Evergy (NYSE:EVRG) Now Covered by Analysts at Citigroup

Citigroup began coverage on shares of Evergy (NYSE:EVRG) in a research report sent to investors on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $64.00 price objective on the stock.

Several other equities analysts have also recently weighed in on the stock. Barclays raised their price target on shares of Evergy from $54.00 to $55.00 and gave the stock an overweight rating in a research note on Thursday, March 14th. Guggenheim cut shares of Evergy from a buy rating to a neutral rating and set a $52.00 price target for the company. in a research note on Monday, January 22nd. Wells Fargo & Company decreased their target price on shares of Evergy from $60.00 to $57.00 and set an overweight rating for the company in a research note on Friday, March 1st. Finally, Bank of America raised shares of Evergy from a neutral rating to a buy rating and raised their target price for the company from $51.00 to $57.00 in a research note on Wednesday, March 13th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $57.00.

Evergy Price Performance

NYSE EVRG opened at $53.38 on Tuesday. The business has a 50 day simple moving average of $50.61 and a 200 day simple moving average of $50.98. Evergy has a 52-week low of $46.92 and a 52-week high of $63.93. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.29 and a current ratio of 0.51. The stock has a market cap of $12.26 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 2.44 and a beta of 0.56.

Evergy (NYSE:EVRG) last posted its earnings results on Thursday, February 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.46 billion. Evergy had a return on equity of 8.47% and a net margin of 13.28%. During the same period in the previous year, the company posted $0.30 earnings per share. Analysts anticipate that Evergy will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 11th were paid a $0.6425 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.57 annualized dividend and a dividend yield of 4.81%. Evergy’s dividend payout ratio is presently 80.82%.

Institutional Investors Weigh In On Evergy

Several hedge funds have recently added to or reduced their stakes in EVRG. Red Tortoise LLC lifted its holdings in Evergy by 793.5% during the 1st quarter. Red Tortoise LLC now owns 411 shares of the company’s stock valued at $25,000 after purchasing an additional 365 shares during the last quarter. Clear Street Markets LLC lifted its holdings in Evergy by 92.7% during the 1st quarter. Clear Street Markets LLC now owns 451 shares of the company’s stock valued at $28,000 after purchasing an additional 217 shares during the last quarter. CVA Family Office LLC acquired a new stake in Evergy during the 4th quarter valued at $29,000. Armstrong Advisory Group Inc. lifted its holdings in Evergy by 57.2% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 632 shares of the company’s stock valued at $32,000 after purchasing an additional 230 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in Evergy during the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Company Profile

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.