Gamco Investors INC. ET AL Reduces Holdings in Evergy Inc. $EVRG

Key Points

• Gamco Investors INC. ET AL reduced its stake in Evergy Inc. by 1.5%, selling 4,482 shares and retaining ownership of 287,921 shares, valued at approximately $19.85 million.
• Evergy recently announced a quarterly dividend of $0.6675 per share, representing a 3.7% dividend yield, with a payout ratio of 73.35%.
• Analysts have mixed ratings on Evergy's stock, with a consensus price target of $74.44 and a range of ratings from "Sell" to "Buy" reflecting varied outlooks on future performance.

Gamco Investors INC. ET AL reduced its holdings in Evergy Inc. (NASDAQ:EVRG - Free Report) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 287,921 shares of the company's stock after selling 4,482 shares during the quarter. Gamco Investors INC. ET AL owned about 0.13% of Evergy worth $19,852,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in EVRG. Nuveen LLC bought a new stake in Evergy in the first quarter worth approximately $212,132,000. GAMMA Investing LLC increased its holdings in shares of Evergy by 8,154.8% during the first quarter. GAMMA Investing LLC now owns 973,574 shares of the company's stock valued at $67,128,000 after acquiring an additional 961,780 shares in the last quarter. Maple Brown Abbott Ltd bought a new stake in shares of Evergy during the first quarter valued at approximately $63,444,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Evergy during the first quarter valued at approximately $40,285,000. Finally, Captrust Financial Advisors increased its holdings in shares of Evergy by 67.2% during the fourth quarter. Captrust Financial Advisors now owns 1,113,538 shares of the company's stock valued at $68,538,000 after acquiring an additional 447,558 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors.

Evergy Stock Performance

Shares of Evergy stock traded up $0.05 during trading hours on Friday, hitting $71.26. 1,218,425 shares of the company's stock traded hands, compared to its average volume of 2,345,610. The company has a fifty day simple moving average of $70.43 and a 200-day simple moving average of $68.27. 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 $16.40 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 3.11 and a beta of 0.48. Evergy Inc. has a 12-month low of $58.25 and a 12-month high of $73.97.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. The company 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 firm's quarterly revenue was down .7% on a year-over-year basis. During the same period 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 anticipate that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The business also recently declared 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. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, August 22nd. Evergy's payout ratio is 73.35%.

Wall Street Analyst Weigh In

EVRG has been the topic of several analyst reports. Barclays cut their target price on Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Citigroup lifted their target price on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Mizuho lifted their target price on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research 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, BMO Capital Markets initiated coverage on Evergy in a research report on Tuesday, May 13th. They set an "outperform" rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to data from MarketBeat.com, Evergy presently has a consensus rating of "Buy" and an average price target of $74.44.

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.