Key Points
- Evergy Director Jonathan Rolph bought 1,640 shares at an average price of $81.47, representing a total investment of approximately $133,611. The transaction was disclosed in an SEC filing.
- Evergy reported quarterly earnings of $0.88 per share, beating analyst expectations of $0.81, while revenue reached $1.50 billion versus the $1.36 billion consensus estimate.
- The company pays a quarterly dividend of $0.695 per share, equivalent to an annualized $2.78 dividend and a 3.5% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $90.60.
Evergy Inc. (NASDAQ:EVRG - Get Free Report) Director Jonathan Rolph purchased 1,640 shares of the company's stock in a transaction that occurred on Friday, September 11th. The shares were purchased at an average cost of $81.47 per share, for a total transaction of $133,610.80. Following the completion of the transaction, the director owned 670 shares in the company, valued at approximately $54,584.90. This represents a -169.07% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Evergy Stock Performance
Shares of EVRG opened at $80.20 on Wednesday. The stock has a market capitalization of $18.49 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 2.10 and a beta of 0.53. The business's fifty day moving average price is $83.38 and its 200 day moving average price is $83.03. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.36 and a quick ratio of 0.21. Evergy Inc. has a 12-month low of $71.20 and a 12-month high of $88.62.
Evergy (NASDAQ:EVRG - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.07. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.36 billion. Evergy had a net margin of 15.19% and a return on equity of 9.20%. During the same quarter in the previous year, the firm earned $0.82 earnings per share. Equities research analysts forecast that Evergy Inc. will post 4.25 EPS for the current year.
Evergy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, August 18th will be paid a dividend of $0.695 per share. The ex-dividend date is Tuesday, August 18th. This represents a $2.78 annualized dividend and a yield of 3.5%. Evergy's dividend payout ratio is 70.56%.
Institutional Investors Weigh In On Evergy
Several large investors have recently made changes to their positions in EVRG. Rakuten Investment Management Inc. bought a new position in Evergy during the second quarter valued at about $3,279,000. Bank of Nova Scotia bought a new stake in Evergy in the second quarter worth about $3,569,000. Cullen Frost Bankers Inc. raised its position in Evergy by 4.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 316,511 shares of the company's stock worth $22,944,000 after acquiring an additional 14,907 shares in the last quarter. Greenland Capital Management LP bought a new stake in Evergy in the second quarter worth about $8,230,000. Finally, Vestcor Inc lifted its holdings in Evergy by 49.6% in the 4th quarter. Vestcor Inc now owns 174,330 shares of the company's stock valued at $12,637,000 after acquiring an additional 57,795 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the company. Weiss Ratings restated a "buy (b)" rating on shares of Evergy in a research note on Friday, August 7th. Barclays boosted their price objective on Evergy from $89.00 to $94.00 and gave the company an "overweight" rating in a research report on Tuesday, June 30th. Citigroup upped their price objective on Evergy from $95.00 to $97.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. BTIG Research set a $97.00 target price on Evergy in a research report on Thursday, July 23rd. Finally, BMO Capital Markets raised their target price on Evergy from $88.00 to $92.00 and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Evergy currently has an average rating of "Moderate Buy" and an average price target of $90.60.
View Our Latest Analysis on EVRG
About Evergy
(
Get Free Report)
Evergy, Inc is an investor-owned electric utility that generates, transmits, distributes and sells electricity to residential, commercial, industrial and other customers. The company operates regulated utilities and provides electric service through its Kansas and Missouri subsidiaries.
Evergy serves customers across much of Kansas and in western Missouri, including the Kansas City metropolitan area. Its generation portfolio includes a mix of renewable and conventional resources, such as wind, solar, natural gas and coal, as well as an ownership interest in the Wolf Creek nuclear generating station in Kansas.
The company was formed in 2018 through the merger of Great Plains Energy Incorporated and Westar Energy, Inc Evergy is headquartered in Topeka, Kansas, with significant operations in the Kansas City region.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
