Evergy Inc. $EVRG Shares Sold by DRW Securities LLC

Key Points

• DRW Securities LLC has significantly reduced its stake in Evergy Inc. by 55.1%, now holding 32,260 shares valued at approximately $2.22 million.
• Evergy reported $0.82 EPS in its recent earnings call, surpassing estimates, yet experienced a 0.7% decline in quarterly revenue year-over-year.
• The company has declared a quarterly dividend of $0.6675, with an annual yield of 3.7%, set to be paid on September 19th.

DRW Securities LLC lowered its position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 55.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,260 shares of the company's stock after selling 39,640 shares during the quarter. DRW Securities LLC's holdings in Evergy were worth $2,224,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Bfsg LLC purchased a new position in shares of Evergy during the 1st quarter valued at $25,000. Alpine Bank Wealth Management bought a new stake in Evergy during the first quarter valued at about $32,000. LRI Investments LLC purchased a new position in shares of Evergy in the first quarter valued at about $32,000. Clearstead Trust LLC purchased a new position in shares of Evergy in the first quarter valued at about $32,000. Finally, Olde Wealth Management LLC bought a new position in shares of Evergy in the first quarter worth about $32,000. 87.24% of the stock is currently owned by institutional investors.

Evergy Stock Up 0.2%

NASDAQ:EVRG traded up $0.12 during trading hours on Wednesday, reaching $71.39. The company's stock had a trading volume of 2,821,486 shares, compared to its average volume of 2,144,711. Evergy Inc. has a 12 month low of $59.00 and a 12 month high of $73.97. The company has a market capitalization of $16.43 billion, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 3.11 and a beta of 0.58. 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 stock has a 50 day moving average price of $70.54 and a two-hundred day moving average price of $68.34.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its quarterly 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. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The business's quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 earnings per share. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Equities analysts predict that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be paid a $0.6675 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.67 annualized dividend and a dividend yield of 3.7%. Evergy's dividend payout ratio is 73.35%.

Analysts Set New Price Targets

Several brokerages recently issued reports on EVRG. Barclays decreased their target price on Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. LADENBURG THALM/SH SH upgraded shares of Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Citigroup lifted their price objective on shares of Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Jefferies Financial Group set a $78.00 price objective on shares of Evergy and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, Mizuho lifted their target price on Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price 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.