Evergy (NASDAQ:EVRG) Price Target Raised to $92.00

Evergy (NASDAQ:EVRG) had its target price boosted by BMO Capital Markets from $88.00 to $92.00 in a report issued on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also weighed in on EVRG. Bank of America decreased their price target on Evergy from $89.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. BTIG Research started coverage on shares of Evergy in a research note on Thursday, April 9th. They set a “buy” rating and a $99.00 price objective for the company. UBS Group raised their target price on shares of Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Barclays lifted their target price on shares of Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. Finally, Wells Fargo & Company set a $87.00 price target on shares of Evergy in a report on Tuesday, April 21st. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.60.

Evergy Price Performance

Shares of NASDAQ:EVRG opened at $87.18 on Wednesday. Evergy has a one year low of $68.05 and a one year high of $88.62. The stock has a fifty day moving average of $84.49 and a 200-day moving average of $81.66. The company has a market capitalization of $20.10 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.24 and a current ratio of 0.45.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.06. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.27 billion. Evergy had a return on equity of 9.09% and a net margin of 14.63%.The company’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $0.54 EPS. As a group, equities analysts anticipate that Evergy will post 4.25 EPS for the current fiscal year.

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.695 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.2%. Evergy’s payout ratio is currently 73.74%.

Insider Buying and Selling at Evergy

In related news, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $83.46, for a total value of $900,283.02. Following the completion of the sale, the executive vice president directly owned 37,789 shares of the company’s stock, valued at approximately $3,153,869.94. This represents a 22.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sandra Aj Lawrence sold 761 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $83.31, for a total value of $63,398.91. Following the completion of the sale, the director directly owned 1,680 shares of the company’s stock, valued at approximately $139,960.80. This represents a 31.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,748 shares of company stock worth $1,061,870 over the last three months. 1.52% of the stock is owned by insiders.

Institutional Trading of Evergy

A number of hedge funds have recently made changes to their positions in EVRG. MidFirst Bank purchased a new position in Evergy during the fourth quarter valued at approximately $25,000. Harbor Capital Advisors Inc. purchased a new stake in Evergy in the 4th quarter worth approximately $27,000. Prosperity Bancshares Inc acquired a new stake in shares of Evergy during the 4th quarter valued at $32,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Evergy during the 1st quarter valued at $40,000. Finally, Triumph Capital Management grew its holdings in shares of Evergy by 104.8% during the 4th quarter. Triumph Capital Management now owns 508 shares of the company’s stock valued at $37,000 after acquiring an additional 260 shares in the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

About Evergy

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.