Evergy (NYSE:EVRG) Coverage Initiated by Analysts at Mizuho

Mizuho assumed coverage on shares of Evergy (NYSE:EVRG) in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $67.00 price objective on the stock.

EVRG has been the topic of several other reports. Jefferies Financial Group started coverage on shares of Evergy in a research report on Thursday, September 19th. They issued a “buy” rating and a $70.00 price target on the stock. Barclays lowered their price target on shares of Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. UBS Group upgraded shares of Evergy to a “hold” rating in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company increased their price target on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.88.

Evergy Stock Performance

Shares of EVRG stock opened at $59.58 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.35 and a debt-to-equity ratio of 1.23. Evergy has a 12 month low of $47.97 and a 12 month high of $62.58. The company has a market cap of $13.70 billion, a P/E ratio of 18.56, a PEG ratio of 2.67 and a beta of 0.62. The firm has a fifty day moving average price of $60.56 and a 200 day moving average price of $56.75.

Evergy (NYSE:EVRG) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Evergy had a net margin of 13.12% and a return on equity of 8.50%. During the same period in the prior year, the company posted $0.81 earnings per share. Sell-side analysts predict that Evergy will post 3.84 earnings per share for the current fiscal year.

Evergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.6425 per share. This represents a $2.57 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Tuesday, August 20th. Evergy’s dividend payout ratio is currently 80.06%.

Insiders Place Their Bets

In other Evergy news, SVP Charles A. Caisley sold 9,236 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Charles A. Caisley sold 9,236 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total value of $550,742.68. Following 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 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 firm’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 directly owns 35,314 shares in the company, valued at approximately $2,076,463.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,884 shares of company stock valued at $941,810 over the last quarter. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Evergy

Hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its stake in Evergy by 11.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,394 shares of the company’s stock worth $875,000 after buying an additional 1,649 shares during the period. Wasatch Advisors LP purchased a new stake in Evergy during the 1st quarter worth $3,393,000. SeaCrest Wealth Management LLC grew its holdings in Evergy by 6.7% during the 1st quarter. SeaCrest Wealth Management LLC now owns 16,943 shares of the company’s stock worth $904,000 after acquiring an additional 1,062 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in Evergy by 71.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 7,433 shares of the company’s stock worth $397,000 after acquiring an additional 3,092 shares in the last quarter. Finally, Uncommon Cents Investing LLC acquired a new position in Evergy during the 1st quarter worth $218,000. Hedge funds and other institutional investors own 87.24% 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.