Cbre Investment Management Listed Real Assets LLC Decreases Stock Holdings in Evergy Inc. $EVRG

Key Points

• Cbre Investment Management Listed Real Assets LLC reduced its holdings in Evergy Inc. by 30.0%, selling 362,542 shares to hold 845,286 shares at a value of $58,282,000.
• Evergy reported a Q2 earnings per share (EPS) of $0.82, exceeding estimates of $0.78, despite a 0.7% decrease in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.6675 per share, representing an annualized dividend yield of 3.7% with a payout ratio of 73.35%.

Cbre Investment Management Listed Real Assets LLC trimmed its stake in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 30.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 845,286 shares of the company's stock after selling 362,542 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned approximately 0.37% of Evergy worth $58,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Bfsg LLC bought a new position in Evergy during the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management bought a new position in Evergy during the 1st quarter worth approximately $32,000. LRI Investments LLC purchased a new stake in Evergy in the 1st quarter worth approximately $32,000. Clearstead Trust LLC purchased a new stake in Evergy in the 1st quarter worth approximately $32,000. Finally, Olde Wealth Management LLC purchased a new stake in Evergy in the 1st quarter worth approximately $32,000. 87.24% of the stock is currently owned by institutional investors.

Evergy Trading Up 0.4%

EVRG stock traded up $0.30 during midday trading on Wednesday, reaching $72.06. 1,751,243 shares of the company traded hands, compared to its average volume of 2,331,812. Evergy Inc. has a 52-week low of $58.25 and a 52-week high of $73.97. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50. The business has a 50 day moving average of $70.16 and a 200-day moving average of $68.16. The firm has a market capitalization of $16.58 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 3.13 and a beta of 0.48.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The company'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, sell-side analysts expect that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be paid a $0.6675 dividend. The ex-dividend date 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 (DPR) is 73.35%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EVRG shares. Citigroup increased their price objective on Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a report on Friday, May 16th. LADENBURG THALM/SH SH raised Evergy to a "strong-buy" rating in a report on Thursday, May 8th. Wall Street Zen lowered Evergy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. BMO Capital Markets started coverage on Evergy in a report on Tuesday, May 13th. They set an "outperform" rating and a $75.00 price target for the company. Finally, Barclays lowered their price objective on Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. Based on data from MarketBeat.com, Evergy has an average rating of "Buy" and an average target price of $74.44.

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.