Gulf International Bank UK Ltd Cuts Stock Position in Evergy Inc. $EVRG

Key Points

• Gulf International Bank UK Ltd reduced its stake in Evergy Inc. by 27.6%, now holding 13,107 shares valued at approximately $903,000.
• Several institutional investors, including Nuveen LLC and GAMMA Investing LLC, have significantly increased their positions in Evergy, highlighting continued interest in the company's stock.
• Evergy recently announced a quarterly dividend of $0.6675, representing an annualized dividend yield of 3.7%, with a payout ratio of 73.35%.

Gulf International Bank UK Ltd trimmed its stake in Evergy Inc. (NASDAQ:EVRG - Free Report) by 27.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,107 shares of the company's stock after selling 5,000 shares during the quarter. Gulf International Bank UK Ltd's holdings in Evergy were worth $903,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of EVRG. Bfsg LLC purchased a new position in shares of Evergy in the 1st quarter worth about $25,000. Alpine Bank Wealth Management purchased a new position in Evergy in the first quarter worth about $32,000. LRI Investments LLC purchased a new position in Evergy in the first quarter worth about $32,000. Clearstead Trust LLC bought a new position in shares of Evergy in the first quarter worth approximately $32,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Evergy during the first quarter valued at approximately $32,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on EVRG shares. Citigroup boosted their price objective on shares of Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Wall Street Zen downgraded Evergy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Mizuho lifted their price objective on Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. LADENBURG THALM/SH SH raised Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to MarketBeat.com, Evergy currently has a consensus rating of "Buy" and an average price target of $74.44.

Evergy Stock Performance

Shares of EVRG traded up $0.10 on Wednesday, reaching $72.60. The company's stock had a trading volume of 1,586,185 shares, compared to its average volume of 2,350,331. The stock's 50 day simple moving average is $69.69 and its two-hundred day simple moving average is $67.91. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.50 and a quick ratio of 0.27. The stock has a market capitalization of $16.71 billion, a P/E ratio of 19.95, a PEG ratio of 3.12 and a beta of 0.48. Evergy Inc. has a 12-month low of $57.82 and a 12-month high of $73.97.

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

Evergy Announces Dividend

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

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.