Analysts Set Evergy Inc. (NASDAQ:EVRG) Target Price at $90.40

Evergy Inc. (NASDAQ:EVRG) has earned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $90.60.

A number of analysts have commented on EVRG shares. Wells Fargo & Company set a $87.00 price target on Evergy in a research report on Tuesday, April 21st. BMO Capital Markets boosted their price objective on Evergy from $88.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of Evergy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. UBS Group lifted their price target on shares of Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Citigroup increased their price objective on shares of Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday.

Insider Transactions at Evergy

In other news, Director Sandra Aj Lawrence sold 600 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $81.41, for a total value of $48,846.00. Following the transaction, the director directly owned 680 shares in the company, valued at $55,358.80. The trade was a 46.88% 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, EVP Charles A. Caisley sold 10,787 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $83.46, for a total value of $900,283.02. Following the completion of the transaction, the executive vice president directly owned 37,789 shares of the company’s stock, valued at approximately $3,153,869.94. This trade represents a 22.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have 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

Several hedge funds have recently modified their holdings of EVRG. Adage Capital Partners GP L.L.C. grew its position in shares of Evergy by 476.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,207,882 shares of the company’s stock valued at $87,559,000 after purchasing an additional 998,400 shares in the last quarter. Freestone Grove Partners LP lifted its position in shares of Evergy by 321.1% in the fourth quarter. Freestone Grove Partners LP now owns 854,739 shares of the company’s stock worth $61,960,000 after buying an additional 651,738 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Evergy by 122.4% during the fourth quarter. Renaissance Technologies LLC now owns 811,202 shares of the company’s stock valued at $58,804,000 after buying an additional 446,400 shares during the last quarter. BROOKFIELD Corp ON bought a new position in Evergy during the second quarter valued at approximately $29,644,000. Finally, Zimmer Partners LP grew its holdings in Evergy by 147.8% during the 4th quarter. Zimmer Partners LP now owns 137,500 shares of the company’s stock valued at $9,967,000 after buying an additional 425,000 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Stock Performance

Shares of EVRG stock opened at $87.18 on Friday. Evergy has a 1 year low of $68.05 and a 1 year high of $88.62. The firm has a fifty day moving average price of $84.49 and a 200-day moving average price of $81.73. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.45 and a quick ratio of 0.24. The company has a market cap of $20.10 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 2.26 and a beta of 0.54.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.63 by $0.06. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.27 billion. Evergy had a return on equity of 9.09% and a net margin of 14.63%.Evergy’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 EPS. As a group, equities analysts predict that Evergy will post 4.25 earnings per share for the current year.

Evergy Dividend Announcement

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

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.