Evergy Inc. $EVRG Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Evergy stake by 8,326.1% in the second quarter, acquiring 22.8 million additional shares and bringing its ownership to 10.02%, valued at approximately $2.0 billion.
• Evergy reported quarterly EPS of $0.88, exceeding the $0.81 consensus estimate, while revenue reached $1.50 billion versus expectations of $1.36 billion.
• The company declared a quarterly dividend of $0.695 per share, equivalent to a 3.4% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $90.60.

California State Teachers Retirement System lifted its stake in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 8,326.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,101,615 shares of the company's stock after acquiring an additional 22,827,447 shares during the period. California State Teachers Retirement System owned 10.02% of Evergy worth $1,996,673,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC boosted its holdings in Evergy by 0.8% in the 1st quarter. Kestra Advisory Services LLC now owns 15,829 shares of the company's stock worth $1,297,000 after acquiring an additional 124 shares during the period. Trilogy Capital Inc. raised its stake in Evergy by 0.3% during the second quarter. Trilogy Capital Inc. now owns 47,210 shares of the company's stock worth $4,080,000 after acquiring an additional 125 shares during the period. Retirement Planning Group LLC lifted its holdings in shares of Evergy by 0.6% in the 1st quarter. Retirement Planning Group LLC now owns 23,659 shares of the company's stock worth $1,938,000 after purchasing an additional 137 shares during the last quarter. Earned Wealth Advisors LLC lifted its stake in Evergy by 4.9% in the first quarter. Earned Wealth Advisors LLC now owns 2,946 shares of the company's stock valued at $241,000 after buying an additional 137 shares during the last quarter. Finally, Optiver Holding B.V. boosted its stake in Evergy by 14.5% during the 1st quarter. Optiver Holding B.V. now owns 1,107 shares of the company's stock valued at $91,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 87.24% of the company's stock.

Evergy Price Performance

Shares of NASDAQ:EVRG opened at $81.62 on Friday. Evergy Inc. has a twelve month low of $71.20 and a twelve month high of $88.62. The business has a 50 day moving average price of $83.63 and a 200 day moving average price of $83.05. The company has a market cap of $18.82 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 2.11 and a beta of 0.53. The company has a quick ratio of 0.21, a current ratio of 0.36 and a debt-to-equity ratio of 1.20.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.81 by $0.07. Evergy had a return on equity of 9.20% and a net margin of 15.19%.The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the prior year, the firm posted $0.82 EPS. Research analysts predict that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, August 18th. Evergy's dividend payout ratio is presently 70.56%.

Insiders Place Their Bets

In other Evergy news, EVP Charles Caisley sold 10,787 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $83.46, for a total value of $900,283.02. Following the completion of the transaction, the executive vice president directly owned 37,789 shares of the company's stock, valued at approximately $3,153,869.94. The trade was a 22.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.52% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on EVRG shares. Barclays raised their price target on Evergy from $89.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, June 30th. Citigroup boosted their target price on Evergy from $95.00 to $97.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. BTIG Research set a $97.00 price target on shares of Evergy in a research report on Thursday, July 23rd. BMO Capital Markets raised their price objective on Evergy from $88.00 to $92.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Evergy in a report on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $90.60.

Evergy Profile

Evergy, Inc is an investor-owned electric utility that generates, transmits, distributes and sells electricity to residential, commercial, industrial and other customers. The company operates regulated utilities and provides electric service through its Kansas and Missouri subsidiaries.

Evergy serves customers across much of Kansas and in western Missouri, including the Kansas City metropolitan area. Its generation portfolio includes a mix of renewable and conventional resources, such as wind, solar, natural gas and coal, as well as an ownership interest in the Wolf Creek nuclear generating station in Kansas.

The company was formed in 2018 through the merger of Great Plains Energy Incorporated and Westar Energy, Inc Evergy is headquartered in Topeka, Kansas, with significant operations in the Kansas City region.

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