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

Evergy, Inc. (NYSE:EVRG)’s stock price hit a new 52-week high on Monday . The company traded as high as $63.27 and last traded at $63.26, with a volume of 185087 shares. The stock had previously closed at $62.51.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Mizuho started coverage on shares of Evergy in a report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of Evergy in a research note on Thursday, September 19th. They set a “buy” rating and a $70.00 price target for the company. Barclays lowered their price target on shares of 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 Evergy to a “hold” rating in a report on Wednesday, September 18th. Finally, Wells Fargo & Company boosted their target price on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Evergy presently has an average rating of “Moderate Buy” and a consensus target price of $61.88.

Evergy Price Performance

The firm has a market cap of $14.65 billion, a P/E ratio of 16.89, a PEG ratio of 2.78 and a beta of 0.62. The business’s fifty day simple moving average is $60.78 and its 200-day simple moving average is $57.17. The company has a current ratio of 0.55, a quick ratio of 0.35 and a debt-to-equity ratio of 1.15.

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

Evergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, November 21st will be given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.19%. This is a boost from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, November 21st. Evergy’s payout ratio is presently 69.46%.

Insider Activity

In related news, Director Ann D. Murtlow sold 3,301 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total value of $194,263.85. Following the sale, the director now directly owns 2,847 shares of the company’s stock, valued at $167,545.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Heather A. Humphrey sold 3,347 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $58.80, for a total transaction of $196,803.60. Following the transaction, the senior vice president now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann D. Murtlow sold 3,301 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $58.85, for a total value of $194,263.85. Following the completion of the sale, the director now owns 2,847 shares of the company’s stock, valued at $167,545.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,884 shares of company stock worth $941,810. 0.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Evergy

A number of institutional investors have recently made changes to their positions in EVRG. Fairscale Capital LLC bought a new position in shares of Evergy during the second quarter valued at about $27,000. Hexagon Capital Partners LLC lifted its position in Evergy by 47.1% in the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after purchasing an additional 170 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Evergy in the second quarter worth approximately $37,000. Hantz Financial Services Inc. purchased a new position in shares of Evergy in the second quarter worth $41,000. Finally, Sentry Investment Management LLC bought a new stake in Evergy during the 3rd quarter valued at $51,000. 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.