Gateway Investment Advisers LLC Cuts Stock Holdings in Evergy Inc. $EVRG

Key Points

• Gateway Investment Advisers LLC reduced its holdings in Evergy Inc. by 17.8%, now owning 55,249 shares valued at approximately $3.81 million.
• Evergy recently reported quarterly earnings of $0.82 EPS, surpassing the consensus estimate of $0.78, despite a slight decrease in revenue compared to last year.
• The company declared a quarterly dividend of $0.6675 per share to be paid on September 19th, representing an annual yield of 3.7% and a dividend payout ratio of 73.35%.

Gateway Investment Advisers LLC reduced its position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 17.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,249 shares of the company's stock after selling 11,996 shares during the period. Gateway Investment Advisers LLC's holdings in Evergy were worth $3,808,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC bought a new stake in Evergy during the first quarter valued at approximately $212,132,000. Northern Trust Corp lifted its stake in shares of Evergy by 16.7% during the 1st quarter. Northern Trust Corp now owns 2,737,480 shares of the company's stock worth $188,749,000 after purchasing an additional 392,361 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Evergy by 0.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,174,047 shares of the company's stock valued at $149,901,000 after acquiring an additional 13,555 shares during the period. Jennison Associates LLC increased its holdings in Evergy by 11.2% in the first quarter. Jennison Associates LLC now owns 1,730,849 shares of the company's stock valued at $119,342,000 after buying an additional 174,269 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Evergy by 27.7% in the 1st quarter. AQR Capital Management LLC now owns 1,482,508 shares of the company's stock valued at $101,715,000 after acquiring an additional 321,406 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Evergy news, SVP Lesley Lissette Elwell sold 8,000 shares of the business's stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.42% of the company's stock.

Evergy Stock Performance

NASDAQ EVRG traded up $1.01 during trading hours on Friday, hitting $72.29. The company had a trading volume of 2,782,613 shares, compared to its average volume of 1,868,421. 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 Inc. has a fifty-two week low of $59.00 and a fifty-two week high of $73.97. The firm has a market cap of $16.64 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 3.16 and a beta of 0.58. The business has a fifty day simple moving average of $71.22 and a 200-day simple moving average of $68.67.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating 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 net margin of 14.29% and a return on equity of 8.62%. The business's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Equities analysts predict that Evergy Inc. will post 3.83 EPS for the current 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 annualized dividend and a dividend yield of 3.7%. Evergy's dividend payout ratio (DPR) is currently 73.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EVRG shares. Barclays cut their price target on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Jefferies Financial Group set a $78.00 target price on shares of Evergy and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Mizuho lifted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price 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.