Evergy (NASDAQ:EVRG) Given New $88.00 Price Target at Bank of America

Evergy (NASDAQ:EVRG) had its price objective cut by Bank of America from $89.00 to $88.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also weighed in on EVRG. Weiss Ratings reiterated a “buy (b-)” rating on shares of Evergy in a report on Monday, December 29th. BMO Capital Markets increased their target price on shares of Evergy from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Monday, February 23rd. UBS Group lowered shares of Evergy from a “buy” rating to a “neutral” rating and increased their target price for the stock from $86.00 to $88.00 in a report on Friday, February 13th. Wall Street Zen upgraded shares of Evergy from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Finally, BTIG Research started coverage on shares of Evergy in a report on Thursday, April 9th. They issued a “buy” rating and a $99.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.90.

Evergy Trading Down 0.6%

EVRG opened at $81.92 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.49 and a quick ratio of 0.27. The company has a market cap of $18.86 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 2.13 and a beta of 0.61. The firm has a 50 day simple moving average of $81.57 and a 200 day simple moving average of $77.73. Evergy has a fifty-two week low of $63.29 and a fifty-two week high of $85.27.

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

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th were given a dividend of $0.695 per share. The ex-dividend date of this dividend was 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%.

Insider Transactions at Evergy

In other news, SVP Heather A. Humphrey sold 3,650 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $82.61, for a total transaction of $301,526.50. Following the completion of the sale, the senior vice president owned 44,007 shares of the company’s stock, valued at $3,635,418.27. This represents a 7.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann D. Murtlow sold 2,847 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $82.34, for a total transaction of $234,421.98. Following the sale, the director directly owned 2,311 shares of the company’s stock, valued at $190,287.74. This represents a 55.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,937 shares of company stock valued at $736,492 over the last quarter. Corporate insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. MidFirst Bank acquired a new position in Evergy during the fourth quarter worth $25,000. Harbor Capital Advisors Inc. acquired a new position in Evergy during the fourth quarter worth $27,000. Accredited Wealth Management LLC boosted its holdings in Evergy by 1,310.3% during the third quarter. Accredited Wealth Management LLC now owns 409 shares of the company’s stock worth $31,000 after purchasing an additional 380 shares during the last quarter. Prosperity Bancshares Inc acquired a new position in Evergy during the fourth quarter worth $32,000. Finally, Triumph Capital Management boosted its holdings in Evergy by 104.8% during the fourth quarter. Triumph Capital Management now owns 508 shares of the company’s stock worth $37,000 after purchasing an additional 260 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

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.