Dakota Wealth Management Purchases Shares of 36,749 Evergy Inc. $EVRG

Key Points

• Dakota Wealth Management has acquired 36,749 shares of Evergy Inc., valued at approximately $2,533,000, indicating institutional interest in the company.
• Evergy recently reported a quarterly earnings per share of $0.82, beating expectations, while facing a 0.7% decrease in revenue compared to the same quarter last year.
• The company has declared a quarterly dividend of $0.6675 per share, yielding 3.6% annually, reflecting a dividend payout ratio of 73.35%.

Dakota Wealth Management acquired a new position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 36,749 shares of the company's stock, valued at approximately $2,533,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EVRG. Amundi increased its holdings in Evergy by 14.2% during the 1st quarter. Amundi now owns 140,301 shares of the company's stock worth $9,710,000 after purchasing an additional 17,477 shares during the period. Northern Trust Corp boosted its stake in shares of Evergy by 16.7% in the 1st quarter. Northern Trust Corp now owns 2,737,480 shares of the company's stock valued at $188,749,000 after buying an additional 392,361 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Evergy during the first quarter worth about $267,000. Integrity Alliance LLC. purchased a new stake in shares of Evergy during the first quarter worth approximately $319,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Evergy in the fourth quarter valued at approximately $1,728,000. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Jefferies Financial Group set a $78.00 price target on shares of Evergy and gave the stock a "buy" rating in a report on Tuesday, June 10th. Barclays dropped their target price on Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Finally, Mizuho raised their price target on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. One 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, the company has an average rating of "Buy" and an average target price of $74.44.

Insider Buying and Selling

In other Evergy news, SVP Lesley Lissette Elwell sold 8,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was 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 owned 499 shares in the company, valued at approximately $36,092.67. The trade was a 94.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.42% of the stock is currently owned by company insiders.

Evergy Trading Down 0.3%

NASDAQ EVRG opened at $73.51 on Friday. 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 firm's fifty day moving average price is $71.63 and its 200 day moving average price is $68.86. The company has a market capitalization of $16.92 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 3.22 and a beta of 0.58. Evergy Inc. has a 12 month low of $59.00 and a 12 month high of $74.57.

Evergy (NASDAQ:EVRG - Get Free Report) last announced 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. The firm had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.45 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. Evergy's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 earnings per share. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. On average, 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 declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, August 22nd. Evergy's dividend payout ratio (DPR) is currently 73.35%.

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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