Ieq Capital LLC Acquires 8,932 Shares of Evergy Inc. $EVRG

Key Points

• Ieq Capital LLC increased its holdings in Evergy Inc. by 33.3%, owning a total of 35,715 shares valued at approximately $2.46 million.
• Evergy reported Q2 earnings of $0.82 per share, surpassing expectations, but revenue was down 0.7% year-over-year at $1.43 billion.
• A quarterly dividend of $0.6675 has been declared, representing a 3.7% yield, with a payout ratio of 73.35%.

Ieq Capital LLC lifted its position in Evergy Inc. (NASDAQ:EVRG - Free Report) by 33.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,715 shares of the company's stock after acquiring an additional 8,932 shares during the period. Ieq Capital LLC's holdings in Evergy were worth $2,463,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Nuveen LLC purchased a new position in shares of Evergy in the first quarter worth approximately $212,132,000. Northern Trust Corp grew its holdings in shares of Evergy by 16.7% during the first quarter. Northern Trust Corp now owns 2,737,480 shares of the company's stock valued at $188,749,000 after buying an additional 392,361 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Evergy by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,174,047 shares of the company's stock valued at $149,901,000 after buying an additional 13,555 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Evergy by 11.2% during 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, Two Sigma Advisers LP grew its holdings in shares of Evergy by 12.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,417,100 shares of the company's stock valued at $87,223,000 after buying an additional 161,000 shares in the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. LADENBURG THALM/SH SH raised shares of Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Wall Street Zen cut Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. BMO Capital Markets began coverage on Evergy in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 price target for the company. Barclays lowered their price target on Evergy from $73.00 to $71.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Finally, Citigroup increased their target price on shares of Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $74.44.

Evergy Price Performance

Shares of NASDAQ:EVRG traded down $0.08 during trading on Thursday, reaching $71.31. The stock had a trading volume of 1,809,133 shares, compared to its average volume of 2,318,667. The business's 50-day moving average price is $70.60 and its 200 day moving average price is $68.36. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.50 and a quick ratio of 0.27. Evergy Inc. has a 52 week low of $59.00 and a 52 week high of $73.97. The stock has a market capitalization of $16.41 billion, a PE ratio of 19.58, a P/E/G ratio of 3.11 and a beta of 0.58.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.45 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. Evergy's revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS. 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 year.

Evergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, August 22nd. 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.