Evergy (NYSE:EVRG) Updates FY22 Earnings Guidance

Evergy (NYSE:EVRGGet Rating) updated its FY22 earnings guidance on Thursday. The company provided EPS guidance of $3.43-3.63 for the period, compared to the consensus EPS estimate of $3.55. Evergy also updated its FY 2022 guidance to $3.43-$3.63 EPS.

Evergy Price Performance

Shares of EVRG stock traded down $0.41 during midday trading on Friday, reaching $67.83. 670,058 shares of the company traded hands, compared to its average volume of 966,398. The firm’s 50 day simple moving average is $65.59 and its two-hundred day simple moving average is $66.01. The firm has a market cap of $15.57 billion, a PE ratio of 19.11, a price-to-earnings-growth 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. Evergy has a 1-year low of $59.34 and a 1-year high of $73.13.

Evergy (NYSE:EVRGGet Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. The company 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 was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 earnings per share. On average, equities research analysts expect that Evergy will post 3.53 EPS for the current fiscal year.

Evergy Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on EVRG shares. Wells Fargo & Company upped their price objective on Evergy from $67.00 to $75.00 and gave the company an equal weight rating in a research report on Tuesday, April 19th. Credit Suisse Group began coverage on Evergy in a research report on Monday, April 25th. They issued an outperform rating and a $76.00 price objective on the stock. Finally, UBS Group downgraded Evergy from a buy rating to a neutral rating and reduced their target price for the stock from $78.00 to $70.00 in a research report on Thursday, June 30th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $71.33.

Insider Activity

In other news, Director Sandra Aj Lawrence sold 500 shares of the stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $69.48, for a total value of $34,740.00. Following the completion of the sale, the director now owns 1,680 shares in the company, valued at $116,726.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders sold 1,657 shares of company stock worth $112,987. 0.47% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Evergy

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Evergy by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 29,339,970 shares of the company’s stock valued at $2,005,093,000 after purchasing an additional 509,404 shares in the last quarter. State Street Corp grew its position in shares of Evergy by 10.8% in the 1st quarter. State Street Corp now owns 13,874,020 shares of the company’s stock worth $948,151,000 after acquiring an additional 1,356,321 shares in the last quarter. Northern Trust Corp grew its position in shares of Evergy by 10.0% in the 1st quarter. Northern Trust Corp now owns 2,390,230 shares of the company’s stock worth $163,348,000 after acquiring an additional 217,309 shares in the last quarter. First Trust Advisors LP grew its position in shares of Evergy by 2.0% in the 1st quarter. First Trust Advisors LP now owns 1,658,752 shares of the company’s stock worth $113,359,000 after acquiring an additional 33,118 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Evergy by 3.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,291,077 shares of the company’s stock worth $88,233,000 after acquiring an additional 45,647 shares in the last quarter. Institutional investors and hedge funds own 87.39% of the company’s stock.

Evergy Company Profile

(Get Rating)

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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