First Citizens Bank & Trust Co. Makes New $8.60 Million Investment in Evergy Inc. $EVRG

Key Points

• First Citizens Bank & Trust Co. acquired approximately $8.60 million in shares of Evergy Inc., increasing its holdings to about 0.05% of the company.
• Evergy reported $0.82 EPS for the last quarter, surpassing analysts' estimates, although revenue decreased by 0.7% year-over-year.
• The company declared a quarterly dividend of $0.6675 per share, yielding an annualized dividend of 3.4%.

First Citizens Bank & Trust Co. acquired a new position in Evergy Inc. (NASDAQ:EVRG - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 124,754 shares of the company's stock, valued at approximately $8,599,000. First Citizens Bank & Trust Co. owned approximately 0.05% of Evergy as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in shares of Evergy during the 1st quarter worth approximately $32,000. Olde Wealth Management LLC purchased a new stake in Evergy during the first quarter valued at about $32,000. LRI Investments LLC acquired a new stake in Evergy during the 1st quarter worth approximately $32,000. Clearstead Trust LLC purchased a new position in Evergy in the first quarter valued at approximately $32,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in Evergy during the first quarter valued at approximately $34,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Price Performance

EVRG stock opened at $78.73 on Thursday. The firm has a 50-day moving average of $73.95 and a two-hundred day moving average of $70.12. The firm has a market capitalization of $18.12 billion, a PE ratio of 21.63, a P/E/G ratio of 3.61 and a beta of 0.57. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. Evergy Inc. has a one year low of $59.23 and a one year high of $79.32.

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

Evergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 22nd were paid 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 3.4%. Evergy's dividend payout ratio (DPR) is 73.35%.

Insider Activity

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 value 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. The trade was a 94.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.42% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EVRG. Jefferies Financial Group upped their price objective on Evergy from $77.00 to $87.00 and gave the company a "buy" rating in a research note on Thursday, October 9th. Barclays reaffirmed an "outperform" rating on shares of Evergy in a research note on Thursday, October 9th. Mizuho upped their price target on shares of Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Evergy in a research note on Wednesday, October 8th. One equities research 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 has an average rating of "Buy" and an average price target of $78.07.

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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