Evergy, Inc. (EVRG) To Go Ex-Dividend on November 21st

Evergy, Inc. (NYSE:EVRG) declared a quarterly dividend on Tuesday, November 5th,Wall Street Journal reports. Shareholders of record on Thursday, November 21st will be given a dividend of 0.6675 per share on Friday, December 20th. This represents a $2.67 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Thursday, November 21st. This is a boost from Evergy’s previous quarterly dividend of $0.64.

Evergy has raised its dividend by an average of 6.6% annually over the last three years and has increased its dividend annually for the last 20 consecutive years. Evergy has a payout ratio of 66.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Evergy to earn $4.04 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 66.1%.

Evergy Stock Up 0.2 %

Shares of NYSE:EVRG opened at $63.87 on Tuesday. Evergy has a 1 year low of $48.04 and a 1 year high of $64.14. The business has a fifty day moving average price of $61.20 and a two-hundred day moving average price of $57.63. 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 company has a market capitalization of $14.69 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 2.84 and a beta of 0.62.

Evergy (NYSE:EVRG) last released 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. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 EPS. Analysts forecast that Evergy will post 3.84 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Kevin E. Bryant sold 48,141 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $62.93, for a total value of $3,029,513.13. Following the transaction, the executive vice president now owns 1 shares in the company, valued at $62.93. The trade was a 100.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Charles A. Caisley sold 9,236 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total transaction of $550,742.68. Following the sale, the senior vice president now owns 33,425 shares of the company’s stock, valued at approximately $1,993,132.75. This represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,724 shares of company stock valued at $3,777,059 in the last quarter. Insiders own 3.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on EVRG shares. Wells Fargo & Company upped their price target on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Mizuho assumed coverage on shares of Evergy in a research report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 price target on the stock. 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. Barclays reduced their price target on Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Finally, UBS Group upgraded Evergy to a “hold” rating in a research report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Evergy has a consensus rating of “Moderate Buy” and an average price target of $61.88.

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.