Evergy, Inc. (NYSE:EVRG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Evergy, Inc. (NYSE:EVRG) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $57.83.

Several brokerages have recently commented on EVRG. Barclays increased their target price on shares of Evergy from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Wells Fargo & Company raised their price objective on shares of Evergy from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, May 10th.

Hedge Funds Weigh In On Evergy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVRG. SG Americas Securities LLC boosted its position in Evergy by 22.1% during the fourth quarter. SG Americas Securities LLC now owns 19,263 shares of the company’s stock worth $1,006,000 after purchasing an additional 3,482 shares during the period. Raymond James & Associates boosted its position in Evergy by 7.6% during the fourth quarter. Raymond James & Associates now owns 65,974 shares of the company’s stock worth $3,444,000 after purchasing an additional 4,655 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Evergy by 30.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 78,852 shares of the company’s stock worth $4,116,000 after purchasing an additional 18,555 shares during the period. Blue Trust Inc. boosted its position in Evergy by 35.1% during the fourth quarter. Blue Trust Inc. now owns 1,217 shares of the company’s stock worth $62,000 after purchasing an additional 316 shares during the period. Finally, Global Retirement Partners LLC boosted its position in Evergy by 13.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,821 shares of the company’s stock worth $96,000 after purchasing an additional 216 shares during the period. Institutional investors own 87.24% of the company’s stock.

Evergy Stock Performance

Shares of EVRG stock opened at $60.16 on Monday. The firm has a 50-day moving average of $54.21 and a 200-day moving average of $52.60. The company has a market cap of $13.83 billion, a P/E ratio of 19.47, a P/E/G ratio of 3.11 and a beta of 0.60. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.57 and a quick ratio of 0.32. Evergy has a one year low of $46.92 and a one year high of $61.14.

Evergy (NYSE:EVRG) last announced its earnings results on Thursday, May 9th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.07). The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Evergy had a net margin of 12.84% and a return on equity of 8.32%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. Equities research analysts forecast that Evergy will post 3.84 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, May 20th were given a dividend of $0.6425 per share. The ex-dividend date was Friday, May 17th. This represents a $2.57 dividend on an annualized basis and a yield of 4.27%. Evergy’s dividend payout ratio is presently 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.