Zacks Research Forecasts Evergy’s Q3 Earnings (NYSE:EVRG)

Evergy, Inc. (NYSE:EVRG) – Zacks Research reduced their Q3 2024 EPS estimates for Evergy in a research note issued on Wednesday, October 16th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $1.98 for the quarter, down from their prior estimate of $1.99. The consensus estimate for Evergy’s current full-year earnings is $3.84 per share. Zacks Research also issued estimates for Evergy’s FY2025 earnings at $4.02 EPS and Q3 2026 earnings at $2.08 EPS.

Evergy (NYSE:EVRG) last posted its earnings results on Friday, August 9th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. Evergy had a net margin of 13.12% and a return on equity of 8.50%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm posted $0.81 earnings per share.

EVRG has been the subject of a number of other reports. Wells Fargo & Company raised their price target on Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday. Jefferies Financial Group started coverage on Evergy in a research report on Thursday, September 19th. They issued a “buy” rating and a $70.00 price target for the company. Barclays raised their price target on Evergy from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Finally, UBS Group upgraded Evergy to a “hold” rating in a research report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.00.

Evergy Trading Up 0.6 %

EVRG stock opened at $61.12 on Thursday. The firm has a market cap of $14.05 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.65 and a beta of 0.62. The firm has a fifty day moving average price of $60.11 and a 200 day moving average price of $56.14. Evergy has a fifty-two week low of $47.46 and a fifty-two week high of $62.58. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.35 and a current ratio of 0.59.

Hedge Funds Weigh In On Evergy

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Evergy by 0.9% in the first quarter. Vanguard Group Inc. now owns 31,046,328 shares of the company’s stock valued at $1,657,253,000 after purchasing an additional 288,913 shares during the last quarter. Millennium Management LLC grew its stake in Evergy by 38.6% in the second quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock valued at $195,089,000 after purchasing an additional 1,026,374 shares during the last quarter. Federated Hermes Inc. grew its stake in Evergy by 18.8% in the second quarter. Federated Hermes Inc. now owns 3,490,674 shares of the company’s stock valued at $184,901,000 after purchasing an additional 552,455 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in Evergy by 5.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,686,541 shares of the company’s stock valued at $141,787,000 after purchasing an additional 134,236 shares during the last quarter. Finally, Zimmer Partners LP grew its stake in Evergy by 781.4% in the first quarter. Zimmer Partners LP now owns 2,326,385 shares of the company’s stock valued at $124,182,000 after purchasing an additional 2,062,434 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Insider Transactions at Evergy

In other news, SVP Charles A. Caisley sold 9,236 shares of Evergy stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total transaction of $550,742.68. Following the completion of the sale, the senior vice president now directly owns 33,425 shares in the company, valued at approximately $1,993,132.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Charles A. Caisley sold 9,236 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total transaction of $550,742.68. Following the transaction, the senior vice president now owns 33,425 shares in the company, valued at approximately $1,993,132.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ann D. Murtlow sold 3,301 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total value of $194,263.85. Following the transaction, the director now owns 2,847 shares in the company, valued at approximately $167,545.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,884 shares of company stock worth $941,810. 0.47% of the stock is currently owned by insiders.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.6425 per share. The ex-dividend date was Tuesday, August 20th. This represents a $2.57 annualized dividend and a dividend yield of 4.20%. Evergy’s dividend payout ratio (DPR) is 83.17%.

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.