Gotham Asset Management LLC Grows Stock Position in Evergy Inc. $EVRG

Key Points

• Gotham Asset Management LLC increased its stake in Evergy Inc. by 62.9%, acquiring a total of 407,696 shares valued at approximately $28.1 million.
• Evergy's recent quarterly earnings showed a net income of $0.82 EPS, beating estimates but indicating a decline in revenue of 0.7% year-over-year.
• The company announced a quarterly dividend of $0.6675, which provides a dividend yield of 3.7% and is set to be paid on September 19th.

Gotham Asset Management LLC increased its holdings in Evergy Inc. (NASDAQ:EVRG - Free Report) by 62.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 407,696 shares of the company's stock after acquiring an additional 157,497 shares during the period. Gotham Asset Management LLC owned about 0.18% of Evergy worth $28,111,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Horizon Investments LLC grew its holdings in shares of Evergy by 4.9% in 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 in the last quarter. Stolper Co grew its holdings in shares of Evergy by 0.5% in 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 in the last quarter. Retirement Planning Group LLC grew its holdings in shares of Evergy by 0.9% in the fourth quarter. Retirement Planning Group LLC now owns 24,372 shares of the company's stock valued at $1,500,000 after acquiring an additional 210 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of Evergy by 4.4% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,944 shares of the company's stock valued at $341,000 after acquiring an additional 210 shares in the last quarter. Finally, MainStreet Investment Advisors LLC grew its holdings in shares of Evergy by 4.7% in the fourth quarter. MainStreet Investment Advisors LLC now owns 4,877 shares of the company's stock valued at $300,000 after acquiring an additional 221 shares in the last quarter. 87.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on EVRG. Mizuho upped their target price on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Citigroup upped their target price on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a report on Friday, May 16th. BMO Capital Markets assumed coverage on Evergy in a report on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 target price for the company. Jefferies Financial Group set a $78.00 price objective on Evergy and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Barclays reduced their price objective on Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a report on Friday, May 30th. One 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.com, the company has an average rating of "Buy" and an average price target of $74.44.

Evergy Price Performance

Shares of EVRG stock traded up $0.33 on Tuesday, reaching $71.10. The company's stock had a trading volume of 1,453,660 shares, compared to its average volume of 2,324,176. 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 12-month low of $59.00 and a 12-month high of $73.97. The company has a market capitalization of $16.36 billion, a P/E ratio of 19.53, a PEG ratio of 3.13 and a beta of 0.58. The stock's 50 day simple moving average is $70.77 and its 200-day simple moving average is $68.46.

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

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders 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 annualized dividend and a dividend yield of 3.8%. Evergy's payout ratio is currently 73.35%.

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.