Envestnet Portfolio Solutions Inc. Purchases 123,323 Shares of Evergy Inc. $EVRG

Key Points

• Envestnet Portfolio Solutions Inc. significantly increased its stake in Evergy Inc. by purchasing 123,323 shares, marking a 3,162.9% growth and bringing its total holdings to 127,222 shares valued at $8.77 million.
• In the latest analyst ratings, Mizuho raised their price target for Evergy from $74.00 to $77.00 and maintained an "outperform" rating, contributing to a consensus rating of "Buy" among analysts.
• Evergy reported $0.82 earnings per share for the last quarter, exceeding expectations, and the company is now guiding for an EPS range of 3.920-4.120 for FY 2025.

Envestnet Portfolio Solutions Inc. grew its stake in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 3,162.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,222 shares of the company's stock after buying an additional 123,323 shares during the period. Envestnet Portfolio Solutions Inc. owned 0.06% of Evergy worth $8,769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Horizon Investments LLC increased its position in shares of Evergy by 4.9% during the first quarter. Horizon Investments LLC now owns 3,353 shares of the company's stock valued at $231,000 after buying an additional 158 shares during the period. Rogco LP increased its position in shares of Evergy by 16.4% during the second quarter. Rogco LP now owns 1,120 shares of the company's stock valued at $77,000 after buying an additional 158 shares during the period. Triad Wealth Partners LLC increased its position in shares of Evergy by 3.8% during the second quarter. Triad Wealth Partners LLC now owns 4,389 shares of the company's stock valued at $303,000 after buying an additional 159 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of Evergy by 4.4% during 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 during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Evergy by 6.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 3,905 shares of the company's stock valued at $269,000 after buying an additional 221 shares during the period. 87.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EVRG has been the topic of several analyst reports. Mizuho upped their price target on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Barclays reissued an "outperform" rating on shares of Evergy in a report on Thursday, October 9th. Weiss Ratings reissued a "buy (b-)" rating on shares of Evergy in a report on Wednesday, October 8th. Finally, Jefferies Financial Group boosted their price objective on Evergy from $77.00 to $87.00 and gave the stock a "buy" rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $76.94.

Evergy Stock Up 0.8%

Shares of NASDAQ EVRG opened at $78.09 on Wednesday. The firm has a market capitalization of $17.97 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 3.59 and a beta of 0.57. The business has a 50-day moving average of $73.30 and a 200-day moving average of $69.73. 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 Inc. has a 12 month low of $59.23 and a 12 month high of $78.56.

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 the consensus estimate of $0.78 by $0.04. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.Evergy's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 earnings per share. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Sell-side analysts expect that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 22nd were paid a $0.6675 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.67 annualized dividend and a yield of 3.4%. Evergy's dividend payout ratio is currently 73.35%.

Insider Transactions at Evergy

In other Evergy news, SVP Lesley Lissette Elwell sold 8,000 shares of the company'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 of the company's stock, valued at $36,092.67. This represents a 94.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.42% of the stock is currently owned by corporate insiders.

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.

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