Evergy, Inc. (NASDAQ:EVRG) Announces $0.67 Quarterly Dividend

Evergy, Inc. (NASDAQ:EVRG) declared a quarterly dividend on Thursday, February 27th, RTT News reports. Shareholders of record on Monday, March 10th will be paid a dividend of 0.6675 per share on Friday, March 21st. This represents a $2.67 dividend on an annualized basis and a yield of 3.89%.

Evergy has increased its dividend payment by an average of 6.0% annually over the last three years. Evergy has a payout ratio of 62.7% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 0.8 %

NASDAQ EVRG opened at $68.56 on Friday. The business’s fifty day moving average is $63.85 and its 200-day moving average is $62.12. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. The stock has a market capitalization of $15.77 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 2.82 and a beta of 0.66. Evergy has a one year low of $48.60 and a one year high of $69.90.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.11). The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. Equities research analysts predict that Evergy will post 3.83 EPS for the current year.

Wall Street Analyst Weigh In

EVRG has been the topic of several research analyst reports. LADENBURG THALM/SH SH upgraded Evergy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $59.00 to $68.50 in a research note on Thursday, January 2nd. Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Barclays cut their price target on Evergy from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Evergy has an average rating of “Moderate Buy” and a consensus price target of $65.36.

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.