3,076,607 Shares in Evergy Inc. (NASDAQ:EVRG) Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired **3,076,607 shares** of Evergy Inc. during the first quarter, valued at approximately **$212 million**, bringing their total ownership to **1.34%** of the company.
• Evergy reported **earnings of $0.82 per share**, beating estimates, though revenue for the quarter decreased by **0.7% year-over-year**.
• The company announced a quarterly dividend of **$0.6675 per share**, with a dividend yield of **3.7%** and a payout ratio of **73.35%**.

Nuveen LLC acquired a new position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,076,607 shares of the company's stock, valued at approximately $212,132,000. Nuveen LLC owned about 1.34% of Evergy at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Bfsg LLC bought a new stake in Evergy in the first quarter valued at approximately $25,000. Alpine Bank Wealth Management acquired a new stake in Evergy in the 1st quarter worth about $32,000. LRI Investments LLC acquired a new stake in Evergy in the 1st quarter worth about $32,000. Clearstead Trust LLC bought a new position in Evergy in the 1st quarter valued at about $32,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Evergy during the 1st quarter valued at approximately $32,000. 87.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Mizuho lifted their target price 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. Barclays decreased their price target 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. Jefferies Financial Group set a $78.00 target price on shares of Evergy and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Wall Street Zen lowered shares of Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, BMO Capital Markets started coverage on shares of Evergy in a research report on Tuesday, May 13th. They set an "outperform" rating and a $75.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $74.44.

Evergy Trading Down 1.2%

NASDAQ:EVRG traded down $0.86 during trading hours on Friday, hitting $71.95. The company had a trading volume of 2,124,760 shares, compared to its average volume of 2,402,341. The company has a market capitalization of $16.56 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 3.18 and a beta of 0.48. The stock has a 50-day moving average price of $69.52 and a 200 day moving average price of $67.77. Evergy Inc. has a 52 week low of $57.82 and a 52 week high of $73.97. 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 (NASDAQ:EVRG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%. The company's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 earnings per share. On average, equities research analysts predict that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 3.7%. Evergy's dividend payout ratio is currently 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.