Seaport Res Ptn Analysts Cut Earnings Estimates for Evergy

Evergy, Inc. (NASDAQ:EVRG) – Analysts at Seaport Res Ptn reduced their FY2027 earnings per share (EPS) estimates for Evergy in a report released on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now forecasts that the company will earn $4.43 per share for the year, down from their prior forecast of $4.50. The consensus estimate for Evergy’s current full-year earnings is $3.84 per share. Seaport Res Ptn also issued estimates for Evergy’s FY2028 earnings at $4.65 EPS.

EVRG has been the topic of several other research reports. Barclays lowered their target price on Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. UBS Group raised shares of Evergy to a “hold” rating in a research note on Wednesday, September 18th. Wells Fargo & Company lifted 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. 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 price target on the stock. Finally, Mizuho started coverage on Evergy in a research report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $64.06.

Evergy Stock Performance

EVRG opened at $60.54 on Wednesday. Evergy has a 1-year low of $48.04 and a 1-year high of $65.47. The stock has a market cap of $13.92 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.75 and a beta of 0.64. The stock’s 50 day simple moving average is $62.35 and its 200 day simple moving average is $59.79. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.88 EPS.

Institutional Investors Weigh In On Evergy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its holdings in shares of Evergy by 391.1% during the 3rd quarter. HighTower Advisors LLC now owns 97,186 shares of the company’s stock worth $6,030,000 after purchasing an additional 77,398 shares during the period. Envestnet Asset Management Inc. lifted its position in Evergy by 13.2% during the second quarter. Envestnet Asset Management Inc. now owns 307,797 shares of the company’s stock valued at $16,304,000 after buying an additional 35,940 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Evergy by 60.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 44,024 shares of the company’s stock worth $2,332,000 after buying an additional 16,619 shares during the period. BNP Paribas Financial Markets increased its position in shares of Evergy by 34.0% in the third quarter. BNP Paribas Financial Markets now owns 945,148 shares of the company’s stock worth $58,609,000 after acquiring an additional 239,599 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Evergy by 29.1% in the 3rd quarter. Bank of Montreal Can now owns 997,832 shares of the company’s stock valued at $61,806,000 after acquiring an additional 224,679 shares during the period. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Kevin E. Bryant sold 48,141 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total value of $3,029,513.13. Following the transaction, the executive vice president now directly owns 1 shares of the company’s stock, valued at approximately $62.93. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by insiders.

Evergy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, November 21st were given a dividend of $0.6675 per share. This is a positive change from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date was Thursday, November 21st. This represents a $2.67 annualized dividend and a yield of 4.41%. Evergy’s dividend payout ratio is 72.16%.

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.