Evergy (NASDAQ:EVRG) Price Target Raised to $82.00 at BMO Capital Markets

Evergy (NASDAQ:EVRG) had its target price hoisted by BMO Capital Markets from $79.00 to $82.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on EVRG. Barclays boosted their price target on shares of Evergy from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, January 22nd. UBS Group upped their target price on shares of Evergy from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Evergy in a research report on Monday, December 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $91.00 price objective on shares of Evergy in a research note on Friday. Finally, Mizuho reissued a “neutral” rating and issued a $76.00 target price (down previously from $86.00) on shares of Evergy in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.63.

Evergy Trading Up 0.7%

EVRG stock opened at $77.09 on Tuesday. The company has a market cap of $17.75 billion, a P/E ratio of 21.12, a PEG ratio of 3.09 and a beta of 0.67. Evergy has a twelve month low of $61.94 and a twelve month high of $79.32. The company has a quick ratio of 0.30, a current ratio of 0.52 and a debt-to-equity ratio of 1.20. The business has a fifty day moving average of $74.40 and a 200-day moving average of $73.97.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.11). The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $2.24 billion. Evergy had a net margin of 14.45% and a return on equity of 8.66%. Evergy’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.02 EPS. As a group, equities research analysts expect that Evergy will post 3.83 EPS for the current year.

Evergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, November 21st were paid a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Friday, November 21st. This is a boost from Evergy’s previous quarterly dividend of $0.67. Evergy’s dividend payout ratio (DPR) is 76.16%.

Institutional Investors Weigh In On Evergy

Several large investors have recently modified their holdings of EVRG. Harbor Capital Advisors Inc. bought a new position in shares of Evergy during the 4th quarter valued at about $27,000. Accredited Wealth Management LLC raised its holdings in Evergy by 1,310.3% during the 3rd quarter. Accredited Wealth Management LLC now owns 409 shares of the company’s stock worth $31,000 after buying an additional 380 shares during the period. AlphaCore Capital LLC bought a new position in Evergy in the second quarter valued at approximately $33,000. Sentry Investment Management LLC acquired a new position in shares of Evergy in the third quarter valued at approximately $41,000. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Evergy in the second quarter valued at approximately $42,000. 87.24% of the stock is currently owned by institutional investors.

About Evergy

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.