Evergy, Inc. (NYSE:EVRG) Forecasted to Earn FY2024 Earnings of $3.85 Per Share

Evergy, Inc. (NYSE:EVRG) – Equities research analysts at Zacks Research raised their FY2024 earnings per share estimates for shares of Evergy in a research note issued on Monday, August 26th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $3.85 for the year, up from their prior forecast of $3.84. The consensus estimate for Evergy’s current full-year earnings is $3.84 per share. Zacks Research also issued estimates for Evergy’s Q4 2024 earnings at $0.41 EPS, Q1 2025 earnings at $0.70 EPS, Q2 2025 earnings at $0.98 EPS, Q3 2025 earnings at $2.02 EPS, Q4 2025 earnings at $0.34 EPS, Q1 2026 earnings at $0.71 EPS and Q2 2026 earnings at $1.00 EPS.

Evergy (NYSE:EVRG) last announced its earnings results on Friday, August 9th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.32 billion. Evergy had a return on equity of 8.32% and a net margin of 12.84%. During the same period in the prior year, the company posted $0.81 EPS.

Several other brokerages have also recently weighed in on EVRG. Wells Fargo & Company boosted their target price on Evergy from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Barclays boosted their target price on shares of Evergy from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.33.

Evergy Price Performance

Shares of Evergy stock opened at $59.27 on Tuesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.57 and a quick ratio of 0.32. Evergy has a 12 month low of $46.92 and a 12 month high of $61.14. The stock has a market capitalization of $13.63 billion, a P/E ratio of 19.18, a PEG ratio of 3.11 and a beta of 0.60. The business has a 50 day simple moving average of $55.92 and a two-hundred day simple moving average of $53.57.

Evergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.6425 per share. This represents a $2.57 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, August 20th. Evergy’s dividend payout ratio (DPR) is 83.17%.

Insider Activity at Evergy

In other Evergy news, Director Ann D. Murtlow sold 3,301 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were 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 $167,545.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

Institutional Trading of Evergy

Large investors have recently modified their holdings of the stock. Manning & Napier Advisors LLC purchased a new stake in shares of Evergy during the second quarter worth approximately $112,464,000. OLD Republic International Corp raised its holdings in shares of Evergy by 31.7% in the 4th quarter. OLD Republic International Corp now owns 830,246 shares of the company’s stock valued at $43,339,000 after purchasing an additional 200,000 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Evergy by 8.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 260,331 shares of the company’s stock worth $13,790,000 after purchasing an additional 19,193 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Evergy by 11.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 316,455 shares of the company’s stock worth $16,892,000 after purchasing an additional 31,985 shares in the last quarter. Finally, APG Asset Management US Inc. acquired a new stake in Evergy in the fourth quarter valued at $2,057,000. 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.