Evergy (NYSE:EVRG) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Evergy (NYSE:EVRGGet Rating) posted its earnings results on Thursday. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02, Briefing.com reports. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.23 billion. Evergy had a return on equity of 8.89% and a net margin of 15.16%. Evergy’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share.

Evergy Trading Down 0.6 %

Evergy stock traded down $0.41 during trading on Friday, reaching $67.83. 670,058 shares of the company were exchanged, compared to its average volume of 966,398. Evergy has a 52-week low of $59.34 and a 52-week high of $73.13. The company has a market capitalization of $15.57 billion, a P/E ratio of 19.11, a PEG ratio of 3.78 and a beta of 0.49. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.50 and a quick ratio of 0.33. The stock’s 50 day simple moving average is $65.59 and its two-hundred day simple moving average is $66.01.

Evergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Friday, August 19th will be paid a $0.5725 dividend. This represents a $2.29 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Thursday, August 18th. Evergy’s dividend payout ratio is presently 64.51%.

Analysts Set New Price Targets

EVRG has been the topic of several research analyst reports. Credit Suisse Group initiated coverage on Evergy in a report on Monday, April 25th. They issued an “outperform” rating and a $76.00 price objective on the stock. Wells Fargo & Company raised their price objective on Evergy from $67.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday, April 19th. Finally, UBS Group lowered Evergy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $78.00 to $70.00 in a report on Thursday, June 30th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Evergy presently has a consensus rating of “Hold” and an average target price of $71.33.

Insider Buying and Selling

In other Evergy news, Director Sandra Aj Lawrence sold 500 shares of Evergy stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $68.22, for a total value of $34,110.00. Following the sale, the director now owns 2,180 shares in the company, valued at $148,719.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 1,657 shares of company stock worth $112,987. 0.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Evergy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in Evergy by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 14,198 shares of the company’s stock valued at $969,000 after purchasing an additional 179 shares during the period. Cetera Investment Advisers grew its stake in shares of Evergy by 6.8% in the first quarter. Cetera Investment Advisers now owns 4,050 shares of the company’s stock valued at $277,000 after buying an additional 257 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Evergy by 3.5% in the first quarter. Advisors Asset Management Inc. now owns 7,753 shares of the company’s stock valued at $530,000 after buying an additional 265 shares in the last quarter. Blair William & Co. IL grew its stake in shares of Evergy by 5.5% in the first quarter. Blair William & Co. IL now owns 12,622 shares of the company’s stock valued at $863,000 after buying an additional 657 shares in the last quarter. Finally, First Republic Investment Management Inc. grew its stake in shares of Evergy by 4.4% in the first quarter. First Republic Investment Management Inc. now owns 19,981 shares of the company’s stock valued at $1,366,000 after buying an additional 841 shares in the last quarter. Hedge funds and other institutional investors own 87.39% of the company’s stock.

About Evergy

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Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Kansas and Missouri, the United States. It generates electricity through coal, hydroelectric, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources.

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Earnings History for Evergy (NYSE:EVRG)

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