Evergy, Inc. (EVRG) to Issue Quarterly Dividend of $0.67 on March 21st

Evergy, Inc. (NASDAQ:EVRG) declared a quarterly dividend on Wednesday, February 19th, RTT News reports. Investors of record on Monday, March 10th will be given a dividend of 0.6675 per share on Friday, March 21st. This represents a $2.67 annualized dividend and a yield of 4.06%. The ex-dividend date is Monday, March 10th.

Evergy has raised its dividend by an average of 6.0% annually over the last three years. Evergy has a payout ratio of 62.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Evergy to earn $4.03 per share next year, which means the company should continue to be able to cover its $2.67 annual dividend with an expected future payout ratio of 66.3%.

Evergy Stock Up 0.1 %

NASDAQ:EVRG opened at $65.80 on Friday. The firm has a market capitalization of $15.13 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 2.82 and a beta of 0.62. Evergy has a 1-year low of $49.55 and a 1-year high of $69.93. 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 business’s fifty day moving average price is $64.47 and its 200 day moving average price is $62.43.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. LADENBURG THALM/SH SH raised Evergy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $59.00 to $68.50 in a research report on Thursday, January 2nd. Guggenheim raised Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Barclays upped their target price on Evergy from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.79.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Evergy stock. Brighton Jones LLC bought a new stake in shares of Evergy, Inc. (NASDAQ:EVRG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,170 shares of the company’s stock, valued at approximately $257,000. 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.