Analysts Set Evergy Inc. (NASDAQ:EVRG) PT at $78.07

Evergy Inc. (NASDAQ:EVRG) has earned a consensus recommendation of “Buy” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $78.0714.

A number of equities research analysts recently weighed in on the stock. Mizuho lifted their price objective on shares of Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Jefferies Financial Group lifted their price objective on shares of Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Barclays reiterated an “outperform” rating on shares of Evergy in a report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Evergy in a report on Wednesday, October 8th.

Evergy Price Performance

Evergy stock opened at $77.96 on Wednesday. The firm has a 50-day moving average price of $74.17 and a 200-day moving average price of $70.31. The firm has a market capitalization of $17.94 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 3.60 and a beta of 0.57. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. Evergy has a 12-month low of $59.23 and a 12-month high of $79.32.

Evergy (NASDAQ:EVRG) last released its earnings results on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the business earned $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. As a group, equities research analysts forecast that Evergy will post 3.83 EPS for the current year.

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were issued a dividend of $0.6675 per share. The ex-dividend date was Friday, August 22nd. This represents a $2.67 dividend on an annualized basis and a yield of 3.4%. Evergy’s dividend payout ratio (DPR) is presently 73.35%.

Insiders Place Their Bets

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $72.33, for a total transaction of $578,640.00. Following the completion of the sale, the senior vice president owned 499 shares in the company, valued at $36,092.67. This trade represents a 94.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. MGO One Seven LLC increased its position in Evergy by 3.5% during the 3rd quarter. MGO One Seven LLC now owns 7,422 shares of the company’s stock valued at $564,000 after purchasing an additional 250 shares during the period. Citizens Financial Group Inc. RI purchased a new position in Evergy during the 3rd quarter valued at about $280,000. Washington Trust Bank purchased a new position in Evergy during the 3rd quarter valued at about $228,000. Associated Banc Corp purchased a new position in Evergy during the 3rd quarter valued at about $512,000. Finally, Miller Howard Investments Inc. NY increased its position in Evergy by 4.4% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 19,461 shares of the company’s stock valued at $1,479,000 after purchasing an additional 823 shares during the period. Hedge funds and other institutional investors own 87.24% of the company’s stock.

About Evergy

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.