Amundi Increases Stake in Evergy Inc. $EVRG

Key Points

• Amundi increased its stake in Evergy Inc. by 14.2%, holding 140,301 shares valued at approximately $9.71 million by the end of the quarter.
• Evergy's quarterly earnings surpassed expectations, with $0.82 earnings per share reported, slightly above the consensus estimate of $0.78, despite revenue declining by 0.7% year-over-year.
• The company announced a quarterly dividend of $0.6675 per share, equating to a 3.8% yield, with payment scheduled for September 19th.

Amundi grew its stake in Evergy Inc. (NASDAQ:EVRG - Free Report) by 14.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 140,301 shares of the company's stock after acquiring an additional 17,477 shares during the quarter. Amundi owned about 0.06% of Evergy worth $9,710,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EVRG. Bfsg LLC acquired a new stake in shares of Evergy in the 1st quarter worth $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Evergy in the 1st quarter worth $32,000. Olde Wealth Management LLC acquired a new stake in shares of Evergy in the 1st quarter worth $32,000. LRI Investments LLC acquired a new stake in shares of Evergy in the 1st quarter worth $32,000. Finally, Clearstead Trust LLC acquired a new stake in shares of Evergy in the 1st quarter worth $32,000. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Trading Up 0.3%

Evergy stock traded up $0.22 during midday trading on Friday, reaching $72.52. 1,206,827 shares of the stock traded hands, compared to its average volume of 1,912,977. The company has a 50-day simple moving average of $70.94 and a two-hundred day simple moving average of $68.55. Evergy Inc. has a 12-month low of $59.00 and a 12-month high of $73.97. The firm has a market cap of $16.69 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 3.16 and a beta of 0.58. 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 (NASDAQ:EVRG - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.82 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.45 billion. During the same period last year, the business posted $0.90 EPS. Evergy'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. Research analysts expect that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed 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. This represents a $2.67 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, August 22nd. Evergy's dividend payout ratio (DPR) is presently 73.35%.

Analyst Ratings Changes

A number of analysts have issued reports on EVRG shares. Barclays cut 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. Citigroup raised their price objective on Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Wall Street Zen downgraded Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Jefferies Financial Group set a $78.00 price objective on Evergy and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Finally, Mizuho raised their price objective on Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research 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 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.