Evergy (NASDAQ:EVRG) Posts Earnings Results, Beats Expectations By $0.07 EPS

Evergy (NASDAQ:EVRGGet Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07, FiscalAI reports. Evergy had a return on equity of 9.09% and a net margin of 14.63%.The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the business earned $0.82 EPS.

Evergy Trading Down 0.0%

NASDAQ EVRG traded down $0.02 on Thursday, hitting $83.04. 2,089,756 shares of the company were exchanged, compared to its average volume of 1,996,501. The company’s 50 day moving average price is $84.57 and its 200-day moving average price is $82.36. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.45 and a quick ratio of 0.24. The firm has a market capitalization of $19.14 billion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 2.15 and a beta of 0.54. Evergy has a twelve month low of $70.42 and a twelve month high of $88.62.

Evergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, August 18th will be paid a $0.695 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $2.78 dividend on an annualized basis and a yield of 3.3%. Evergy’s dividend payout ratio (DPR) is currently 73.74%.

Insider Activity

In other news, EVP Charles A. Caisley sold 10,787 shares of Evergy stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $83.46, for a total value of $900,283.02. Following the transaction, the executive vice president directly owned 37,789 shares of the company’s stock, valued at $3,153,869.94. This trade represents a 22.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sandra Aj Lawrence sold 761 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $83.31, for a total transaction of $63,398.91. Following the sale, the director owned 1,680 shares in the company, valued at $139,960.80. This represents a 31.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 12,748 shares of company stock valued at $1,061,870. Corporate insiders own 1.52% of the company’s stock.

Institutional Trading of Evergy

Hedge funds and other institutional investors have recently modified their holdings of the business. Hilltop Holdings Inc. lifted its stake in shares of Evergy by 1.6% in the 4th quarter. Hilltop Holdings Inc. now owns 8,990 shares of the company’s stock valued at $652,000 after purchasing an additional 142 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in Evergy by 0.3% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 46,972 shares of the company’s stock worth $3,571,000 after purchasing an additional 145 shares in the last quarter. Bank of Jackson Hole Trust raised its holdings in Evergy by 35.9% in the fourth quarter. Bank of Jackson Hole Trust now owns 677 shares of the company’s stock valued at $49,000 after buying an additional 179 shares during the period. IHT Wealth Management LLC raised its holdings in Evergy by 1.0% in the second quarter. IHT Wealth Management LLC now owns 20,528 shares of the company’s stock valued at $1,415,000 after buying an additional 212 shares during the period. Finally, Triumph Capital Management lifted its position in Evergy by 104.8% during the fourth quarter. Triumph Capital Management now owns 508 shares of the company’s stock valued at $37,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of Evergy from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Friday, July 24th. BTIG Research set a $97.00 price target on Evergy in a research report on Thursday, July 23rd. BMO Capital Markets boosted their price objective on Evergy from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. UBS Group increased their target price on Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Barclays upped their price target on shares of Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Evergy presently has a consensus rating of “Moderate Buy” and an average price target of $90.60.

View Our Latest Stock Analysis on EVRG

Evergy Company Profile

(Get Free Report)

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.

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Earnings History for Evergy (NASDAQ:EVRG)

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