Alliancebernstein L.P. Has $28.65 Million Position in Evergy Inc. $EVRG

Key Points

• Alliancebernstein L.P. significantly increased its stake in Evergy Inc. by 35%, owning approximately 0.18% of the company valued at $28.65 million after acquiring an additional 107,665 shares.
• Evergy has seen varied ratings from analysts, with Citigroup raising its target price to $79 and classifying it as a "buy," while Wall Street Zen downgraded it to "sell."
• Evergy recently declared a quarterly dividend of $0.6675 per share, reflecting an annualized dividend of $2.67 and a yield of 3.8%.

Alliancebernstein L.P. grew its holdings in Evergy Inc. (NASDAQ:EVRG - Free Report) by 35.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 415,555 shares of the company's stock after acquiring an additional 107,665 shares during the period. Alliancebernstein L.P. owned 0.18% of Evergy worth $28,653,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Northern Trust Corp grew its position in Evergy by 16.7% in the first quarter. Northern Trust Corp now owns 2,737,480 shares of the company's stock worth $188,749,000 after acquiring an additional 392,361 shares in the last quarter. Amundi grew its position in Evergy by 14.2% in the first quarter. Amundi now owns 140,301 shares of the company's stock worth $9,710,000 after acquiring an additional 17,477 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Evergy in the first quarter worth $267,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Evergy in the fourth quarter worth $1,728,000. Finally, HighTower Advisors LLC lifted its stake in shares of Evergy by 26.6% in the first quarter. HighTower Advisors LLC now owns 124,115 shares of the company's stock worth $8,558,000 after buying an additional 26,086 shares during the last quarter. 87.24% of the stock is owned by institutional investors.

Evergy Trading Up 0.3%

Shares of NASDAQ EVRG traded up $0.22 during mid-day trading on Friday, hitting $72.52. The company's stock had a trading volume of 1,206,827 shares, compared to its average volume of 1,912,977. Evergy Inc. has a one year low of $59.00 and a one year high of $73.97. The company's fifty day simple moving average is $70.94 and its 200-day simple moving average is $68.55. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.50 and a quick ratio of 0.27. The stock has a market cap of $16.69 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 3.16 and a beta of 0.58.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.04. The firm had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.45 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The business's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 earnings per share. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. On average, sell-side analysts anticipate that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EVRG. Citigroup boosted their price objective on shares of Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Barclays reduced their price objective on shares of 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 price objective on shares of Evergy and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Wall Street Zen cut shares of Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Mizuho upped their target price on shares of Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price 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.