Evergy, Inc. (NYSE:EVRG – Get Rating) declared a quarterly dividend on Thursday, August 4th, RTT News reports. Investors of record on Friday, August 19th will be paid a dividend of 0.5725 per share on Tuesday, September 20th. This represents a $2.29 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Thursday, August 18th.
Evergy has raised its dividend payment by an average of 32.6% per year over the last three years and has increased its dividend every year for the last 19 years. Evergy has a dividend payout ratio of 60.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Evergy to earn $3.76 per share next year, which means the company should continue to be able to cover its $2.29 annual dividend with an expected future payout ratio of 60.9%.
Evergy Stock Down 0.6 %
Shares of NYSE:EVRG opened at $67.83 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.33 and a debt-to-equity ratio of 0.99. Evergy has a 12 month low of $59.34 and a 12 month high of $73.13. The company has a 50-day moving average price of $65.59 and a 200 day moving average price of $66.01. The company has a market cap of $15.57 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 3.78 and a beta of 0.49.
In other news, Director Sandra Aj Lawrence sold 500 shares of Evergy stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $68.22, for a total transaction of $34,110.00. Following the completion of the sale, the director now owns 2,180 shares of the company’s stock, valued at $148,719.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 1,657 shares of company stock valued at $112,987. Corporate insiders own 0.47% of the company’s stock.
Hedge Funds Weigh In On Evergy
Institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. increased its holdings in Evergy by 3.5% during the first quarter. Advisors Asset Management Inc. now owns 7,753 shares of the company’s stock valued at $530,000 after buying an additional 265 shares during the period. Horizon Investments LLC grew its holdings in Evergy by 21.3% in the first quarter. Horizon Investments LLC now owns 6,488 shares of the company’s stock worth $443,000 after purchasing an additional 1,138 shares during the last quarter. Prudential PLC purchased a new position in Evergy in the first quarter worth $411,000. Cibc World Market Inc. grew its holdings in Evergy by 25.8% in the first quarter. Cibc World Market Inc. now owns 5,924 shares of the company’s stock worth $405,000 after purchasing an additional 1,214 shares during the last quarter. Finally, Dakota Wealth Management grew its holdings in Evergy by 84.3% in the first quarter. Dakota Wealth Management now owns 5,404 shares of the company’s stock worth $370,000 after purchasing an additional 2,472 shares during the last quarter. 87.39% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. UBS Group downgraded shares of Evergy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $78.00 to $70.00 in a research note on Thursday, June 30th. Wells Fargo & Company raised their price objective on shares of Evergy from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 19th. Finally, Credit Suisse Group initiated coverage on shares of Evergy in a research note on Monday, April 25th. They issued an “outperform” rating and a $76.00 price objective for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $71.33.
Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Kansas and Missouri, the United States. It generates electricity through coal, hydroelectric, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources.
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