Evergy (NASDAQ:EVRG) Upgraded by LADENBURG THALM/SH SH to “Strong-Buy” Rating

LADENBURG THALM/SH SH upgraded shares of Evergy (NASDAQ:EVRG) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

Several other analysts have also weighed in on EVRG. Barclays boosted their target price on shares of Evergy from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Guggenheim upgraded shares of Evergy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Evergy presently has an average rating of “Buy” and an average price target of $68.42.

Evergy Stock Down 0.8 %

Shares of NASDAQ:EVRG opened at $67.10 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.32 and a debt-to-equity ratio of 1.15. The company has a fifty day simple moving average of $65.30 and a 200 day simple moving average of $62.93. The firm has a market cap of $15.43 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 2.82 and a beta of 0.62. Evergy has a 12-month low of $49.55 and a 12-month high of $69.93.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.11). The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.24 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. On average, equities research analysts anticipate that Evergy will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be given a dividend of $0.6675 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.67 annualized dividend and a dividend yield of 3.98%. Evergy’s dividend payout ratio is currently 70.45%.

Hedge Funds Weigh In On Evergy

Several institutional investors have recently modified their holdings of EVRG. CIBC Asset Management Inc grew its position in shares of Evergy by 7.1% during the third quarter. CIBC Asset Management Inc now owns 39,139 shares of the company’s stock worth $2,427,000 after acquiring an additional 2,581 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Evergy during the third quarter worth about $226,000. Natixis Advisors LLC grew its position in shares of Evergy by 1.1% during the third quarter. Natixis Advisors LLC now owns 85,855 shares of the company’s stock worth $5,324,000 after acquiring an additional 939 shares during the last quarter. Swiss National Bank grew its position in shares of Evergy by 0.3% during the third quarter. Swiss National Bank now owns 682,426 shares of the company’s stock worth $42,317,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Meeder Advisory Services Inc. lifted its holdings in Evergy by 28.9% in the third quarter. Meeder Advisory Services Inc. now owns 11,029 shares of the company’s stock worth $684,000 after purchasing an additional 2,473 shares during the period. 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.