Evergy Inc. (NASDAQ:EVRG) Receives $88.90 Average Target Price from Analysts

Evergy Inc. (NASDAQ:EVRG) has been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $88.90.

EVRG has been the topic of several recent research reports. Wells Fargo & Company boosted their target price on Evergy from $79.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, February 20th. Mizuho set a $82.00 target price on Evergy in a report on Monday, February 23rd. Citigroup raised their target price on Evergy from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. BTIG Research started coverage on Evergy in a report on Thursday, April 9th. They set a “buy” rating and a $99.00 price target on the stock. Finally, UBS Group lowered shares of Evergy from a “buy” rating to a “neutral” rating and upped their price objective for the company from $86.00 to $88.00 in a report on Friday, February 13th.

Insider Activity

In other news, Director Ann D. Murtlow sold 2,847 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $82.34, for a total transaction of $234,421.98. Following the completion of the sale, the director owned 2,311 shares in the company, valued at $190,287.74. This trade represents a 55.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Charles L. King sold 2,440 shares of Evergy stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $82.19, for a total transaction of $200,543.60. Following the sale, the senior vice president directly owned 18,359 shares in the company, valued at approximately $1,508,926.21. The trade was a 11.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 8,937 shares of company stock valued at $736,492 in the last 90 days. Company insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Evergy

Several large investors have recently modified their holdings of the business. Synergy Asset Management LLC boosted its position in shares of Evergy by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 148,940 shares of the company’s stock worth $11,322,000 after purchasing an additional 74,470 shares during the period. Caprock Group LLC purchased a new stake in Evergy in the third quarter valued at approximately $1,482,000. ANTIPODES PARTNERS Ltd acquired a new position in Evergy during the third quarter worth $72,860,000. Oppenheimer Asset Management Inc. boosted its position in shares of Evergy by 9.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 209,307 shares of the company’s stock worth $15,912,000 after buying an additional 18,783 shares during the period. Finally, iA Global Asset Management Inc. boosted its position in shares of Evergy by 207.0% during the third quarter. iA Global Asset Management Inc. now owns 22,624 shares of the company’s stock worth $1,720,000 after buying an additional 15,254 shares during the period. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Price Performance

Shares of NASDAQ EVRG opened at $82.37 on Wednesday. The firm has a 50-day simple moving average of $81.86 and a 200-day simple moving average of $77.84. The company has a quick ratio of 0.27, a current ratio of 0.49 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $18.97 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 2.12 and a beta of 0.61. Evergy has a 52 week low of $63.29 and a 52 week high of $85.27.

Evergy (NASDAQ:EVRG) last posted its quarterly 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%. On average, equities analysts predict that Evergy will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th were issued a $0.695 dividend. This represents a $2.78 annualized dividend and a yield of 3.4%. The ex-dividend date was Tuesday, March 10th. Evergy’s payout ratio is presently 75.75%.

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.