Seaport Res Ptn Has Weak Outlook for Evergy FY2027 Earnings

Evergy, Inc. (NASDAQ:EVRG) – Investment analysts at Seaport Res Ptn lowered their FY2027 earnings per share (EPS) estimates for shares of Evergy in a research report issued to clients and investors on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski now anticipates that the company will post earnings per share of $4.43 for the year, down from their previous 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.

EVRG has been the subject of several other reports. LADENBURG THALM/SH SH upgraded Evergy from a “neutral” rating to a “buy” rating and raised their target price for the company from $59.00 to $68.50 in a research note on Thursday, January 2nd. UBS Group upgraded Evergy to a “hold” rating in a research note on Wednesday, September 18th. Mizuho assumed coverage on Evergy in a report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 price objective on the stock. Wells Fargo & Company increased their target price on 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 shares of Evergy in a research report on Thursday, September 19th. They set a “buy” rating and a $70.00 price target for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.06.

Evergy Stock Performance

Evergy stock opened at $60.54 on Wednesday. Evergy has a 12-month low of $48.04 and a 12-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. The company has a market capitalization of $13.92 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. The firm’s fifty day moving average price is $62.35 and its 200 day moving average price is $59.79.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm posted $1.88 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis.

Institutional Investors Weigh In On Evergy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pathway Financial Advisers LLC boosted its stake in Evergy by 6,854.6% in the third 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 period. Mizuho Securities USA LLC boosted its position in Evergy by 7,234.3% during the 3rd 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 during the period. FMR LLC grew its stake in Evergy by 131.4% during the 3rd quarter. FMR LLC now owns 2,004,414 shares of the company’s stock worth $124,294,000 after buying an additional 1,138,138 shares during the last quarter. Millennium Management LLC grew its stake in Evergy by 38.6% during the 2nd quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock worth $195,089,000 after buying an additional 1,026,374 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Evergy by 147.8% in the second quarter. AQR Capital Management LLC now owns 1,193,382 shares of the company’s stock worth $63,213,000 after buying an additional 711,785 shares during the period. Institutional investors and hedge funds own 87.24% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Kevin E. Bryant sold 48,141 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $62.93, for a total value of $3,029,513.13. Following the transaction, the executive vice president now directly owns 1 shares in the company, valued at approximately $62.93. This trade represents a 100.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Evergy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, November 21st were paid a dividend of $0.6675 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 annualized dividend and a yield of 4.41%. Evergy’s dividend payout ratio (DPR) is 72.16%.

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.