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

Evergy (NYSE:EVRG) posted its quarterly earnings results on Thursday. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.07, Briefing.com reports. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Evergy had a net margin of 13.12% and a return on equity of 8.50%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.88 earnings per share.

Evergy Stock Up 1.8 %

EVRG stock opened at $62.51 on Friday. 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. The firm has a fifty day moving average price of $60.78 and a two-hundred day moving average price of $57.14. The firm has a market cap of $14.37 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 2.72 and a beta of 0.62.

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 paid a dividend of $0.6675 per share. This is a positive change from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.67 annualized dividend and a yield of 4.27%. Evergy’s payout ratio is presently 72.16%.

Insider Buying and Selling at Evergy

In other Evergy news, SVP Charles A. Caisley sold 9,236 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Charles A. Caisley sold 9,236 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 in the company, valued at approximately $1,993,132.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann D. Murtlow sold 3,301 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $58.85, for a total transaction of $194,263.85. Following the transaction, the director now owns 2,847 shares of the company’s stock, valued at $167,545.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,884 shares of company stock worth $941,810 over the last 90 days. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EVRG. Jefferies Financial Group began coverage on shares of Evergy in a report on Thursday, September 19th. They issued a “buy” rating and a $70.00 price target on the stock. UBS Group raised shares of Evergy to a “hold” rating in a report on Wednesday, September 18th. Mizuho began coverage on shares of Evergy in a report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Barclays cut their price target on shares of Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $61.88.

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.