Evergy (NYSE:EVRG) Issues Quarterly Earnings Results

Evergy (NYSE:EVRG) announced its earnings results on Thursday. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.07, Briefing.com reports. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Evergy had a net margin of 13.12% and a return on equity of 8.50%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.88 EPS.

Evergy Stock Performance

Shares of NYSE EVRG traded up $1.10 during trading on Friday, reaching $62.51. 2,698,304 shares of the company traded hands, compared to its average volume of 2,065,826. The stock has a market cap of $14.37 billion, a P/E ratio of 19.42, a PEG ratio of 2.66 and a beta of 0.62. The firm’s fifty day simple moving average is $60.71 and its 200 day simple moving average is $57.03. The company has a current ratio of 0.59, a quick ratio of 0.35 and a debt-to-equity ratio of 1.23. Evergy has a 12-month low of $47.97 and a 12-month high of $62.58.

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 issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Thursday, November 21st. This is a boost from Evergy’s previous quarterly dividend of $0.64. Evergy’s dividend payout ratio (DPR) is 80.06%.

Insider Buying and Selling

In other Evergy news, SVP Charles A. Caisley sold 9,236 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total value of $550,742.68. Following the sale, the senior vice president now owns 33,425 shares in the company, valued at approximately $1,993,132.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Charles A. Caisley sold 9,236 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total transaction of $550,742.68. Following the transaction, the senior vice president now owns 33,425 shares in the company, valued at $1,993,132.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Heather A. Humphrey sold 3,347 shares of the company’s 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 owns 35,314 shares of the company’s stock, valued at approximately $2,076,463.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,884 shares of company stock valued at $941,810 over the last ninety days. Company insiders own 3.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.