Credit Agricole S A Buys 4,927 Shares of Evergy Inc. $EVRG

Key Points

• Credit Agricole S A increased its stake in Evergy Inc. by 8.9%, acquiring an additional 4,927 shares, bringing its total holdings to 60,236 shares valued at approximately $4.15 million.
• Evergy recently reported earnings of $0.82 per share, surpassing analysts' expectations, despite a slight revenue decline of 0.7% year-over-year.
• The company announced a quarterly dividend of $0.6675 per share, which is set to yield 3.7% annually, with an ex-dividend date on August 22nd.

Credit Agricole S A grew its position in Evergy Inc. (NASDAQ:EVRG - Free Report) by 8.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,236 shares of the company's stock after purchasing an additional 4,927 shares during the quarter. Credit Agricole S A's holdings in Evergy were worth $4,153,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. 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. LADENBURG THALM/SH SH upgraded Evergy to a "strong-buy" rating in a report on Thursday, May 8th. BMO Capital Markets assumed coverage on shares of 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 cut shares of Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Citigroup lifted their price target on shares of Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat.com, Evergy has an average rating of "Buy" and an average price target of $74.44.

Evergy Stock Down 0.7%

EVRG stock traded down $0.53 during trading on Thursday, reaching $71.53. 360,957 shares of the stock were exchanged, compared to its average volume of 2,320,418. The firm's 50 day moving average is $70.26 and its 200 day moving average is $68.19. Evergy Inc. has a twelve month low of $58.25 and a twelve month high of $73.97. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The firm has a market cap of $16.46 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 3.14 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 EPS for the quarter, topping 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 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 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, research analysts forecast that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

The company 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 is Friday, August 22nd. This represents a $2.67 annualized dividend and a dividend yield of 3.7%. Evergy's payout ratio is presently 73.35%.

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.