Evergy, Inc. Announces Quarterly Dividend of $0.67 (NASDAQ:EVRG)

Evergy, Inc. (NASDAQ:EVRG) announced a quarterly dividend on Wednesday, February 19th, RTT News reports. Investors of record on Monday, March 10th will be paid a dividend of 0.6675 per share on Friday, March 21st. This represents a $2.67 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Monday, March 10th.

Evergy has raised its dividend by an average of 6.0% annually over the last three years. Evergy has a payout ratio of 62.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Evergy to earn $4.03 per share next year, which means the company should continue to be able to cover its $2.67 annual dividend with an expected future payout ratio of 66.3%.

Evergy Price Performance

Shares of NASDAQ:EVRG opened at $65.80 on Friday. The business has a 50 day moving average price of $64.47 and a 200 day moving average price of $62.43. Evergy has a twelve month low of $49.55 and a twelve month high of $69.93. The company has a market cap of $15.13 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 2.82 and a beta of 0.62. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.11). Evergy had a return on equity of 8.77% and a net margin of 14.77%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.24 billion. Research analysts predict that Evergy will post 3.83 earnings per share for the current year.

Hedge Funds Weigh In On Evergy

A hedge fund recently bought a new stake in Evergy stock. Brighton Jones LLC bought a new position in shares of Evergy, Inc. (NASDAQ:EVRG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,170 shares of the company’s stock, valued at approximately $257,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on EVRG. LADENBURG THALM/SH SH upgraded Evergy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $59.00 to $68.50 in a research report on Thursday, January 2nd. Guggenheim upgraded Evergy from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Barclays raised their price objective on Evergy from $62.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Evergy presently has an average rating of “Moderate Buy” and a consensus price target of $66.79.

About Evergy

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.