Evergy (NASDAQ:EVRG) Price Target Raised to $92.00 at BMO Capital Markets

Evergy (NASDAQ:EVRG) had its price target upped by BMO Capital Markets from $88.00 to $92.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently commented on EVRG. Barclays lifted their price target on shares of Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Wells Fargo & Company set a $87.00 price objective on Evergy in a report on Tuesday, April 21st. BTIG Research assumed coverage on Evergy in a research report on Thursday, April 9th. They issued a “buy” rating and a $99.00 target price for the company. Bank of America decreased their target price on Evergy from $89.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Finally, Weiss Ratings upgraded Evergy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $90.60.

Evergy Price Performance

EVRG opened at $86.56 on Wednesday. The firm has a market cap of $19.95 billion, a P/E ratio of 22.96, a PEG ratio of 2.21 and a beta of 0.54. The firm has a 50-day moving average of $84.28 and a 200 day moving average of $81.53. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.24 and a current ratio of 0.45. Evergy has a fifty-two week low of $68.05 and a fifty-two week high of $88.62.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.27 billion. Evergy had a net margin of 14.63% and a return on equity of 9.09%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 earnings per share. On average, research analysts expect that Evergy will post 4.24 EPS for the current year.

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, May 22nd were given a $0.695 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.78 annualized dividend and a dividend yield of 3.2%. Evergy’s payout ratio is 73.74%.

Insider Activity at Evergy

In related news, EVP Charles A. Caisley sold 10,787 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $83.46, for a total transaction of $900,283.02. Following the sale, the executive vice president directly owned 37,789 shares in the company, valued at approximately $3,153,869.94. This represents a 22.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sandra Aj Lawrence sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $81.41, for a total transaction of $48,846.00. Following the completion of the transaction, the director directly owned 680 shares of the company’s stock, valued at approximately $55,358.80. This trade represents a 46.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 12,748 shares of company stock worth $1,061,870. Insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Evergy

Large investors have recently made changes to their positions in the stock. MidFirst Bank bought a new stake in shares of Evergy during the 4th quarter valued at $25,000. Harbor Capital Advisors Inc. bought a new position in Evergy in the 4th quarter worth about $27,000. Prosperity Bancshares Inc purchased a new position in Evergy during the 4th quarter valued at about $32,000. Triumph Capital Management grew its holdings in Evergy by 104.8% during the 4th quarter. Triumph Capital Management now owns 508 shares of the company’s stock valued at $37,000 after buying an additional 260 shares in the last quarter. Finally, Transamerica Financial Advisors LLC increased its position in shares of Evergy by 163.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 529 shares of the company’s stock valued at $38,000 after buying an additional 328 shares during the period. 87.24% of the stock is 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.