Evergy Inc. $EVRG Shares Bought by Truist Financial Corp

Key Points

• Truist Financial Corp significantly increased its holdings in Evergy Inc. by 2,959.7%, owning over 534,000 shares valued at approximately $36.8 million as of its latest SEC filing.
• Multiple institutional investors have also adjusted their positions in Evergy, with notable increases from Nuveen LLC and Northern Trust Corp, making institutional investors own 87.24% of the company's stock.
• Evergy recently declared a quarterly dividend of $0.6675 per share, which translates to an annualized dividend of $2.67, providing a yield of 3.5%.

Truist Financial Corp lifted its position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 2,959.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 534,558 shares of the company's stock after purchasing an additional 517,087 shares during the quarter. Truist Financial Corp owned 0.23% of Evergy worth $36,847,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EVRG. Nuveen LLC acquired a new stake in Evergy during the first quarter valued at $212,132,000. Northern Trust Corp grew its stake in Evergy by 16.7% in the 1st quarter. Northern Trust Corp now owns 2,737,480 shares of the company's stock valued at $188,749,000 after acquiring an additional 392,361 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Evergy by 0.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,174,047 shares of the company's stock worth $149,901,000 after purchasing an additional 13,555 shares during the last quarter. Jennison Associates LLC boosted its holdings in Evergy by 11.2% in the 1st quarter. Jennison Associates LLC now owns 1,730,849 shares of the company's stock worth $119,342,000 after buying an additional 174,269 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Evergy by 27.7% during the 1st quarter. AQR Capital Management LLC now owns 1,482,508 shares of the company's stock worth $101,715,000 after buying an additional 321,406 shares in the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Jefferies Financial Group set a $78.00 target price on Evergy and gave the company a "buy" rating in a research report on Tuesday, June 10th. Mizuho upped their target price on shares of Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. Based on data from MarketBeat, Evergy has an average rating of "Buy" and a consensus target price of $74.44.

Evergy Stock Performance

NASDAQ:EVRG opened at $76.09 on Friday. The company's 50-day moving average is $72.24 and its two-hundred day moving average is $69.16. The firm has a market capitalization of $17.51 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 3.33 and a beta of 0.57. 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 Inc. has a 1-year low of $59.00 and a 1-year high of $76.46.

Evergy (NASDAQ:EVRG - Get Free Report) last posted 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. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The company's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Analysts forecast that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were given a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.5%. Evergy's dividend payout ratio (DPR) is presently 73.35%.

Insiders Place Their Bets

In other Evergy news, SVP Lesley Lissette Elwell sold 8,000 shares of the business'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 sale, the senior vice president owned 499 shares of the company's stock, valued at $36,092.67. The trade was a 94.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.42% of the company's stock.

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.

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