Gabelli Funds LLC Cuts Position in Evergy Inc. $EVRG

Key Points

• Gabelli Funds LLC reduced its stake in Evergy Inc. by 3.3%, now owning approximately 1,079,307 shares valued at $74.4 million.
• A mix of institutional investors have altered their holdings in Evergy, with several increasing their stakes in the first quarter of 2023.
• Evergy recently announced a quarterly dividend of $0.6675 per share, yielding 3.7% annually, with a payout ratio of 73.35%.

Gabelli Funds LLC lessened its position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,079,307 shares of the company's stock after selling 37,000 shares during the quarter. Gabelli Funds LLC owned about 0.47% of Evergy worth $74,418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of EVRG. Horizon Investments LLC grew its stake in Evergy by 4.9% during the 1st quarter. Horizon Investments LLC now owns 3,353 shares of the company's stock worth $231,000 after buying an additional 158 shares during the last quarter. Stolper Co grew its stake in Evergy by 0.5% during the 1st quarter. Stolper Co now owns 34,630 shares of the company's stock worth $2,388,000 after buying an additional 169 shares during the last quarter. Retirement Planning Group LLC grew its stake in Evergy by 0.9% during the 4th 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 stake in Evergy by 4.4% during the 1st 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 stake in Evergy by 4.7% during the 4th 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. Hedge funds and other institutional investors own 87.24% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on EVRG shares. Wall Street Zen downgraded Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. LADENBURG THALM/SH SH upgraded Evergy to a "strong-buy" rating in a research note on Thursday, May 8th. Barclays lowered 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. Citigroup upped their price target on Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, Jefferies Financial Group set a $78.00 price target on Evergy and gave the stock a "buy" rating in a report on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $74.44.

Evergy Trading Down 0.9%

EVRG opened at $71.65 on Tuesday. Evergy Inc. has a 52 week low of $58.25 and a 52 week high of $73.97. The business has a fifty day simple moving average of $70.06 and a 200-day simple moving average of $68.14. The firm has a market cap of $16.49 billion, a P/E ratio of 19.68, a P/E/G ratio of 3.16 and a beta of 0.48. 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, beating 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 return on equity of 8.62% and a net margin of 14.29%.Evergy's revenue was down .7% compared to the same quarter last year. During the same period last year, the business posted $0.90 earnings per share. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. On average, equities analysts expect that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, August 22nd will be issued a $0.6675 dividend. 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 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.

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