Cubist Systematic Strategies LLC Buys Shares of 85,547 Evergy Inc. $EVRG

Key Points

• Cubist Systematic Strategies LLC acquired 85,547 shares of Evergy Inc. (EVRG), valued at approximately $5.9 million, during the first quarter of 2023.
• Evergy reported $0.82 earnings per share (EPS) for the last quarter, surpassing analysts' estimates of $0.78, despite a year-over-year revenue decline of 0.7%.
• The company announced a quarterly dividend of $0.6675 per share, reflecting an annual yield of 3.7%, which will be paid on September 19th to investors of record on August 22nd.

Cubist Systematic Strategies LLC purchased a new position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 85,547 shares of the company's stock, valued at approximately $5,898,000.

A number of other large investors also recently modified their holdings of the business. Brighton Jones LLC acquired a new position in shares of Evergy in the fourth quarter valued at $257,000. AXA S.A. raised its position in Evergy by 166.6% in the 4th quarter. AXA S.A. now owns 96,443 shares of the company's stock valued at $5,936,000 after buying an additional 60,272 shares during the last quarter. Ameriprise Financial Inc. raised its position in Evergy by 5.1% in the 4th quarter. Ameriprise Financial Inc. now owns 295,489 shares of the company's stock valued at $18,166,000 after buying an additional 14,273 shares during the last quarter. Baird Financial Group Inc. raised its position in Evergy by 19.1% in the 4th quarter. Baird Financial Group Inc. now owns 42,157 shares of the company's stock valued at $2,595,000 after buying an additional 6,768 shares during the last quarter. Finally, BOKF NA raised its position in Evergy by 5.4% in the 4th quarter. BOKF NA now owns 24,616 shares of the company's stock valued at $1,474,000 after buying an additional 1,267 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Stock Performance

Evergy stock traded up $0.34 during trading on Tuesday, reaching $71.11. The company had a trading volume of 213,446 shares, compared to its average volume of 2,316,860. Evergy Inc. has a 52 week low of $59.00 and a 52 week high of $73.97. The firm's 50-day simple moving average is $70.77 and its 200 day simple moving average is $68.46. The firm has a market capitalization of $16.37 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth 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 (NASDAQ:EVRG - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company earned $0.90 EPS. The company's revenue for the quarter was down .7% on a year-over-year basis. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Sell-side analysts forecast that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The firm also recently disclosed 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 is Friday, August 22nd. This represents a $2.67 dividend on an annualized basis and a yield of 3.8%. Evergy's dividend payout ratio is presently 73.35%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays dropped their price target on Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a report on Friday, May 30th. BMO Capital Markets started coverage on Evergy in a report on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 target price for the company. Mizuho increased their price target on Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Wall Street Zen lowered Evergy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group set a $78.00 target price on Evergy and gave the stock a "buy" rating in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $74.44.

Evergy Company 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.