Brokerages Set Evergy Inc. (NASDAQ:EVRG) Target Price at $74.44

Shares of Evergy Inc. (NASDAQ:EVRG) have earned an average rating of “Buy” from the nine analysts that are covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $74.4375.

Several equities research analysts have recently issued reports on the stock. Mizuho raised their target price on shares of Evergy from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Jefferies Financial Group set a $78.00 price objective on shares of Evergy and gave the stock a “buy” rating in a research report on Tuesday, June 10th.

Insider Activity

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $72.33, for a total transaction of $578,640.00. Following the completion of the sale, the senior vice president directly owned 499 shares of the company’s stock, valued at approximately $36,092.67. The trade was a 94.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.42% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EVRG. Vanguard Group Inc. grew its holdings in Evergy by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 30,966,777 shares of the company’s stock worth $2,134,540,000 after acquiring an additional 521,310 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Evergy by 2.8% during the second quarter. Geode Capital Management LLC now owns 6,257,857 shares of the company’s stock valued at $429,677,000 after acquiring an additional 170,953 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Evergy by 2.1% in the second quarter. Franklin Resources Inc. now owns 5,807,034 shares of the company’s stock worth $400,279,000 after buying an additional 118,124 shares during the last quarter. Federated Hermes Inc. raised its stake in Evergy by 8.7% in the 2nd quarter. Federated Hermes Inc. now owns 3,685,142 shares of the company’s stock worth $254,017,000 after acquiring an additional 293,564 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Evergy in the 1st quarter worth $212,132,000. Institutional investors own 87.24% of the company’s stock.

Evergy Stock Performance

NASDAQ EVRG opened at $75.06 on Friday. The company has a market cap of $17.28 billion, a P/E ratio of 20.62, a P/E/G ratio of 3.24 and a beta of 0.58. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50. The business’s 50 day moving average price is $71.85 and its 200-day moving average price is $69.00. Evergy has a fifty-two week low of $59.00 and a fifty-two week high of $75.08.

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. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.Evergy’s revenue was down .7% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Sell-side analysts predict that Evergy will post 3.83 earnings per share for the current year.

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, August 22nd. Evergy’s dividend payout ratio (DPR) 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.