Evergy (NYSE:EVRG) Downgraded by Seaport Res Ptn

Seaport Res Ptn cut shares of Evergy (NYSE:EVRGGet Rating) from a buy rating to a neutral rating in a research report report published on Monday, PriceTargets.com reports. Seaport Res Ptn also issued estimates for Evergy’s FY2023 earnings at $3.63 EPS.

Several other brokerages have also issued reports on EVRG. Guggenheim reduced their target price on Evergy from $77.00 to $64.00 in a research report on Monday, October 24th. Wells Fargo & Company reduced their target price on Evergy from $72.00 to $63.00 and set an equal weight rating on the stock in a research report on Wednesday, October 19th. Credit Suisse Group cut their price objective on Evergy from $68.00 to $61.00 and set an outperform rating on the stock in a report on Wednesday, October 12th. UBS Group cut their price objective on Evergy to $65.00 in a report on Monday. Finally, Bank of America cut their price objective on Evergy from $74.00 to $68.00 in a report on Wednesday, September 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $63.17.

Evergy Trading Down 1.5 %

Shares of NYSE:EVRG opened at $58.33 on Monday. The business’s 50-day moving average is $60.33 and its 200 day moving average is $64.86. Evergy has a 1 year low of $54.12 and a 1 year high of $73.13. The firm has a market capitalization of $13.39 billion, a P/E ratio of 16.86, a P/E/G ratio of 3.15 and a beta of 0.53. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.52 and a quick ratio of 0.35.

Evergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 20th. Stockholders of record on Friday, November 18th will be paid a $0.6125 dividend. This is an increase from Evergy’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, November 17th. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.20%. Evergy’s dividend payout ratio is presently 70.81%.

Institutional Trading of Evergy

A number of hedge funds have recently modified their holdings of EVRG. Vanguard Group Inc. boosted its position in Evergy by 1.8% during the first quarter. Vanguard Group Inc. now owns 29,339,970 shares of the company’s stock worth $2,005,093,000 after purchasing an additional 509,404 shares in the last quarter. State Street Corp boosted its position in Evergy by 1.3% during the third quarter. State Street Corp now owns 14,645,186 shares of the company’s stock worth $869,924,000 after purchasing an additional 194,152 shares in the last quarter. Capital International Investors boosted its position in Evergy by 40.7% during the first quarter. Capital International Investors now owns 13,048,060 shares of the company’s stock worth $891,704,000 after purchasing an additional 3,777,012 shares in the last quarter. Franklin Resources Inc. boosted its position in Evergy by 6.3% during the second quarter. Franklin Resources Inc. now owns 4,368,058 shares of the company’s stock worth $285,015,000 after purchasing an additional 259,680 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in Evergy by 1.5% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,508,324 shares of the company’s stock worth $228,919,000 after purchasing an additional 53,476 shares in the last quarter. Hedge funds and other institutional investors own 84.37% of the company’s stock.

About Evergy

(Get Rating)

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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Analyst Recommendations for Evergy (NYSE:EVRG)

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