Evergy (NYSE:EVRG) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Evergy (NYSE:EVRG) announced its quarterly earnings results on Thursday. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.07, Briefing.com reports. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $2.35 billion. Evergy had a net margin of 13.12% and a return on equity of 8.50%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.88 EPS.

Evergy Price Performance

Shares of EVRG stock traded up $1.10 during midday trading on Friday, reaching $62.51. 2,698,304 shares of the company traded hands, compared to its average volume of 2,065,826. The firm’s 50 day simple moving average is $60.71 and its two-hundred day simple moving average is $57.03. The firm has a market cap of $14.37 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 2.66 and a beta of 0.62. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.59 and a quick ratio of 0.35. Evergy has a 1-year low of $47.97 and a 1-year high of $62.58.

Evergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.6675 per share. This is a positive change from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Thursday, November 21st. Evergy’s payout ratio is presently 80.06%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EVRG shares. Barclays lowered their price target on Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Wells Fargo & Company upped their price objective on Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Mizuho assumed coverage on Evergy in a research note on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price objective for the company. Jefferies Financial Group began coverage on shares of Evergy in a research note 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 research note on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.88.

Insider Buying and Selling

In other Evergy news, SVP Heather A. Humphrey sold 3,347 shares of the firm’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 transaction, the senior vice president now directly owns 35,314 shares in the company, valued at approximately $2,076,463.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Evergy news, SVP Charles A. Caisley sold 9,236 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total transaction 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 approximately $1,993,132.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Heather A. Humphrey sold 3,347 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were 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 owns 35,314 shares in the company, valued at $2,076,463.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,884 shares of company stock worth $941,810 in the last quarter. Company insiders own 3.26% of the company’s stock.

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.