Patton Fund Management Inc. Makes New Investment in Evergy Inc. $EVRG

Key Points

• Patton Fund Management Inc. acquired 48,565 shares of Evergy Inc., valued at approximately $3,348,000, making it 2.3% of their investment portfolio.
• Analyst ratings are generally positive, with Mizuho raising its target price for Evergy from $74.00 to $77.00, while other firms have set target prices between $71.00 and $78.00.
• Evergy recently declared a quarterly dividend of $0.6675 per share, yielding approximately 3.6% annually, and reported earnings of $0.82 per share for its latest quarter.

Patton Fund Management Inc. purchased a new position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 48,565 shares of the company's stock, valued at approximately $3,348,000. Evergy comprises about 2.3% of Patton Fund Management Inc.'s investment portfolio, making the stock its 27th biggest position.

Several other institutional investors have also recently made changes to their positions in EVRG. Brighton Jones LLC acquired a new position in shares of Evergy during the 4th quarter worth approximately $257,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Evergy during the 4th quarter worth approximately $1,728,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Evergy by 33.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,249 shares of the company's stock worth $2,046,000 after purchasing an additional 8,385 shares during the last quarter. 111 Capital acquired a new position in shares of Evergy during the 4th quarter worth approximately $341,000. Finally, Versant Capital Management Inc increased its position in shares of Evergy by 184.4% during the 1st quarter. Versant Capital Management Inc now owns 2,133 shares of the company's stock worth $147,000 after purchasing an additional 1,383 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on EVRG. Mizuho lifted their target price on Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Barclays reduced their target price 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, Jefferies Financial Group set a $78.00 target price on Evergy and gave the stock a "buy" rating in a research note on Tuesday, June 10th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $74.44.

Insider Transactions at Evergy

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of the business's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $72.33, for a total value of $578,640.00. Following the completion of the sale, the senior vice president directly owned 499 shares in the company, valued at $36,092.67. The trade was a 94.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.42% of the stock is owned by company insiders.

Evergy Stock Performance

EVRG opened at $74.07 on Friday. The business has a fifty day simple moving average of $71.73 and a 200 day simple moving average of $68.91. The company has a market capitalization of $17.05 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 3.21 and a beta of 0.58. Evergy Inc. has a 1 year low of $59.00 and a 1 year high of $74.57. 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 released its quarterly earnings results on Thursday, August 7th. The company reported $0.82 earnings per share (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 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 quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Research analysts expect that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Dividend Announcement

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

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