Decade Renewable Partners LP Acquires New Holdings in Evergy Inc. $EVRG

Key Points

• Decade Renewable Partners LP has acquired 78,800 shares of Evergy Inc. for approximately $5.43 million, making it the 11th largest holding in their portfolio.
• Evergy reported a quarterly earnings per share (EPS) of $0.82, exceeding analyst expectations of $0.78, despite a 0.7% year-over-year decline in revenue.
• The company announced a quarterly dividend of $0.6675 per share, yielding about 3.7%, with a payout ratio of 73.35%.

Decade Renewable Partners LP acquired a new position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 78,800 shares of the company's stock, valued at approximately $5,433,000. Evergy makes up approximately 4.2% of Decade Renewable Partners LP's portfolio, making the stock its 11th biggest holding.

Several other hedge funds have also recently bought and sold shares of the stock. Horizon Investments LLC raised its stake in Evergy by 4.9% during the first quarter. Horizon Investments LLC now owns 3,353 shares of the company's stock worth $231,000 after acquiring an additional 158 shares in the last quarter. Stolper Co increased its stake in shares of Evergy by 0.5% in the first quarter. Stolper Co now owns 34,630 shares of the company's stock valued at $2,388,000 after buying an additional 169 shares in the last quarter. Retirement Planning Group LLC increased its stake in shares of Evergy by 0.9% in the fourth quarter. Retirement Planning Group LLC now owns 24,372 shares of the company's stock valued at $1,500,000 after buying an additional 210 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Evergy by 4.4% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,944 shares of the company's stock valued at $341,000 after buying an additional 210 shares in the last quarter. Finally, MainStreet Investment Advisors LLC increased its stake in shares of Evergy by 4.7% in the fourth quarter. MainStreet Investment Advisors LLC now owns 4,877 shares of the company's stock valued at $300,000 after buying an additional 221 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Trading Up 0.2%

EVRG traded up $0.12 during midday trading on Wednesday, reaching $71.39. 2,821,486 shares of the company were exchanged, compared to its average volume of 2,144,711. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50. Evergy Inc. has a one year low of $59.00 and a one year high of $73.97. The stock has a market capitalization of $16.43 billion, a P/E ratio of 19.61, a PEG ratio of 3.11 and a beta of 0.58. The stock's 50-day simple moving average is $70.60 and its 200 day simple moving average is $68.36.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter last year, the business earned $0.90 earnings per share. The company's 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, analysts forecast that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.6675 per share. 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%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Citigroup raised their target price on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Jefferies Financial Group set a $78.00 target price on Evergy and gave the company a "buy" rating in a research note on Tuesday, June 10th. Barclays lowered their target price on Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Mizuho raised their target price on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Wall Street Zen lowered Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to MarketBeat.com, Evergy has an average rating of "Buy" and a consensus price target of $74.44.

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.