Evergy (EVRG) Declares $0.61 Dividend

Evergy said on May 5, 2023 that its board of directors declared a regular quarterly dividend of $0.61 per share ($2.45 annualized). Previously, the company paid $0.61 per share.

Shares must be purchased before the ex-div date of May 18, 2023 to qualify for the dividend. Shareholders of record as of May 19, 2023 will receive the payment on June 20, 2023.

At the current share price of $62.59 / share, the stock's dividend yield is 3.91%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.44%, the lowest has been 2.81%, and the highest has been 4.50%. The standard deviation of yields is 0.35 (n=233).

The current dividend yield is 1.36 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.73. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.21%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 1383 funds or institutions reporting positions in Evergy. This is an increase of 41 owner(s) or 3.06% in the last quarter. Average portfolio weight of all funds dedicated to EVRG is 0.27%, an increase of 9.81%. Total shares owned by institutions decreased in the last three months by 6.21% to 226,917K shares. The put/call ratio of EVRG is 0.16, indicating a bullish outlook.

Analyst Price Forecast Suggests 5.93% Upside

As of April 24, 2023, the average one-year price target for Evergy is 66.30. The forecasts range from a low of 59.59 to a high of $75.60. The average price target represents an increase of 5.93% from its latest reported closing price of 62.59.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Evergy is 5,556MM, a decrease of 6.34%. The projected annual non-GAAP EPS is 3.74.

What are Other Shareholders Doing?

Capital International Investors holds 7,112K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 20,550K shares, representing a decrease of 188.93%. The firm decreased its portfolio allocation in EVRG by 66.26% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,974K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 6,825K shares, representing an increase of 2.14%. The firm decreased its portfolio allocation in EVRG by 0.02% over the last quarter.

VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 5,336K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 5,296K shares, representing an increase of 0.75%. The firm decreased its portfolio allocation in EVRG by 1.96% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 5,306K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 5,204K shares, representing an increase of 1.93%. The firm decreased its portfolio allocation in EVRG by 0.48% over the last quarter.

Invesco holds 5,176K shares representing 2.25% ownership of the company. In it's prior filing, the firm reported owning 4,961K shares, representing an increase of 4.16%. The firm increased its portfolio allocation in EVRG by 0.59% over the last quarter.

Evergy Background Information
(This description is provided by the company.)

Evergy, Inc. serves approximately 1.6 million customers in Kansas and Missouri. The company was formed in 2018 when long-term local energy providers KCP&L and Westar Energy merged. Evergy is a leader in renewable energy, supplying nearly half of the power the company provides to homes and businesses from emission-free generation. Evergy supports its local communities where the companuy lives and works and strives to meet the needs of customers through energy savings and innovative solutions.

This story originally appeared on Fintel.