Seaport Res Ptn Brokers Lower Earnings Estimates for Evergy

Evergy, Inc. (NASDAQ:EVRG - Free Report) - Stock analysts at Seaport Res Ptn lowered their FY2027 EPS estimates for shares of Evergy in a report issued on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now forecasts that the company will post earnings per share of $4.43 for the year, down from their prior estimate of $4.50. The consensus estimate for Evergy's current full-year earnings is $3.84 per share. Seaport Res Ptn also issued estimates for Evergy's FY2028 earnings at $4.65 EPS.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.07. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.88 earnings per share.

EVRG has been the topic of a number of other research reports. LADENBURG THALM/SH SH upgraded Evergy from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $59.00 to $68.50 in a research report on Thursday, January 2nd. UBS Group raised Evergy to a "hold" rating in a research note on Wednesday, September 18th. Mizuho began coverage on shares of Evergy in a research report on Tuesday, October 29th. They set an "outperform" rating and a $67.00 price objective on the stock. Wells Fargo & Company boosted their price target on shares of Evergy from $65.00 to $69.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group assumed coverage on Evergy in a research note on Thursday, September 19th. They issued a "buy" rating and a $70.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $64.06.

Evergy Price Performance

NASDAQ:EVRG traded up $0.37 during trading hours on Wednesday, hitting $60.91. The company's stock had a trading volume of 3,043,975 shares, compared to its average volume of 1,702,275. The stock has a fifty day simple moving average of $62.37 and a 200-day simple moving average of $59.80. The company has a market capitalization of $14.01 billion, a P/E ratio of 16.46, a PEG ratio of 2.75 and a beta of 0.64. Evergy has a twelve month low of $48.04 and a twelve month high of $65.47. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32.

Evergy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 4.38%. This is a positive change from Evergy's previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Thursday, November 21st. Evergy's dividend payout ratio is 72.16%.

Insider Buying and Selling

In other news, EVP Kevin E. Bryant sold 48,141 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the sale, the executive vice president now directly owns 1 shares in the company, valued at $62.93. This represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by insiders.

Institutional Trading of Evergy

Several institutional investors and hedge funds have recently modified their holdings of EVRG. TD Asset Management Inc increased its position in shares of Evergy by 3.4% during the 2nd quarter. TD Asset Management Inc now owns 83,909 shares of the company's stock valued at $4,445,000 after purchasing an additional 2,770 shares during the last quarter. Caprock Group LLC raised its holdings in Evergy by 16.6% in the second quarter. Caprock Group LLC now owns 11,122 shares of the company's stock worth $589,000 after purchasing an additional 1,580 shares in the last quarter. PFG Investments LLC lifted its position in Evergy by 25.8% during the 2nd quarter. PFG Investments LLC now owns 4,766 shares of the company's stock valued at $252,000 after acquiring an additional 978 shares during the period. Choreo LLC purchased a new stake in shares of Evergy in the 2nd quarter worth approximately $458,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Evergy by 9.1% during the second quarter. Daiwa Securities Group Inc. now owns 25,018 shares of the company's stock valued at $1,325,000 after acquiring an additional 2,084 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company's stock.

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.