Park Avenue Securities LLC Has $1.31 Million Holdings in Evergy Inc. $EVRG

Key Points

• Park Avenue Securities LLC increased its holdings in Evergy Inc. by 112.3% in Q2, now owning 19,034 shares valued at approximately $1.31 million.
• Evergy's recent quarterly earnings beat analysts' expectations, reporting $0.82 EPS compared to the consensus of $0.78, although revenue showed a 0.7% decline year-over-year.
• The company announced a quarterly dividend of $0.6675, resulting in an annualized yield of 3.6% with a payout ratio of 73.35%.

Park Avenue Securities LLC raised its position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 112.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,034 shares of the company's stock after buying an additional 10,068 shares during the quarter. Park Avenue Securities LLC's holdings in Evergy were worth $1,312,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Nuveen LLC purchased a new stake in shares of Evergy in the 1st quarter valued at approximately $212,132,000. GAMMA Investing LLC raised its stake in Evergy by 8,154.8% during the 1st quarter. GAMMA Investing LLC now owns 973,574 shares of the company's stock valued at $67,128,000 after purchasing an additional 961,780 shares during the period. Maple Brown Abbott Ltd purchased a new stake in shares of Evergy in the first quarter valued at $63,444,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Evergy in the first quarter worth $40,285,000. Finally, 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. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Stock Down 0.3%

EVRG opened at $73.51 on Friday. The company has a market capitalization of $16.92 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 3.22 and a beta of 0.58. 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 fifty-two week low of $59.00 and a fifty-two week high of $74.57. The business has a 50-day moving average of $71.63 and a 200-day moving average of $68.86.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The firm's revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 earnings per share. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Equities research analysts forecast that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were paid a $0.6675 dividend. This represents a $2.67 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, August 22nd. Evergy's payout ratio is presently 73.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Mizuho increased their price objective on Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Barclays dropped their target price on Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Finally, Jefferies Financial Group set a $78.00 price target on shares of Evergy and gave the stock a "buy" rating in a report on Tuesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $74.44.

Insider Transactions at Evergy

In other Evergy news, SVP Lesley Lissette Elwell sold 8,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $72.33, for a total transaction of $578,640.00. Following the transaction, the senior vice president directly owned 499 shares of the company's stock, valued at $36,092.67. This represents a 94.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.42% of the company's stock.

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.

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