Allstate Corp Buys 12,889 Shares of Evergy Inc. $EVRG

Key Points

• Allstate Corp significantly increased its stake in Evergy Inc., growing its holdings by 163.1% in Q1 to a total of 20,791 shares, valued at approximately $1.43 million.
• Evergy recently reported earnings of $0.82 per share, surpassing expectations, although revenue fell short of forecasts at $1.43 billion.
• The company declared a quarterly dividend of $0.6675, representing an annual yield of 3.7%, and is scheduled for payment on September 19th.

Allstate Corp boosted its holdings in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 163.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,791 shares of the company's stock after purchasing an additional 12,889 shares during the period. Allstate Corp's holdings in Evergy were worth $1,434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EVRG. Bfsg LLC acquired a new stake in Evergy during the first quarter valued at approximately $25,000. Colonial Trust Co SC acquired a new stake in shares of Evergy during the fourth quarter valued at approximately $32,000. Alpine Bank Wealth Management acquired a new stake in shares of Evergy during the first quarter valued at approximately $32,000. Olde Wealth Management LLC acquired a new stake in shares of Evergy during the first quarter valued at approximately $32,000. Finally, LRI Investments LLC acquired a new stake in shares of Evergy during the first quarter valued at approximately $32,000. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Stock Performance

Shares of NASDAQ EVRG traded up $0.11 during trading hours on Tuesday, hitting $71.76. 2,951,163 shares of the stock were exchanged, compared to its average volume of 2,368,196. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.50 and a quick ratio of 0.27. The company's 50 day moving average is $70.16 and its 200 day moving average is $68.16. The firm has a market capitalization of $16.52 billion, a P/E ratio of 19.71, a P/E/G ratio of 3.13 and a beta of 0.48. Evergy Inc. has a one year low of $58.25 and a one year high of $73.97.

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

Evergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be issued 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 yield of 3.7%. Evergy's dividend payout ratio is 73.35%.

Wall Street Analyst Weigh In

EVRG has been the topic of a number of recent analyst reports. Mizuho boosted their price target on shares of Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a report on Friday, August 8th. LADENBURG THALM/SH SH upgraded shares of Evergy to a "strong-buy" rating in a report on Thursday, May 8th. Jefferies Financial Group set a $78.00 target price on shares of Evergy and gave the stock a "buy" rating in a research report on Tuesday, June 10th. UBS Group upgraded shares of Evergy from a "neutral" rating to a "buy" rating and increased their target price for the stock from $68.00 to $78.00 in a research report on Monday, April 28th. Finally, Wall Street Zen downgraded shares of Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat, Evergy presently has a consensus rating of "Buy" and an average target price of $74.44.

About Evergy

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.