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

Evergy, Inc. (NASDAQ:EVRG) declared a quarterly dividend on Thursday, February 27th, 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 dividend on an annualized basis and a yield of 3.87%.

Evergy has increased its dividend payment by an average of 6.0% annually over the last three years. Evergy has a payout ratio of 62.7% indicating that 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 Stock Performance

Shares of Evergy stock opened at $69.05 on Thursday. The business has a 50-day simple moving average of $63.69 and a 200 day simple moving average of $62.08. The firm has a market capitalization of $15.88 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 2.82 and a beta of 0.66. 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 has a one year low of $48.60 and a one year high of $69.58.

Evergy (NASDAQ:EVRG) last issued its earnings results on Thursday, February 27th. The company reported $0.35 earnings per share (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%. On average, research analysts anticipate that Evergy will post 3.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EVRG. Guggenheim upgraded shares of Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Barclays cut their price target on Evergy from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Finally, LADENBURG THALM/SH SH raised Evergy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $59.00 to $68.50 in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $65.36.

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.