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

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

Other research analysts have also recently issued research reports about the stock. Barclays decreased their target price on shares of Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Jefferies Financial Group initiated coverage on shares of Evergy in a research report on Thursday, September 19th. They issued a “buy” rating and a $70.00 target price for the company. Wells Fargo & Company upped their target price on shares of Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, UBS Group raised shares of Evergy to a “hold” rating in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Evergy presently has an average rating of “Moderate Buy” and an average price target of $61.88.

Evergy Trading Down 1.4 %

NYSE EVRG opened at $59.58 on Tuesday. Evergy has a one year low of $47.97 and a one year high of $62.58. The company has a 50-day simple moving average of $60.56 and a 200-day simple moving average of $56.75. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.35 and a current ratio of 0.59. The firm has a market capitalization of $13.70 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 2.67 and a beta of 0.62.

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

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, August 20th were paid a dividend of $0.6425 per share. This represents a $2.57 annualized dividend and a yield of 4.31%. The ex-dividend date was Tuesday, August 20th. Evergy’s dividend payout ratio is presently 80.06%.

Insider Activity at Evergy

In related 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 completion of the sale, the senior vice president now directly owns 33,425 shares of the company’s stock, valued at $1,993,132.75. This represents 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 the SEC website. In related news, SVP Heather A. Humphrey sold 3,347 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $58.80, for a total value of $196,803.60. Following the completion of the sale, the senior vice president now owns 35,314 shares in the company, valued at approximately $2,076,463.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Charles A. Caisley sold 9,236 shares of the company’s 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 15,884 shares of company stock valued at $941,810 over the last ninety days. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Evergy

Hedge funds have recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new position in Evergy in the 2nd quarter valued at approximately $112,464,000. Wedge Capital Management L L P NC increased its stake in Evergy by 8.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 260,331 shares of the company’s stock valued at $13,790,000 after buying an additional 19,193 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Evergy by 11.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 316,455 shares of the company’s stock valued at $16,892,000 after buying an additional 31,985 shares during the period. Jennison Associates LLC acquired a new position in shares of Evergy during the 1st quarter worth $37,526,000. Finally, Entropy Technologies LP increased its stake in shares of Evergy by 129.2% during the 1st quarter. Entropy Technologies LP now owns 36,838 shares of the company’s stock worth $1,966,000 after purchasing an additional 20,764 shares during the last quarter. 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.