Evergy (NYSE:EVRG) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Evergy (NYSE:EVRGGet Rating) released its quarterly earnings results on Thursday. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02, Briefing.com reports. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.23 billion. Evergy had a return on equity of 8.93% and a net margin of 15.59%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS.

Evergy Price Performance

Shares of EVRG stock traded down $0.41 on Friday, hitting $67.83. 669,127 shares of the company’s stock were exchanged, compared to its average volume of 1,351,464. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.51 and a quick ratio of 0.33. Evergy has a 12 month low of $59.34 and a 12 month high of $73.13. The stock has a market cap of $15.57 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 3.79 and a beta of 0.49. The company has a 50 day moving average of $65.59 and a 200 day moving average of $66.01.

Evergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Friday, August 19th will be given a dividend of $0.5725 per share. The ex-dividend date is Thursday, August 18th. This represents a $2.29 annualized dividend and a dividend yield of 3.38%. Evergy’s dividend payout ratio is currently 65.06%.

Insider Buying and Selling

In related news, Director Sandra Aj Lawrence sold 500 shares of the company’s stock in a transaction on Monday, May 23rd. The stock was 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 directly owns 2,180 shares in the company, valued at approximately $148,719.60. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 1,657 shares of company stock worth $112,987 in the last ninety days. 0.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Evergy

A number of institutional investors and hedge funds have recently bought and sold shares of EVRG. Sawtooth Solutions LLC acquired a new stake in shares of Evergy in the first quarter valued at about $259,000. Toroso Investments LLC acquired a new stake in shares of Evergy in the first quarter valued at about $205,000. Capital International Sarl acquired a new stake in shares of Evergy in the first quarter valued at about $1,461,000. Capital Group International Inc. CA acquired a new stake in shares of Evergy in the first quarter valued at about $317,000. Finally, Coann Capital LLC acquired a new stake in shares of Evergy in the first quarter valued at about $10,028,000. Institutional investors and hedge funds own 87.39% of the company’s stock.

Wall Street Analysts Forecast Growth

EVRG has been the subject of several recent research reports. Credit Suisse Group initiated coverage on Evergy in a research note on Monday, April 25th. They issued an “outperform” rating and a $76.00 price target for the company. UBS Group downgraded Evergy from a “buy” rating to a “neutral” rating and cut their target price for the company from $78.00 to $70.00 in a research report on Thursday, June 30th. Finally, Wells Fargo & Company upped their target price on Evergy from $67.00 to $75.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Evergy currently has a consensus rating of “Hold” and an average target price of $71.33.

Evergy Company Profile

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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.

See Also

Earnings History for Evergy (NYSE:EVRG)

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