Evergy Inc. (NASDAQ:EVRG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Evergy Inc. (NASDAQ:EVRG) have been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $86.8750.

A number of research analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Evergy in a research note on Monday, December 29th. UBS Group downgraded Evergy from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $86.00 to $88.00 in a report on Friday, February 13th. Citigroup boosted their price target on Evergy from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company raised their price objective on shares of Evergy from $79.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Barclays boosted their target price on shares of Evergy from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd.

Evergy Trading Up 2.3%

NASDAQ:EVRG opened at $82.11 on Tuesday. Evergy has a 52 week low of $61.94 and a 52 week high of $83.19. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.27 and a current ratio of 0.49. The firm’s fifty day moving average is $75.89 and its 200-day moving average is $75.15. The firm has a market cap of $18.91 billion, a P/E ratio of 22.37, a P/E/G ratio of 3.18 and a beta of 0.66.

Evergy (NASDAQ:EVRG) last announced its earnings results on Saturday, January 31st. The company reported $0.42 earnings per share for the quarter. Evergy had a net margin of 14.35% and a return on equity of 8.79%. Equities analysts expect that Evergy will post 3.83 earnings per share for the current year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.695 per share. The ex-dividend date is Tuesday, March 10th. This represents a $2.78 annualized dividend and a dividend yield of 3.4%. Evergy’s dividend payout ratio is currently 75.75%.

Institutional Trading of Evergy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Synergy Asset Management LLC lifted its holdings in shares of Evergy by 100.0% in the third quarter. Synergy Asset Management LLC now owns 148,940 shares of the company’s stock worth $11,322,000 after buying an additional 74,470 shares in the last quarter. Caprock Group LLC bought a new stake in Evergy during the 3rd quarter worth approximately $1,482,000. Kingsview Wealth Management LLC purchased a new stake in Evergy in the 2nd quarter worth approximately $246,000. iA Global Asset Management Inc. lifted its stake in Evergy by 207.0% in the 3rd quarter. iA Global Asset Management Inc. now owns 22,624 shares of the company’s stock worth $1,720,000 after purchasing an additional 15,254 shares in the last quarter. Finally, Davis Capital Management bought a new position in Evergy in the 3rd quarter valued at $1,379,000. 87.24% of the stock is owned by institutional investors.

Evergy Company Profile

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.