Evergy, Inc. (NYSE:EVRG) Given Average Recommendation of “Buy” by Brokerages

Evergy, Inc. (NYSE:EVRG) has received an average rating of “Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $68.00.

A number of analysts have recently issued reports on the stock. Bank of America downgraded shares of Evergy from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a report on Wednesday, September 15th. Evercore ISI reiterated a “buy” rating and issued a $70.00 price objective on shares of Evergy in a report on Wednesday, September 22nd. Wells Fargo & Company lowered their price objective on shares of Evergy from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 22nd. Seaport Res Ptn reiterated a “buy” rating on shares of Evergy in a report on Wednesday, July 7th. Finally, The Goldman Sachs Group upgraded shares of Evergy from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Tuesday, June 15th.

In related news, CFO Kirkland B. Andrews acquired 7,875 shares of Evergy stock in a transaction on Thursday, September 23rd. The stock was purchased at an average cost of $63.67 per share, with a total value of $501,401.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C John Wilder bought 19,840 shares of Evergy stock in a transaction dated Thursday, September 23rd. The stock was acquired at an average cost of $63.70 per share, with a total value of $1,263,808.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 35,565 shares of company stock valued at $2,264,940. Company insiders own 0.47% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Ameritas Investment Company LLC bought a new stake in shares of Evergy in the first quarter valued at about $30,000. Pacitti Group Inc. lifted its position in Evergy by 43.9% during the second quarter. Pacitti Group Inc. now owns 498 shares of the company’s stock worth $30,000 after purchasing an additional 152 shares during the period. Bellwether Advisors LLC bought a new stake in Evergy during the second quarter worth about $36,000. PNC Managed Account Solutions Inc. bought a new stake in Evergy during the second quarter worth about $42,000. Finally, Eagle Bay Advisors LLC bought a new stake in Evergy during the second quarter worth about $56,000. 85.80% of the stock is owned by institutional investors.

EVRG stock traded up $0.98 during mid-day trading on Wednesday, hitting $64.13. 17,487 shares of the company were exchanged, compared to its average volume of 1,455,411. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.44 and a current ratio of 0.64. The firm has a market cap of $14.70 billion, a P/E ratio of 18.20, a P/E/G ratio of 3.42 and a beta of 0.38. The firm’s 50 day simple moving average is $66.61 and its 200 day simple moving average is $63.54. Evergy has a 1-year low of $48.78 and a 1-year high of $69.45.

Evergy (NYSE:EVRG) last posted its quarterly earnings data on Thursday, August 5th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.12. Evergy had a net margin of 14.51% and a return on equity of 8.82%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the company earned $0.68 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts predict that Evergy will post 3.33 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 20th. Investors of record on Friday, August 20th were issued a dividend of $0.535 per share. The ex-dividend date of this dividend was Thursday, August 19th. This represents a $2.14 dividend on an annualized basis and a yield of 3.34%. Evergy’s payout ratio is 69.03%.

Evergy Company Profile

Evergy, Inc is a holding company, which engages in the provision of electricity through its subsidiaries. It focuses on the regulation of electric utilities and development of electric transmission projects. The company was founded in 2017 and is headquartered in Kansas City, MO.

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Analyst Recommendations for Evergy (NYSE:EVRG)

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