First Manhattan CO. LLC. Has $6.24 Million Position in Evergy Inc. $EVRG

Key Points

• First Manhattan CO. LLC. reduced its stake in Evergy Inc. by 5.8%, selling 5,619 shares to hold 90,519 shares valued at approximately $6.24 million.
• Evergy reported $0.82 earnings per share in its latest earnings results, surpassing analysts' expectations of $0.78, but its revenue of $1.43 billion was slightly below projections.
• The company announced a quarterly dividend of $0.6675 per share, equivalent to an annual yield of 3.7%, to be paid on September 19th to shareholders of record.

First Manhattan CO. LLC. lessened its stake in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 5.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,519 shares of the company's stock after selling 5,619 shares during the quarter. First Manhattan CO. LLC.'s holdings in Evergy were worth $6,241,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Horizon Investments LLC increased its stake in shares of Evergy by 4.9% during the first quarter. Horizon Investments LLC now owns 3,353 shares of the company's stock valued at $231,000 after acquiring an additional 158 shares during the period. Stolper Co increased its stake in shares of Evergy by 0.5% during the first quarter. Stolper Co now owns 34,630 shares of the company's stock valued at $2,388,000 after acquiring an additional 169 shares during the period. Retirement Planning Group LLC grew its position in Evergy by 0.9% in the fourth quarter. Retirement Planning Group LLC now owns 24,372 shares of the company's stock worth $1,500,000 after buying an additional 210 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Evergy by 4.4% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,944 shares of the company's stock worth $341,000 after buying an additional 210 shares during the last quarter. Finally, MainStreet Investment Advisors LLC grew its position in Evergy by 4.7% in the fourth quarter. MainStreet Investment Advisors LLC now owns 4,877 shares of the company's stock worth $300,000 after buying an additional 221 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EVRG. Wall Street Zen lowered shares of Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Citigroup lifted their price target on shares of Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Barclays decreased their price target on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Jefferies Financial Group set a $78.00 price target on shares of Evergy and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Finally, Mizuho lifted their price target on shares of Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $74.44.

Evergy Trading Up 0.0%

Evergy stock traded up $0.02 during midday trading on Friday, reaching $71.60. The stock had a trading volume of 2,182,774 shares, compared to its average volume of 1,906,817. The firm's fifty day simple moving average is $70.73 and its two-hundred day simple moving average is $68.44. Evergy Inc. has a twelve month low of $59.00 and a twelve month high of $73.97. 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 firm has a market cap of $16.48 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 3.13 and a beta of 0.58.

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. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the business posted $0.90 EPS. The company's revenue was down .7% on a year-over-year basis. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Equities analysts anticipate that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be paid a $0.6675 dividend. The ex-dividend date of this dividend 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 currently 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.