HITE Hedge Asset Management LLC Has $22.54 Million Stake in Evergy Inc. $EVRG

Key Points

• HITE Hedge Asset Management LLC increased its stake in Evergy Inc. by 27.4% in Q1, owning 326,872 shares valued at approximately $22.5 million.
• Evergy announced a quarterly dividend of $0.6675, leading to an annualized dividend yield of 3.7% with a payout ratio of 73.35%.
• Stock analysts have mixed views on Evergy, with ratings ranging from a sell to a strong buy, and an average price target of $74.44.

HITE Hedge Asset Management LLC raised its position in Evergy Inc. (NASDAQ:EVRG - Free Report) by 27.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 326,872 shares of the company's stock after purchasing an additional 70,278 shares during the period. Evergy makes up about 1.4% of HITE Hedge Asset Management LLC's investment portfolio, making the stock its 24th biggest holding. HITE Hedge Asset Management LLC owned about 0.14% of Evergy worth $22,538,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Horizon Investments LLC boosted its holdings in Evergy by 4.9% during the first quarter. Horizon Investments LLC now owns 3,353 shares of the company's stock worth $231,000 after purchasing an additional 158 shares during the last quarter. Stolper Co boosted its holdings in Evergy by 0.5% during the first quarter. Stolper Co now owns 34,630 shares of the company's stock worth $2,388,000 after purchasing an additional 169 shares during the last quarter. Retirement Planning Group LLC boosted its holdings in Evergy by 0.9% during the fourth quarter. Retirement Planning Group LLC now owns 24,372 shares of the company's stock worth $1,500,000 after purchasing an additional 210 shares during the last quarter. MainStreet Investment Advisors LLC boosted its holdings in Evergy by 4.7% during the fourth quarter. MainStreet Investment Advisors LLC now owns 4,877 shares of the company's stock worth $300,000 after purchasing an additional 221 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Evergy by 2.5% during the first quarter. Parallel Advisors LLC now owns 9,338 shares of the company's stock worth $644,000 after purchasing an additional 227 shares during the last quarter. Institutional investors own 87.24% of the company's stock.

Evergy Stock Performance

Shares of NASDAQ EVRG traded down $0.24 during midday trading on Friday, hitting $72.30. 1,116,983 shares of the company's stock were exchanged, compared to its average volume of 2,339,157. 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 $58.25 and a 12 month high of $73.97. The company's 50 day moving average price is $69.88 and its 200 day moving average price is $68.00. The firm has a market capitalization of $16.64 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 3.17 and a beta of 0.48.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.82 EPS 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 company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the company posted $0.90 EPS. The firm's revenue for the quarter was down .7% compared to the same quarter last year. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. As a group, analysts predict that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EVRG. LADENBURG THALM/SH SH upgraded Evergy to a "strong-buy" rating in a research note on Thursday, May 8th. Citigroup increased their price objective on Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a report on Friday, May 16th. Barclays decreased their target price on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Wall Street Zen lowered shares of Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Mizuho increased their price target on shares of Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat, Evergy presently has an average rating of "Buy" and a consensus target price of $74.44.

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.