Bayforest Capital Ltd Sells 3,877 Shares of Evergy Inc. $EVRG

Key Points

• Bayforest Capital Ltd significantly reduced its holdings in Evergy Inc. by 64.3%, selling 3,877 shares, which left them with 2,150 shares valued at $148,000.
• Evergy reported a quarterly earnings per share of $0.82, exceeding the consensus estimate of $0.78, while its revenue of $1.43 billion fell short of expectations.
• The company recently declared a quarterly dividend of $0.6675, providing a yield of 3.4%, with a payout ratio of 73.35%.

Bayforest Capital Ltd lowered its holdings in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 64.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,150 shares of the company's stock after selling 3,877 shares during the period. Bayforest Capital Ltd's holdings in Evergy were worth $148,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of EVRG. Brighton Jones LLC purchased a new position in Evergy in the fourth quarter worth about $257,000. GAMMA Investing LLC raised its holdings in Evergy by 19.7% in the first quarter. GAMMA Investing LLC now owns 14,120 shares of the company's stock worth $974,000 after buying an additional 2,326 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Evergy by 9.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,263 shares of the company's stock worth $2,500,000 after buying an additional 3,014 shares during the last quarter. Sowell Financial Services LLC purchased a new position in Evergy in the first quarter worth about $267,000. Finally, Bfsg LLC purchased a new position in Evergy in the first quarter worth about $25,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Stock Down 1.5%

EVRG opened at $77.50 on Friday. 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 1-year low of $59.23 and a 1-year high of $79.32. The company has a market capitalization of $17.84 billion, a PE ratio of 21.29, a PEG ratio of 3.64 and a beta of 0.57. The firm's 50 day simple moving average is $73.50 and its two-hundred day simple moving average is $69.85.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the firm earned $0.90 earnings per share. The company's quarterly revenue 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 firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 22nd were given a $0.6675 dividend. The ex-dividend date was Friday, August 22nd. This represents a $2.67 annualized dividend and a yield of 3.4%. Evergy's dividend payout ratio (DPR) is presently 73.35%.

Analysts Set New Price Targets

EVRG has been the subject of several recent analyst reports. Mizuho lifted their target price on shares of Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Barclays restated an "outperform" rating on shares of Evergy in a research report on Thursday, October 9th. Weiss Ratings restated a "buy (b-)" rating on shares of Evergy in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group increased their price objective on shares of Evergy from $77.00 to $87.00 and gave the company a "buy" rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $78.07.

Insider Activity

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $72.33, for a total value of $578,640.00. Following the completion of the sale, the senior vice president directly owned 499 shares of the company's stock, valued at $36,092.67. This represents a 94.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.42% of the stock is currently owned by company insiders.

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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