Korea Investment CORP Acquires 38,133 Shares of Evergy Inc. $EVRG

Key Points

• Korea Investment CORP increased its holdings in Evergy Inc. by 15.8%, acquiring 38,133 shares and totaling 279,790 shares worth approximately $19.3 million.
• Evergy reported $0.82 earnings per share for the quarter, exceeding analyst expectations and setting its FY 2025 guidance between 3.920-4.120 EPS.
• The company will pay a quarterly dividend of $0.6675 per share on September 19th, with a current yield of 3.7% and a payout ratio of 73.35%.

Korea Investment CORP increased its holdings in Evergy Inc. (NASDAQ:EVRG - Free Report) by 15.8% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 279,790 shares of the company's stock after buying an additional 38,133 shares during the quarter. Korea Investment CORP owned about 0.12% of Evergy worth $19,292,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EVRG. Bfsg LLC bought a new stake in Evergy in the 1st quarter worth about $25,000. Colonial Trust Co SC bought a new stake in Evergy in the 4th quarter worth about $32,000. Alpine Bank Wealth Management purchased a new position in Evergy in the first quarter worth about $32,000. Olde Wealth Management LLC purchased a new position in Evergy in the first quarter worth about $32,000. Finally, LRI Investments LLC purchased a new position in Evergy in the first quarter worth about $32,000. 87.24% of the stock is currently owned by institutional investors.

Evergy Stock Up 0.1%

EVRG stock opened at $72.60 on Thursday. Evergy Inc. has a twelve month low of $57.82 and a twelve month high of $73.97. 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 market cap of $16.71 billion, a P/E ratio of 19.95, a PEG ratio of 3.17 and a beta of 0.48. The business's 50-day moving average price is $69.79 and its 200-day moving average price is $67.94.

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, 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 firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same period in the previous year, the firm earned $0.90 EPS. The business's quarterly revenue was down .7% on a year-over-year basis. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. On average, equities research analysts forecast that Evergy Inc. will post 3.83 EPS for the current 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 given a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, August 22nd. Evergy's payout ratio is presently 73.35%.

Wall Street Analysts Forecast Growth

EVRG has been the topic of several research reports. LADENBURG THALM/SH SH raised Evergy to a "strong-buy" rating in a research report on Thursday, May 8th. Citigroup raised their target price on Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Mizuho raised their target price on Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Wall Street Zen cut Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, BMO Capital Markets initiated coverage on Evergy in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $74.44.

About Evergy

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.

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