Evergy (NYSE:EVRG) Reaches New 12-Month High – Should You Buy?

Evergy, Inc. (NYSE:EVRG) shares hit a new 52-week high during trading on Monday . The company traded as high as $64.14 and last traded at $63.94, with a volume of 69521 shares trading hands. The stock had previously closed at $63.76.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Mizuho assumed coverage on Evergy in a report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 target price on the stock. UBS Group raised Evergy to a “hold” rating in a research note on Wednesday, September 18th. Barclays reduced their target price on Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Jefferies Financial Group initiated coverage on shares of Evergy in a research note on Thursday, September 19th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Evergy has an average rating of “Moderate Buy” and a consensus price target of $61.88.

Evergy Stock Down 0.3 %

The stock has a market cap of $14.62 billion, a P/E ratio of 17.23, a PEG ratio of 2.84 and a beta of 0.62. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. The firm’s 50-day moving average is $61.14 and its two-hundred day moving average is $57.55.

Evergy (NYSE:EVRG) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.07. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.88 earnings per share. On average, equities research analysts anticipate that Evergy, Inc. will post 3.84 earnings per share for the current year.

Evergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.6675 per share. This is a boost from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.67 annualized dividend and a dividend yield of 4.20%. Evergy’s payout ratio is currently 69.46%.

Insider Activity at Evergy

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the transaction, the executive vice president now owns 1 shares in the company, valued at approximately $62.93. This trade represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Charles A. Caisley sold 9,236 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total value 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 approximately $1,993,132.75. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,724 shares of company stock worth $3,777,059 over the last ninety days. Company insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Evergy

Several hedge funds have recently bought and sold shares of the company. Fairscale Capital LLC bought a new position in Evergy in the second quarter valued at approximately $27,000. Truvestments Capital LLC bought a new stake in Evergy in the 3rd quarter valued at $32,000. Hexagon Capital Partners LLC boosted its stake in Evergy by 47.1% in the 3rd quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock worth $33,000 after purchasing an additional 170 shares during the period. Rothschild Investment LLC bought a new position in Evergy during the 2nd quarter worth about $37,000. Finally, Hantz Financial Services Inc. bought a new position in Evergy during the 2nd quarter worth about $41,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

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.