Fifth Third Bancorp Acquires 25,612 Shares of Evergy Inc. $EVRG

Key Points

• Fifth Third Bancorp increased its stake in Evergy Inc. by 136.5% during the 2nd quarter, now owning 44,381 shares valued at approximately $3.06 million.
• Evergy's stock recently reported a 0.8% increase and has a market capitalization of $17.05 billion, with a twelve-month high of $74.57.
• The company announced a quarterly dividend of $0.6675 per share, representing an annualized dividend yield of 3.6%.

Fifth Third Bancorp increased its holdings in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 136.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,381 shares of the company's stock after purchasing an additional 25,612 shares during the period. Fifth Third Bancorp's holdings in Evergy were worth $3,059,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Horizon Investments LLC lifted its holdings in shares of Evergy by 4.9% during the 1st quarter. Horizon Investments LLC now owns 3,353 shares of the company's stock valued at $231,000 after purchasing an additional 158 shares in the last quarter. Stolper Co lifted its stake in Evergy by 0.5% in the 1st quarter. Stolper Co now owns 34,630 shares of the company's stock valued at $2,388,000 after acquiring an additional 169 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in Evergy by 4.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,944 shares of the company's stock valued at $341,000 after acquiring an additional 210 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Evergy by 6.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,905 shares of the company's stock valued at $269,000 after acquiring an additional 221 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Evergy by 2.5% in the 1st quarter. Parallel Advisors LLC now owns 9,338 shares of the company's stock valued at $644,000 after acquiring an additional 227 shares in the last quarter. Institutional investors own 87.24% of the company's stock.

Evergy Stock Up 0.8%

NASDAQ:EVRG opened at $74.07 on Friday. The firm has a market capitalization of $17.05 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 3.21 and a beta of 0.58. Evergy Inc. has a twelve month low of $59.00 and a twelve month high of $74.57. The stock's 50 day moving average price is $71.73 and its two-hundred day moving average price is $68.91. 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 posted 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 firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The business's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Equities 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 announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were issued 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 dividend yield of 3.6%. Evergy's payout ratio is presently 73.35%.

Wall Street Analysts Forecast Growth

EVRG has been the topic of several research reports. Jefferies Financial Group set a $78.00 target price on Evergy and gave the company a "buy" rating in a research note on Tuesday, June 10th. Barclays cut their target price on Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Finally, Mizuho boosted their target price on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $74.44.

Insider Buying and Selling at Evergy

In related 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 transaction, the senior vice president directly owned 499 shares of the company's stock, valued at approximately $36,092.67. The trade was a 94.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.42% of the company's stock.

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.

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