Evergy (NASDAQ:EVRG) Price Target Raised to $89.00

Evergy (NASDAQ:EVRG) had its target price increased by Citigroup from $79.00 to $89.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently weighed in on the company. Wells Fargo & Company raised Evergy to a “hold” rating in a report on Tuesday, October 28th. Mizuho lifted their price target on Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Evergy in a report on Wednesday, October 8th. Royal Bank Of Canada upgraded shares of Evergy to a “moderate buy” rating in a report on Tuesday, October 28th. Finally, Wall Street Zen raised shares of Evergy from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $80.72.

Evergy Trading Up 0.5%

EVRG opened at $77.34 on Monday. The company has a market cap of $17.80 billion, a P/E ratio of 21.25, a PEG ratio of 3.56 and a beta of 0.61. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $75.52 and its 200-day moving average is $71.25. Evergy has a 1-year low of $59.67 and a 1-year high of $79.32.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Thursday, November 6th. The company reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.24 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.Evergy’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.02 earnings per share. Evergy has set its FY 2025 guidance at 3.920-4.020 EPS. Equities research analysts predict that Evergy will post 3.83 earnings per share for the current fiscal year.

Evergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 21st will be given a dividend of $0.695 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.78 dividend on an annualized basis and a yield of 3.6%. This is a boost from Evergy’s previous quarterly dividend of $0.67. Evergy’s payout ratio is currently 76.16%.

Insider Transactions at Evergy

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $72.33, for a total value of $578,640.00. Following the transaction, the senior vice president owned 499 shares in the company, valued at approximately $36,092.67. The trade was a 94.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.42% of the company’s stock.

Hedge Funds Weigh In On Evergy

A number of hedge funds have recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in Evergy during the 4th quarter worth about $257,000. Cerity Partners LLC boosted its position in shares of Evergy by 338.3% during the 1st quarter. Cerity Partners LLC now owns 241,642 shares of the company’s stock valued at $16,661,000 after purchasing an additional 186,515 shares in the last quarter. Xponance Inc. grew its stake in Evergy by 1.4% during the first quarter. Xponance Inc. now owns 31,496 shares of the company’s stock worth $2,172,000 after purchasing an additional 436 shares during the period. Ballentine Partners LLC bought a new stake in Evergy in the first quarter worth approximately $254,000. Finally, Stephens Inc. AR acquired a new position in Evergy in the first quarter valued at approximately $260,000. Institutional investors own 87.24% of the company’s stock.

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.