Aberdeen Group plc Increases Stock Holdings in Evergy Inc. $EVRG

Key Points

• Aberdeen Group plc has increased its stake in Evergy Inc. by 35.5% in the first quarter, owning a total of 46,720 shares valued at approximately $3.2 million.
• A number of institutional investors have also entered positions in Evergy, leading to a total institutional ownership of 87.24% in the company.
• Evergy recently reported earnings that exceeded analyst expectations, showing a net margin of 14.29% but a slight decline in revenue compared to the previous year, with a forecasted EPS for FY 2025 of 3.920-4.120.

Aberdeen Group plc increased its holdings in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 35.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,720 shares of the company's stock after buying an additional 12,230 shares during the period. Aberdeen Group plc's holdings in Evergy were worth $3,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bfsg LLC purchased a new position in shares of Evergy during the 1st quarter valued at approximately $25,000. Alpine Bank Wealth Management purchased a new position in shares of Evergy during the 1st quarter valued at approximately $32,000. LRI Investments LLC purchased a new position in shares of Evergy during the 1st quarter valued at approximately $32,000. Clearstead Trust LLC purchased a new position in shares of Evergy during the 1st quarter valued at approximately $32,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Evergy during the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 87.24% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EVRG. BMO Capital Markets initiated coverage on Evergy in a research report on Tuesday, May 13th. They set an "outperform" rating and a $75.00 target price on the stock. Wall Street Zen lowered Evergy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. LADENBURG THALM/SH SH upgraded Evergy to a "strong-buy" rating in a report on Thursday, May 8th. Jefferies Financial Group set a $78.00 price objective on Evergy and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Mizuho raised their price objective on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $74.44.

Evergy Stock Up 0.1%

Shares of EVRG opened at $72.60 on Thursday. Evergy Inc. has a 52-week low of $57.82 and a 52-week high of $73.97. The company has a market capitalization of $16.71 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 3.17 and a beta of 0.48. The stock has a fifty day simple moving average of $69.79 and a two-hundred day simple moving average of $67.94. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the company earned $0.90 EPS. The company's revenue for the quarter was down .7% on a year-over-year basis. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. As a group, equities analysts forecast that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.7%. Evergy's dividend payout ratio (DPR) is 73.35%.

Evergy 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.

Want to see what other hedge funds are holding EVRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Evergy Inc. (NASDAQ:EVRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.