Evergy Inc. (NASDAQ:EVRG) Given Consensus Recommendation of “Buy” by Analysts

Evergy Inc. (NASDAQ:EVRG) has received an average rating of “Buy” from the nine brokerages that are covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $74.4375.

A number of analysts have issued reports on EVRG shares. Mizuho raised their price target on Evergy from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Barclays decreased their price target on Evergy from $73.00 to $71.00 and set an “overweight” rating on the stock in a research note on Friday, May 30th. Jefferies Financial Group set a $78.00 price target on Evergy and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Wall Street Zen lowered Evergy from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Finally, Citigroup lifted their price objective on Evergy from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, May 16th.

Hedge Funds Weigh In On Evergy

Hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in shares of Evergy during the 4th quarter valued at about $257,000. AXA S.A. increased its holdings in Evergy by 166.6% during the 4th quarter. AXA S.A. now owns 96,443 shares of the company’s stock worth $5,936,000 after purchasing an additional 60,272 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Evergy by 5.1% during the 4th quarter. Ameriprise Financial Inc. now owns 295,489 shares of the company’s stock worth $18,166,000 after purchasing an additional 14,273 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Evergy by 12.3% in the 4th quarter. Benjamin Edwards Inc. now owns 91,573 shares of the company’s stock valued at $5,636,000 after acquiring an additional 10,014 shares during the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Evergy by 19.1% in the 4th quarter. Baird Financial Group Inc. now owns 42,157 shares of the company’s stock valued at $2,595,000 after acquiring an additional 6,768 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Trading Up 0.1%

Shares of EVRG stock opened at $71.26 on Tuesday. Evergy has a fifty-two week low of $58.25 and a fifty-two week high of $73.97. The stock has a market cap of $16.40 billion, a P/E ratio of 19.58, a P/E/G ratio of 3.11 and a beta of 0.58. The business has a fifty day simple moving average of $70.49 and a 200-day simple moving average of $68.32. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company earned $0.90 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. On average, analysts forecast that Evergy will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, August 22nd. Evergy’s payout ratio is currently 73.35%.

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.