Brokerages Set Evergy, Inc. (NYSE:EVRG) Target Price at $61.88

Shares of Evergy, Inc. (NYSE:EVRG) have received an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $61.88.

Several research analysts have weighed in on the stock. Barclays lowered their target price on shares of Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Wells Fargo & Company upped their price target on Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Mizuho assumed coverage on Evergy in a report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price objective for the company. UBS Group raised Evergy to a “hold” rating in a report on Wednesday, September 18th. Finally, Jefferies Financial Group assumed coverage on Evergy in a research note on Thursday, September 19th. They set a “buy” rating and a $70.00 price target for the company.

Evergy Trading Up 0.6 %

NYSE EVRG opened at $63.68 on Wednesday. Evergy has a 52-week low of $47.97 and a 52-week high of $64.07. The firm has a 50-day moving average price of $60.94 and a 200 day moving average price of $57.33. The stock has a market capitalization of $14.64 billion, a P/E ratio of 17.21, a P/E/G ratio of 2.78 and a beta of 0.62. The company has a quick ratio of 0.35, a current ratio of 0.55 and a debt-to-equity ratio of 1.15.

Evergy (NYSE:EVRG) last posted its quarterly earnings results on Thursday, November 7th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.95 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned $1.88 EPS. Equities research analysts expect that Evergy will post 3.84 EPS for the current year.

Evergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, November 21st will be issued a $0.6675 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.67 dividend on an annualized basis and a yield of 4.19%. This is a boost from Evergy’s previous quarterly dividend of $0.64. Evergy’s dividend payout ratio (DPR) is currently 69.46%.

Insider Buying and Selling at Evergy

In other news, SVP Charles A. Caisley sold 9,236 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Heather A. Humphrey sold 3,347 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $58.80, for a total value of $196,803.60. Following the completion of the sale, the senior vice president now directly owns 35,314 shares in the company, valued at approximately $2,076,463.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Charles A. Caisley sold 9,236 shares of Evergy stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total value of $550,742.68. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

Institutional Trading of Evergy

A number of institutional investors and hedge funds have recently modified their holdings of EVRG. Wealth Enhancement Advisory Services LLC lifted its holdings in Evergy by 11.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,394 shares of the company’s stock worth $875,000 after buying an additional 1,649 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Evergy by 13.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,940 shares of the company’s stock worth $2,964,000 after buying an additional 6,119 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Evergy by 10.0% in the first quarter. Janney Montgomery Scott LLC now owns 13,464 shares of the company’s stock valued at $719,000 after purchasing an additional 1,229 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Evergy by 7.5% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,917 shares of the company’s stock worth $316,000 after acquiring an additional 414 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in shares of Evergy in the first quarter valued at $32,000. 87.24% of the stock is currently owned by institutional investors.

About Evergy

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.