Evergy Inc. (NASDAQ:EVRG) Increases Dividend to $0.70 Per Share

Evergy Inc. (NASDAQ:EVRG) declared a quarterly dividend on Thursday, November 6th. Stockholders of record on Friday, November 21st will be given a dividend of 0.695 per share on Friday, December 19th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, November 21st. This is a 4.1% increase from Evergy’s previous quarterly dividend of $0.67.

Evergy has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 20 consecutive years. Evergy has a dividend payout ratio of 62.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Evergy to earn $4.03 per share next year, which means the company should continue to be able to cover its $2.67 annual dividend with an expected future payout ratio of 66.3%.

Evergy Stock Performance

Shares of NASDAQ EVRG traded down $1.21 during trading on Thursday, hitting $75.56. The company had a trading volume of 3,341,496 shares, compared to its average volume of 2,299,115. The stock has a 50 day simple moving average of $75.01 and a 200 day simple moving average of $70.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50. Evergy has a 12 month low of $59.67 and a 12 month high of $79.32. The firm has a market capitalization of $17.39 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Thursday, November 6th. The company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.11). Evergy had a return on equity of 8.62% and a net margin of 14.29%.The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the business earned $2.02 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. Evergy has set its FY 2025 guidance at 3.920-4.020 EPS. As a group, analysts anticipate that Evergy will post 3.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EVRG. Barclays reissued an “outperform” rating on shares of Evergy in a research note on Thursday, October 9th. Jefferies Financial Group lifted their target price on Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Mizuho lifted their target price on Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Evergy in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company raised Evergy to a “hold” rating in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $79.61.

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.