Evergy (NASDAQ:EVRG) Director Purchases $133,610.80 in Stock

Evergy Inc. (NASDAQ:EVRG) Director Jonathan Rolph bought 1,640 shares of the stock in a transaction on Friday, September 11th. The stock was purchased at an average cost of $81.47 per share, with a total value of $133,610.80. Following the acquisition, the director owned 670 shares in the company, valued at approximately $54,584.90. This represents a -169.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Evergy Stock Performance

Shares of EVRG stock opened at $80.84 on Friday. The firm has a market capitalization of $18.64 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 2.09 and a beta of 0.53. 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 business’s 50-day moving average price is $83.18 and its 200-day moving average price is $82.99. Evergy Inc. has a 12 month low of $71.20 and a 12 month high of $88.62.

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

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, August 18th. Evergy’s payout ratio is 70.56%.

Wall Street Analyst Weigh In

EVRG has been the subject of a number of recent research reports. Citigroup increased their price objective on Evergy from $95.00 to $97.00 and gave the company a “buy” rating in a report on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Evergy in a report on Friday, August 7th. Barclays upped their price target on Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. BTIG Research set a $97.00 price target on Evergy in a research note on Thursday, July 23rd. Finally, BMO Capital Markets raised their price objective on Evergy from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Evergy presently has an average rating of “Moderate Buy” and an average price target of $90.60.

Institutional Investors Weigh In On Evergy

Institutional investors have recently modified their holdings of the company. Rakuten Investment Management Inc. acquired a new position in Evergy during the 2nd quarter worth approximately $3,279,000. Bank of Nova Scotia bought a new position in Evergy in the second quarter worth approximately $3,569,000. Cullen Frost Bankers Inc. grew its stake in Evergy by 4.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 316,511 shares of the company’s stock valued at $22,944,000 after acquiring an additional 14,907 shares during the period. Greenland Capital Management LP acquired a new stake in Evergy in the second quarter valued at approximately $8,230,000. Finally, Vestcor Inc increased its holdings in shares of Evergy by 49.6% during the fourth quarter. Vestcor Inc now owns 174,330 shares of the company’s stock valued at $12,637,000 after acquiring an additional 57,795 shares in the last quarter. 87.24% of the stock is owned by institutional investors.

About Evergy

Evergy, Inc is an investor-owned electric utility that generates, transmits, distributes and sells electricity to residential, commercial, industrial and other customers. The company operates regulated utilities and provides electric service through its Kansas and Missouri subsidiaries.

Evergy serves customers across much of Kansas and in western Missouri, including the Kansas City metropolitan area. Its generation portfolio includes a mix of renewable and conventional resources, such as wind, solar, natural gas and coal, as well as an ownership interest in the Wolf Creek nuclear generating station in Kansas.

The company was formed in 2018 through the merger of Great Plains Energy Incorporated and Westar Energy, Inc Evergy is headquartered in Topeka, Kansas, with significant operations in the Kansas City region.