Evergy Inc. $EVRG Stock Holdings Trimmed by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth LLC has significantly reduced its stake in Evergy Inc. by 80.4%, now holding only 3,128 shares after selling 12,858 shares in the second quarter.
• Several hedge funds, including Amundi and Northern Trust Corp, have increased their holdings in Evergy, with Amundi raising its stake by 14.2%, resulting in a total of 140,301 shares.
• Evergy reported $0.82 earnings per share (EPS) for the last quarter, surpassing expectations, while also announcing a quarterly dividend of $0.6675 per share, which equates to a 3.5% yield.

SteelPeak Wealth LLC lowered its holdings in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 80.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,128 shares of the company's stock after selling 12,858 shares during the period. SteelPeak Wealth LLC's holdings in Evergy were worth $216,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Amundi raised its stake in Evergy by 14.2% during the 1st quarter. Amundi now owns 140,301 shares of the company's stock valued at $9,710,000 after acquiring an additional 17,477 shares in the last quarter. Northern Trust Corp increased its position in shares of Evergy by 16.7% during the 1st quarter. Northern Trust Corp now owns 2,737,480 shares of the company's stock valued at $188,749,000 after purchasing an additional 392,361 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Evergy during the 1st quarter valued at $267,000. Integrity Alliance LLC. acquired a new position in shares of Evergy during the 1st quarter valued at $319,000. Finally, HighTower Advisors LLC increased its position in shares of Evergy by 26.6% during the 1st quarter. HighTower Advisors LLC now owns 124,115 shares of the company's stock valued at $8,558,000 after purchasing an additional 26,086 shares during the period. Institutional investors own 87.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EVRG shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Evergy in a research report on Wednesday. Barclays reiterated an "outperform" rating on shares of Evergy in a research report on Thursday. Jefferies Financial Group lifted their price target on Evergy from $77.00 to $87.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Mizuho lifted their price target on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $76.94.

Insider Transactions at Evergy

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy stock in a transaction 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 completion of the sale, the senior vice president owned 499 shares of the company's stock, valued at approximately $36,092.67. This trade represents a 94.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.42% of the company's stock.

Evergy Stock Performance

Shares of NASDAQ EVRG opened at $76.69 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $17.65 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 3.40 and a beta of 0.57. The stock's fifty day simple moving average is $72.99 and its 200 day simple moving average is $69.49. Evergy Inc. has a 52-week low of $59.00 and a 52-week high of $78.56.

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

Evergy Announces Dividend

The company 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 yield of 3.5%. Evergy's dividend payout ratio (DPR) is presently 73.35%.

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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