Adage Capital Partners GP L.L.C. Reduces Stock Position in Evergy Inc. $EVRG

Key Points

• Adage Capital Partners reduced its holdings in Evergy Inc. by 2.3% during the first quarter, owning 209,882 shares estimated at $14.47 million after selling 5,000 shares.
• A notable increase in investment activity saw GAMMA Investing LLC raising its position by 8,154.8% during the same quarter, now holding 973,574 shares valued at approximately $67.13 million.
• Evergy recently declared a quarterly dividend of $0.6675 per share, reflecting an annualized amount of $2.67 and a yield of 3.7%, with an upcoming payment date set for September 19th.

Adage Capital Partners GP L.L.C. lowered its holdings in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 209,882 shares of the company's stock after selling 5,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.09% of Evergy worth $14,471,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of EVRG. Nuveen LLC purchased a new position in Evergy during the 1st quarter valued at $212,132,000. GAMMA Investing LLC raised its position in Evergy by 8,154.8% during the 1st quarter. GAMMA Investing LLC now owns 973,574 shares of the company's stock valued at $67,128,000 after purchasing an additional 961,780 shares in the last quarter. Maple Brown Abbott Ltd bought a new stake in Evergy during the 1st quarter valued at $63,444,000. Vaughan Nelson Investment Management L.P. bought a new stake in Evergy during the 1st quarter valued at $40,285,000. Finally, Northern Trust Corp raised its position in Evergy by 16.7% during the 1st quarter. Northern Trust Corp now owns 2,737,480 shares of the company's stock valued at $188,749,000 after purchasing an additional 392,361 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company's stock.

Analysts Set New Price Targets

EVRG has been the subject of a number of research analyst reports. Wall Street Zen lowered Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Citigroup lifted their target price on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Mizuho lifted their target price on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Barclays decreased their target price on Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Finally, Jefferies Financial Group set a $78.00 price target on Evergy and gave the stock a "buy" rating in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to data from MarketBeat, Evergy has a consensus rating of "Buy" and a consensus price target of $74.44.

Evergy Trading Up 0.0%

EVRG opened at $71.60 on Friday. The firm has a market cap of $16.48 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 3.13 and a beta of 0.58. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. Evergy Inc. has a 12 month low of $59.00 and a 12 month high of $73.97. The stock has a fifty day moving average price of $70.73 and a 200-day moving average price of $68.42.

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

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be given a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, August 22nd. Evergy's dividend payout ratio is currently 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.

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