Evergy Inc. $EVRG Shares Acquired by EP Wealth Advisors LLC

Key Points

• EP Wealth Advisors LLC increased its holdings in Evergy Inc. by 115.8% during the first quarter, acquiring 4,128 additional shares worth $531,000.
• Evergy's recent quarterly earnings report showed an EPS of $0.82, surpassing estimates, although revenue decreased by 0.7% year-over-year.
• The company declared a quarterly dividend of $0.6675 per share, representing a 3.7% yield, with a payout ratio of 73.35%.

EP Wealth Advisors LLC boosted its stake in Evergy Inc. (NASDAQ:EVRG - Free Report) by 115.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,694 shares of the company's stock after acquiring an additional 4,128 shares during the quarter. EP Wealth Advisors LLC's holdings in Evergy were worth $531,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. GW Henssler & Associates Ltd. boosted its holdings in Evergy by 4.7% in the 1st quarter. GW Henssler & Associates Ltd. now owns 379,354 shares of the company's stock worth $26,156,000 after acquiring an additional 17,035 shares during the period. Focus Partners Advisor Solutions LLC boosted its holdings in Evergy by 86.4% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 8,345 shares of the company's stock worth $575,000 after acquiring an additional 3,867 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Evergy in the 1st quarter worth approximately $5,898,000. Energy Income Partners LLC boosted its holdings in Evergy by 4.6% in the 1st quarter. Energy Income Partners LLC now owns 804,155 shares of the company's stock worth $55,446,000 after acquiring an additional 35,614 shares during the period. Finally, Decade Renewable Partners LP purchased a new position in Evergy in the 1st quarter worth approximately $5,433,000. Hedge funds and other institutional investors own 87.24% of the company's stock.

Evergy Stock Up 0.3%

Shares of Evergy stock traded up $0.22 on Friday, hitting $72.52. 1,206,827 shares of the company's stock traded hands, compared to its average volume of 1,912,977. The stock has a market cap of $16.69 billion, a P/E ratio of 19.92, a PEG ratio of 3.16 and a beta of 0.58. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24. The firm's 50-day moving average is $70.94 and its 200 day moving average is $68.55. Evergy Inc. has a 52-week low of $59.00 and a 52-week high of $73.97.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $1.43 billion for 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%.The business's revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Equities analysts anticipate that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wall Street Zen cut Evergy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Citigroup increased 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. Barclays reduced 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. 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. Finally, Mizuho increased 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. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $74.44.

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.