Pensionfund Sabic Decreases Holdings in Evergy Inc. $EVRG

Key Points

• Pensionfund Sabic reduced its holdings in Evergy Inc. by 22.5%, selling 5,400 shares, leaving it with 18,600 shares valued at approximately $1.28 million.
• Evergy recently reported $0.82 earnings per share, surpassing expectations of $0.78, although revenue was down 0.7% from the same quarter last year.
• The company announced a quarterly dividend of $0.6675 per share, with an ex-dividend date set for August 22nd, corresponding to a 3.7% annual yield.

Pensionfund Sabic reduced its stake in Evergy Inc. (NASDAQ:EVRG - Free Report) by 22.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,600 shares of the company's stock after selling 5,400 shares during the quarter. Pensionfund Sabic's holdings in Evergy were worth $1,282,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Inspire Investing LLC lifted its stake in Evergy by 3.3% in the first quarter. Inspire Investing LLC now owns 25,089 shares of the company's stock valued at $1,730,000 after buying an additional 794 shares during the period. Strs Ohio acquired a new position in Evergy in the first quarter valued at approximately $2,693,000. Intrua Financial LLC lifted its stake in Evergy by 18.0% in the first quarter. Intrua Financial LLC now owns 13,349 shares of the company's stock valued at $920,000 after buying an additional 2,035 shares during the period. Geneos Wealth Management Inc. lifted its stake in Evergy by 46.6% in the first quarter. Geneos Wealth Management Inc. now owns 3,925 shares of the company's stock valued at $271,000 after buying an additional 1,247 shares during the period. Finally, Intech Investment Management LLC lifted its stake in Evergy by 6.8% in the first quarter. Intech Investment Management LLC now owns 40,712 shares of the company's stock valued at $2,807,000 after buying an additional 2,605 shares during the period. 87.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EVRG. Jefferies Financial Group set a $78.00 price target on Evergy and gave the company a "buy" rating in a research note on Tuesday, June 10th. Barclays dropped their target price on Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Wall Street Zen cut Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Mizuho upped their price objective on Evergy from $74.00 to $77.00 and gave the company 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $74.44.

Evergy Stock Up 0.3%

Evergy stock traded up $0.24 during midday trading on Thursday, reaching $72.00. The company's stock had a trading volume of 714,301 shares, compared to its average volume of 2,296,753. The business has a 50-day simple moving average of $71.12 and a 200-day simple moving average of $68.61. The company has a market cap of $16.57 billion, a P/E ratio of 19.78, a P/E/G ratio of 3.12 and a beta of 0.58. Evergy Inc. has a fifty-two week low of $59.00 and a fifty-two week high of $73.97. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24.

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, 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 analyst estimates of $1.45 billion. During the same quarter last year, the company posted $0.90 earnings per share. The business's quarterly revenue was down .7% compared to the same quarter last year. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. On average, research analysts expect that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The firm also recently disclosed 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. This represents a $2.67 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, August 22nd. Evergy's payout ratio is currently 73.35%.

Insider Activity at Evergy

In other 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 transaction 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.42% of the stock is owned by company insiders.

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.