Evergy (NYSE:EVRG) Announces Earnings Results

Evergy (NYSE:EVRG) announced its quarterly earnings data on Friday. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01, RTT News reports. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.32 billion. Evergy had a net margin of 12.84% and a return on equity of 8.32%. During the same quarter in the prior year, the firm earned $0.81 EPS. Evergy updated its FY 2024 guidance to 3.730-3.930 EPS and its FY24 guidance to $3.73-3.93 EPS.

Evergy Price Performance

Evergy stock opened at $58.69 on Monday. Evergy has a 12-month low of $46.92 and a 12-month high of $61.14. The stock has a market capitalization of $13.49 billion, a P/E ratio of 18.99, a P/E/G ratio of 3.11 and a beta of 0.60. The firm’s 50-day moving average is $54.75 and its two-hundred day moving average is $52.91. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.57 and a quick ratio of 0.32.

Evergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, August 20th will be paid a $0.6425 dividend. This represents a $2.57 dividend on an annualized basis and a yield of 4.38%. Evergy’s payout ratio is 83.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Barclays upped their price target on shares of Evergy from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Wells Fargo & Company upped their price target on shares of Evergy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.83.

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.