MBB Public Markets I LLC Invests $323,000 in Evergy Inc. $EVRG

Key Points

• MBB Public Markets I LLC has acquired a new stake in Evergy Inc. valued at approximately $323,000, contributing to a trend of significant investment from multiple hedge funds in the company.
• Evergy's recent quarterly earnings showed a net margin of 14.29% with $0.82 earnings per share, exceeding analysts' expectations, although revenue was slightly below projections.
• The company has announced a quarterly dividend of $0.6675 per share, which yields 3.8%, demonstrating a solid payout ratio of 73.35%.

MBB Public Markets I LLC bought a new position in Evergy Inc. (NASDAQ:EVRG - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 4,683 shares of the company's stock, valued at approximately $323,000.

A number of other large investors have also recently made changes to their positions in EVRG. Nuveen LLC bought a new stake in shares of Evergy in the 1st quarter worth about $212,132,000. GAMMA Investing LLC increased its holdings in shares of Evergy by 8,154.8% in the 1st quarter. GAMMA Investing LLC now owns 973,574 shares of the company's stock worth $67,128,000 after buying an additional 961,780 shares during the last quarter. Maple Brown Abbott Ltd bought a new stake in shares of Evergy in the 1st quarter worth about $63,444,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Evergy in the 1st quarter worth about $40,285,000. Finally, Northern Trust Corp increased its holdings in shares of Evergy by 16.7% in the 1st quarter. Northern Trust Corp now owns 2,737,480 shares of the company's stock worth $188,749,000 after buying an additional 392,361 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors.

Evergy Stock Up 0.3%

NASDAQ:EVRG traded up $0.22 during midday trading on Friday, reaching $72.52. 1,206,827 shares of the stock traded hands, compared to its average volume of 1,912,977. Evergy Inc. has a 12-month low of $59.00 and a 12-month high of $73.97. The business has a 50-day moving average of $70.94 and a two-hundred day moving average of $68.55. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50. The stock has a market capitalization of $16.69 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 3.16 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.04. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the business posted $0.90 EPS. Evergy'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. On average, equities analysts forecast that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Mizuho increased their price objective on shares of Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Jefferies Financial Group set a $78.00 price objective on shares of Evergy and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Barclays reduced their price objective on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Wall Street Zen downgraded shares of Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Citigroup upped their price target 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 investment 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 stock presently has a consensus rating of "Buy" and a consensus target price of $74.44.

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.