Energy Income Partners LLC Grows Position in Evergy Inc. $EVRG

Key Points

• Energy Income Partners LLC increased its stake in Evergy Inc. by 4.6%, owning over 804,155 shares valued at approximately $55.4 million as of the latest SEC disclosure.
• Evergy reported an EPS of $0.82 for the most recent quarter, surpassing analysts' expectations, while its revenue dipped 0.7% year-over-year.
• The company declared a quarterly dividend of $0.6675, yielding 3.7%, with a payout ratio of 73.35%.

Energy Income Partners LLC raised its stake in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 4.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 804,155 shares of the company's stock after buying an additional 35,614 shares during the quarter. Energy Income Partners LLC owned about 0.35% of Evergy worth $55,446,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bfsg LLC purchased a new position in Evergy during the 1st quarter valued at about $25,000. Colonial Trust Co SC bought a new stake in shares of Evergy during the 4th quarter valued at about $32,000. Alpine Bank Wealth Management bought a new stake in shares of Evergy during the 1st quarter valued at about $32,000. Olde Wealth Management LLC bought a new stake in shares of Evergy during the 1st quarter valued at about $32,000. Finally, LRI Investments LLC bought a new stake in Evergy in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 87.24% of the company's stock.

Evergy Stock Up 0.3%

EVRG stock traded up $0.19 during midday trading on Thursday, hitting $71.58. The stock had a trading volume of 3,700,320 shares, compared to its average volume of 2,322,101. The firm has a market cap of $16.47 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 3.11 and a beta of 0.58. The business has a 50-day moving average of $70.60 and a two-hundred day moving average of $68.36. Evergy Inc. has a 52-week low of $59.00 and a 52-week high of $73.97. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.50 and a quick ratio of 0.27.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The company had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. The firm's revenue for the quarter was down .7% on a year-over-year basis. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. As a group, equities research analysts forecast 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 will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be issued a $0.6675 dividend. The ex-dividend date of this dividend 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 is currently 73.35%.

Analyst Ratings Changes

EVRG has been the subject of a number of recent research reports. LADENBURG THALM/SH SH upgraded Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Mizuho boosted their target price on Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Wall Street Zen downgraded Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Citigroup lifted their price target on Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Finally, BMO Capital Markets initiated coverage on Evergy in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $74.44.

Evergy Company 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.