Evergy Inc. (NASDAQ:EVRG) Stock Has Average Price Target of $90.60 According to Analysts

Shares of Evergy Inc. (NASDAQ:EVRG) have received a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $91.00.

Several equities research analysts have issued reports on EVRG shares. BMO Capital Markets boosted their price objective on shares of Evergy from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Citigroup raised their target price on shares of Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Evergy in a research note on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Evergy in a research note on Friday, August 7th. Finally, BTIG Research set a $97.00 price target on Evergy in a report on Thursday, July 23rd.

Evergy Price Performance

Shares of EVRG opened at $80.96 on Wednesday. The firm has a market capitalization of $18.67 billion, a P/E ratio of 20.55, a P/E/G ratio of 2.10 and a beta of 0.50. Evergy has a 12-month low of $71.40 and a 12-month high of $88.62. The company has a current ratio of 0.36, a quick ratio of 0.21 and a debt-to-equity ratio of 1.20. The firm has a fifty day moving average price of $81.15 and a 200-day moving average price of $82.64.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. Evergy had a net margin of 15.19% and a return on equity of 9.20%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the business posted $0.82 earnings per share. Equities research analysts expect that Evergy will post 4.25 earnings per share for the current year.

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, August 18th were issued a dividend of $0.6950 per share. This represents a $2.78 annualized dividend and a yield of 3.4%. The ex-dividend date was Tuesday, August 18th. Evergy’s dividend payout ratio (DPR) is presently 70.56%.

Insider Buying and Selling

In other news, Director Jonathan Rolph bought 1,640 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was acquired at an average cost of $81.47 per share, with a total value of $133,610.80. Following the transaction, the director directly owned 670 shares in the company, valued at approximately $54,584.90. This trade represents a -169.07% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Evergy

Several hedge funds have recently made changes to their positions in the company. Magellan Asset Management Ltd acquired a new stake in Evergy in the 2nd quarter worth approximately $187,857,000. Legal & General Group Plc purchased a new stake in Evergy during the 2nd quarter worth approximately $138,233,000. Energy Income Partners LLC acquired a new position in Evergy during the 2nd quarter valued at approximately $110,394,000. The Manufacturers Life Insurance Company acquired a new position in Evergy during the 2nd quarter valued at approximately $54,307,000. Finally, Hsbc Holdings PLC acquired a new position in Evergy during the 2nd quarter valued at approximately $53,210,000. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

About Evergy

Evergy, Inc is an investor-owned electric utility holding company that provides electricity generation, transmission, distribution and related services. Through its operating utilities, the company serves residential, commercial, industrial and municipal customers in Kansas and Missouri.

Evergy’s generation portfolio includes nuclear, natural gas, coal, wind and solar resources. The company also operates and maintains electric transmission and distribution infrastructure and has invested in renewable energy and grid modernization initiatives to support reliability and the transition to lower-emission energy sources.

Evergy was formed in 2018 through the merger of Great Plains Energy Incorporated and Westar Energy, Inc Its principal operating utilities include Evergy Kansas Central, Evergy Kansas South, Evergy Missouri Metro and Evergy Missouri West.