Evergy (NYSE:EVRG) Earns Outperform Rating from Analysts at Mizuho

Mizuho began coverage on shares of Evergy (NYSE:EVRG) in a research report sent to investors on Tuesday, MarketBeat.com reports. The firm issued an outperform rating and a $67.00 price target on the stock.

EVRG has been the subject of a number of other reports. UBS Group raised Evergy to a “hold” rating in a research note on Wednesday, September 18th. Barclays decreased their target price on Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Jefferies Financial Group assumed coverage on shares of Evergy in a research note on Thursday, September 19th. They set a “buy” rating and a $70.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Evergy currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.88.

Evergy Stock Performance

Shares of NYSE:EVRG opened at $60.44 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.35 and a debt-to-equity ratio of 1.23. Evergy has a 1-year low of $47.97 and a 1-year high of $62.58. The stock has a market capitalization of $13.90 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.74 and a beta of 0.62. The business has a 50-day moving average price of $60.49 and a two-hundred day moving average price of $56.66.

Evergy (NYSE:EVRG) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.90 earnings per share for the quarter, topping 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 business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. Equities analysts predict that Evergy will post 3.84 earnings per share for the current year.

Evergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, August 20th were paid a $0.6425 dividend. This represents a $2.57 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend was Tuesday, August 20th. Evergy’s payout ratio is currently 83.17%.

Insider Transactions at Evergy

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Verity Asset Management Inc. boosted its holdings in shares of Evergy by 96.5% in the 3rd quarter. Verity Asset Management Inc. now owns 9,399 shares of the company’s stock valued at $583,000 after buying an additional 4,616 shares during the last quarter. Principal Financial Group Inc. raised its position in Evergy by 7.2% during the third quarter. Principal Financial Group Inc. now owns 278,197 shares of the company’s stock worth $17,251,000 after acquiring an additional 18,595 shares in the last quarter. Harvest Portfolios Group Inc. lifted its stake in Evergy by 3.3% in the third quarter. Harvest Portfolios Group Inc. now owns 94,911 shares of the company’s stock valued at $5,885,000 after acquiring an additional 3,045 shares during the last quarter. Sentry Investment Management LLC bought a new position in shares of Evergy in the 3rd quarter valued at about $51,000. Finally, Asset Management One Co. Ltd. increased its stake in shares of Evergy by 4.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 94,500 shares of the company’s stock worth $5,860,000 after purchasing an additional 3,810 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

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.