Evergy (NASDAQ:EVRG) Hits New 12-Month High – Here’s Why

Evergy, Inc. (NASDAQ:EVRG)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $70.30 and last traded at $69.39, with a volume of 743547 shares traded. The stock had previously closed at $69.43.

Wall Street Analysts Forecast Growth

EVRG has been the subject of a number of research reports. UBS Group upped their price target on shares of Evergy from $66.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Barclays upped their target price on Evergy from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Guggenheim raised shares of Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, LADENBURG THALM/SH SH upgraded shares of Evergy to a “strong-buy” rating in a research note on Monday, March 17th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Evergy presently has an average rating of “Buy” and a consensus price target of $69.08.

Evergy Stock Down 0.3 %

The business’s fifty day moving average price is $66.61 and its two-hundred day moving average price is $63.50. 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 firm has a market cap of $15.92 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.82 and a beta of 0.62.

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

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were paid a dividend of $0.6675 per share. The ex-dividend date was Monday, March 10th. This represents a $2.67 annualized dividend and a dividend yield of 3.86%. Evergy’s dividend payout ratio is currently 70.45%.

Institutional Trading of Evergy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lee Danner & Bass Inc. acquired a new position in shares of Evergy during the 4th quarter worth approximately $26,000. National Pension Service bought a new stake in shares of Evergy during the fourth quarter worth about $30,000. Bank of Jackson Hole Trust acquired a new position in shares of Evergy in the fourth quarter valued at approximately $31,000. Colonial Trust Co SC acquired a new position in Evergy in the 4th quarter valued at approximately $32,000. Finally, Sandy Spring Bank increased its stake in shares of Evergy by 5,983.3% in the fourth quarter. Sandy Spring Bank now owns 730 shares of the company’s stock valued at $45,000 after buying an additional 718 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.