Guggenheim Capital LLC Increases Stock Holdings in Evergy Inc. $EVRG

Key Points

• Guggenheim Capital LLC increased its stake in Evergy Inc. by 11.8%, owning a total of 230,667 shares valued at approximately $15.9 million as of its latest SEC filing.
• Evergy reported a quarterly EPS of $0.82, surpassing the consensus estimate, but its revenue of $1.43 billion fell short of expectations.
• The company announced a $0.6675 quarterly dividend, leading to an annualized dividend of $2.67 and a dividend yield of 3.7%.

Guggenheim Capital LLC increased its position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 11.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 230,667 shares of the company's stock after buying an additional 24,312 shares during the period. Guggenheim Capital LLC owned about 0.10% of Evergy worth $15,904,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EVRG. Bfsg LLC purchased a new stake in shares of Evergy during the first quarter worth approximately $25,000. Colonial Trust Co SC acquired a new position in Evergy in the fourth quarter valued at approximately $32,000. Alpine Bank Wealth Management acquired a new position in Evergy in the first quarter valued at approximately $32,000. Olde Wealth Management LLC acquired a new position in Evergy in the first quarter valued at approximately $32,000. Finally, LRI Investments LLC acquired a new position in Evergy in the first quarter valued at approximately $32,000. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EVRG has been the subject of a number of research analyst reports. Barclays lowered their price target on 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 price target on Evergy and gave the company a "buy" rating in a report on Tuesday, June 10th. Mizuho upped their price target on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a report on Friday, August 8th. LADENBURG THALM/SH SH raised Evergy to a "strong-buy" rating in a report on Thursday, May 8th. Finally, Citigroup upped their price target on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $74.44.

Evergy Stock Performance

Shares of NASDAQ EVRG traded up $0.05 during mid-day trading on Monday, hitting $71.26. 1,218,425 shares of the company were exchanged, compared to its average volume of 2,285,930. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24. The stock has a 50 day simple moving average of $70.43 and a 200-day simple moving average of $68.28. Evergy Inc. has a 1-year low of $58.25 and a 1-year high of $73.97. The firm has a market cap of $16.40 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 3.11 and a beta of 0.58.

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 the consensus estimate of $0.78 by $0.04. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the company earned $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. On average, sell-side analysts forecast that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be given a $0.6675 dividend. The ex-dividend date is Friday, August 22nd. This represents a $2.67 annualized dividend and a yield of 3.7%. Evergy's dividend payout ratio is presently 73.35%.

Evergy 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.