Evergy, Inc. (NYSE:EVRG) Receives $56.00 Average PT from Brokerages

Evergy, Inc. (NYSE:EVRG) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $56.00.

A number of brokerages have issued reports on EVRG. LADENBURG THALM/SH SH initiated coverage on Evergy in a report on Thursday, April 4th. They set a “neutral” rating and a $51.00 price target for the company. Barclays upped their price target on Evergy from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Bank of America upgraded shares of Evergy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $51.00 to $57.00 in a research report on Wednesday, March 13th. Guggenheim downgraded shares of Evergy from a “buy” rating to a “neutral” rating and set a $52.00 target price on the stock. in a research report on Monday, January 22nd. Finally, Wells Fargo & Company cut their target price on Evergy from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, March 1st.

Evergy Stock Performance

Shares of EVRG stock opened at $52.26 on Friday. The firm has a 50 day moving average of $51.19 and a two-hundred day moving average of $50.94. The stock has a market capitalization of $12.01 billion, a PE ratio of 16.43, a P/E/G ratio of 2.70 and a beta of 0.57. The company has a quick ratio of 0.29, a current ratio of 0.51 and a debt-to-equity ratio of 1.14. Evergy has a 52 week low of $46.92 and a 52 week high of $63.84.

Evergy (NYSE:EVRG) last released its earnings results on Thursday, February 29th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Evergy had a net margin of 13.28% and a return on equity of 8.47%. During the same quarter last year, the business posted $0.30 earnings per share. On average, research analysts predict that Evergy will post 3.84 EPS for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were paid a dividend of $0.6425 per share. This represents a $2.57 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend was Friday, March 8th. Evergy’s dividend payout ratio is presently 80.82%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Metis Global Partners LLC lifted its holdings in shares of Evergy by 20.5% during the third quarter. Metis Global Partners LLC now owns 8,326 shares of the company’s stock worth $422,000 after purchasing an additional 1,419 shares during the period. CTC Alternative Strategies Ltd. acquired a new stake in shares of Evergy in the 4th quarter worth $1,121,000. RNC Capital Management LLC boosted its holdings in shares of Evergy by 8.6% in the fourth quarter. RNC Capital Management LLC now owns 586,133 shares of the company’s stock valued at $30,596,000 after acquiring an additional 46,437 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Evergy by 47.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,516,817 shares of the company’s stock worth $79,178,000 after acquiring an additional 487,322 shares during the period. Finally, Creative Planning raised its holdings in Evergy by 25.2% during the third quarter. Creative Planning now owns 107,816 shares of the company’s stock worth $5,466,000 after purchasing an additional 21,690 shares in the last quarter. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Evergy Company Profile

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.