Brokerages Set Evergy, Inc. (NYSE:EVRG) Price Target at $58.33

Evergy, Inc. (NYSE:EVRG) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $60.00.

Several equities analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Evergy in a research report on Thursday. They set a “buy” rating and a $70.00 price target on the stock. Barclays increased their target price on Evergy from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Finally, UBS Group upgraded Evergy to a “hold” rating in a research report on Wednesday.

Insider Activity at Evergy

In other news, SVP Heather A. Humphrey sold 3,347 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $58.80, for a total transaction of $196,803.60. Following the completion of the transaction, the senior vice president now owns 35,314 shares of the company’s stock, valued at $2,076,463.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Charles A. Caisley sold 9,236 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 33,425 shares in the company, valued at approximately $1,993,132.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Heather A. Humphrey sold 3,347 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 35,314 shares of the company’s stock, valued at approximately $2,076,463.20. The disclosure for this sale can be found here. Insiders sold 15,884 shares of company stock worth $941,810 in the last 90 days. 0.47% of the stock is currently owned by company insiders.

Institutional Trading of Evergy

A number of institutional investors have recently made changes to their positions in EVRG. Point72 Asset Management L.P. lifted its holdings in shares of Evergy by 1,038.7% in the fourth quarter. Point72 Asset Management L.P. now owns 3,612,200 shares of the company’s stock valued at $188,557,000 after buying an additional 3,294,967 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of Evergy during the 2nd quarter valued at about $112,464,000. Zimmer Partners LP boosted its position in shares of Evergy by 781.4% during the 1st 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 in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Evergy in the 4th quarter worth approximately $89,832,000. Finally, Vanguard Group Inc. raised its holdings in shares of Evergy by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 30,757,415 shares of the company’s stock worth $1,605,537,000 after purchasing an additional 1,399,199 shares in the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Price Performance

Shares of NYSE EVRG opened at $61.65 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 0.59 and a debt-to-equity ratio of 1.23. Evergy has a fifty-two week low of $46.92 and a fifty-two week high of $62.24. The business has a 50 day moving average price of $58.63 and a two-hundred day moving average price of $54.92. The firm has a market cap of $14.18 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 3.12 and a beta of 0.62.

Evergy (NYSE:EVRG) last released 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. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.32 billion. Evergy had a net margin of 13.12% and a return on equity of 8.50%. During the same quarter last year, the company earned $0.81 earnings per share. Sell-side analysts expect that Evergy will post 3.85 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The business also recently declared 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. This represents a $2.57 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Tuesday, August 20th. Evergy’s payout ratio 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.