Red Tortoise LLC grew its holdings in Evergy by 793.5% in the 1st quarter. Red Tortoise LLC now owns 411 shares of the company’s stock valued at $25,000 after buying an additional 365 shares in the last quarter. Bank of New Hampshire purchased a new position in shares of Evergy during the 2nd quarter worth $28,000. Clear Street Markets LLC grew its holdings in shares of Evergy by 92.7% during the 1st quarter. Clear Street Markets LLC now owns 451 shares of the company’s stock worth $28,000 after purchasing an additional 217 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Evergy during the 2nd quarter worth $30,000. Finally, Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Evergy during the 2nd quarter worth $31,000. 82.82% of the stock is currently 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 Kansas and Missouri, the United States. The company generates electricity through coal, hydroelectric, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources.