Brokers Offer Predictions for Evergy, Inc.’s Q3 2024 Earnings (NYSE:EVRG)

Evergy, Inc. (NYSE:EVRG) – Zacks Research dropped their Q3 2024 earnings per share estimates for Evergy in a note issued to investors on Wednesday, October 16th. Zacks Research analyst R. Department now anticipates 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 released its quarterly earnings data on Friday, August 9th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm earned $0.81 EPS.

Other research analysts have also issued reports about the company. Barclays lifted 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. Wells Fargo & Company boosted their price objective on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday. Jefferies Financial Group initiated coverage on shares of Evergy in a report on Thursday, September 19th. They set a “buy” rating and a $70.00 target price on the stock. Finally, UBS Group upgraded shares of Evergy to a “hold” rating in a report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.00.

Evergy Price Performance

Shares of EVRG stock opened at $61.15 on Thursday. 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 12-month low of $47.46 and a 12-month high of $62.58. The firm has a fifty day moving average of $60.03 and a 200-day moving average of $56.05. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 2.65 and a beta of 0.62.

Hedge Funds Weigh In On Evergy

Institutional investors have recently bought and sold shares of the business. Fairscale Capital LLC acquired a new stake in shares of Evergy in the second quarter valued at approximately $27,000. Fidelis Capital Partners LLC bought a new position in Evergy during the first quarter worth $32,000. Hexagon Capital Partners LLC increased its holdings in shares of Evergy by 47.1% in the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after purchasing an additional 170 shares during the last quarter. Toth Financial Advisory Corp increased its holdings in shares of Evergy by 199.5% in the first quarter. Toth Financial Advisory Corp now owns 635 shares of the company’s stock valued at $34,000 after purchasing an additional 423 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Evergy in the second quarter valued at about $37,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Insider Transactions at Evergy

In related news, SVP Heather A. Humphrey sold 3,347 shares of Evergy stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $58.80, for a total value of $196,803.60. Following the sale, the senior vice president now owns 35,314 shares of the company’s stock, valued at approximately $2,076,463.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Charles A. Caisley sold 9,236 shares of Evergy stock in a transaction dated 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 transaction, the senior vice president now owns 33,425 shares of the company’s stock, valued at $1,993,132.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Heather A. Humphrey sold 3,347 shares of the company’s stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,884 shares of company stock worth $941,810 in the last three months. Insiders own 0.47% of the company’s stock.

Evergy Announces Dividend

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

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.