Evergy (NYSE:EVRG) Sets New 1-Year High - Here's Why

Evergy, Inc. (NYSE:EVRG - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $63.27 and last traded at $63.26, with a volume of 185087 shares. The stock had previously closed at $62.51.

Analyst Ratings Changes

A number of research analysts have recently commented on EVRG shares. Mizuho assumed coverage on Evergy in a report on Tuesday, October 29th. They issued an "outperform" rating and a $67.00 price objective on the stock. Barclays decreased their price target on Evergy from $67.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Jefferies Financial Group initiated coverage on Evergy in a report on Thursday, September 19th. They issued a "buy" rating and a $70.00 price target for the company. UBS Group raised Evergy to a "hold" rating in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company boosted their price target on Evergy from $65.00 to $69.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Evergy presently has an average rating of "Moderate Buy" and an average price target of $61.88.

Evergy Price Performance

The company has a 50 day simple moving average of $60.87 and a 200-day simple moving average of $57.25. The stock has a market cap of $14.55 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.78 and a beta of 0.62. The company has a quick ratio of 0.35, a current ratio of 0.55 and a debt-to-equity ratio of 1.15.

Evergy (NYSE:EVRG - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.07. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter in the prior year, the firm posted $1.88 earnings per share. Evergy's revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts anticipate that Evergy, Inc. will post 3.84 EPS for the current fiscal year.

Evergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.6675 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.67 annualized dividend and a yield of 4.22%. This is a boost from Evergy's previous quarterly dividend of $0.64. Evergy's dividend payout ratio is presently 69.46%.

Insider Transactions at Evergy

In other news, Director Ann D. Murtlow sold 3,301 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $58.85, for a total transaction of $194,263.85. Following the sale, the director now directly owns 2,847 shares in the company, valued at approximately $167,545.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Evergy news, Director Ann D. Murtlow sold 3,301 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $58.85, for a total transaction of $194,263.85. Following the completion of the transaction, the director now directly owns 2,847 shares of the company's stock, valued at approximately $167,545.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Charles A. Caisley sold 9,236 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total value of $550,742.68. Following the transaction, the senior vice president now directly owns 33,425 shares of the company's stock, valued at approximately $1,993,132.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,884 shares of company stock worth $941,810. 0.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Evergy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC lifted its position in shares of Evergy by 6,854.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company's stock valued at $157,443,000 after acquiring an additional 2,502,493 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Evergy in the second quarter valued at $112,464,000. Zimmer Partners LP lifted its holdings in shares of Evergy by 781.4% in the first quarter. Zimmer Partners LP now owns 2,326,385 shares of the company's stock valued at $124,182,000 after purchasing an additional 2,062,434 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of Evergy by 7,234.3% in the third quarter. Mizuho Securities USA LLC now owns 1,300,000 shares of the company's stock valued at $80,613,000 after purchasing an additional 1,282,275 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Evergy by 38.6% in the second quarter. Millennium Management LLC now owns 3,683,000 shares of the company's stock valued at $195,089,000 after purchasing an additional 1,026,374 shares in the last quarter. 87.24% of the stock is owned by institutional investors.

Evergy Company Profile

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.