Evergy Inc. (NASDAQ:EVRG) Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its holdings in Evergy Inc. by 59.8%, acquiring an additional 199,697 shares in the first quarter, bringing its total to 533,671 shares worth approximately $36.79 million.
• Evergy reported $0.82 EPS for the most recent quarter, exceeding analysts' expectations, despite a 0.7% year-over-year decline in revenue, totaling $1.43 billion.
• The company recently announced a quarterly dividend of $0.6675 per share, equating to an annualized dividend yield of 3.7%, with a payout ratio of 73.35%.

Russell Investments Group Ltd. raised its holdings in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 59.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 533,671 shares of the company's stock after acquiring an additional 199,697 shares during the period. Russell Investments Group Ltd. owned approximately 0.23% of Evergy worth $36,792,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Nuveen LLC acquired a new stake in Evergy during the 1st quarter valued at approximately $212,132,000. Northern Trust Corp lifted its stake in Evergy by 5.7% during the 4th quarter. Northern Trust Corp now owns 2,345,119 shares of the company's stock valued at $144,342,000 after acquiring an additional 125,898 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Evergy by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,174,047 shares of the company's stock valued at $149,901,000 after purchasing an additional 13,555 shares during the period. Jennison Associates LLC lifted its stake in shares of Evergy by 11.2% in the 1st quarter. Jennison Associates LLC now owns 1,730,849 shares of the company's stock valued at $119,342,000 after purchasing an additional 174,269 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of Evergy by 12.8% in the 4th quarter. Two Sigma Advisers LP now owns 1,417,100 shares of the company's stock valued at $87,223,000 after purchasing an additional 161,000 shares during the period. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Price Performance

Evergy stock opened at $72.81 on Friday. Evergy Inc. has a 52-week low of $57.82 and a 52-week high of $73.97. The firm has a market capitalization of $16.76 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 3.20 and a beta of 0.48. The company has a fifty day simple moving average of $69.38 and a 200-day simple moving average of $67.71. 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 released 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. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The company's revenue for the quarter was down .7% compared to the same quarter last year. On average, equities analysts anticipate that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.6675 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.7%. Evergy's dividend payout ratio is presently 73.35%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EVRG. Jefferies Financial Group set a $78.00 target price on shares of Evergy and gave the company a "buy" rating in a research note on Tuesday, June 10th. Citigroup boosted their target price on shares of Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Barclays decreased their target price on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Wall Street Zen cut shares of Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Mizuho boosted their target price on shares of Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Evergy has an average rating of "Moderate Buy" and a consensus price target of $74.44.

About Evergy

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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