Evergy Inc. $EVRG Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada has reduced its stake in Evergy Inc. by 43.9%, now owning approximately 0.12% of the company worth $18.4 million.
• Several hedge funds have also adjusted their positions, with 87.24% of Evergy's stock currently owned by institutional investors.
• An array of analysts have set new price targets for Evergy, with a consensus target price of $74.44 and a majority rating it as a Buy.

Royal Bank of Canada cut its holdings in Evergy Inc. (NASDAQ:EVRG - Free Report) by 43.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 267,346 shares of the company's stock after selling 208,977 shares during the period. Royal Bank of Canada owned 0.12% of Evergy worth $18,435,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in EVRG. Bfsg LLC purchased a new stake in shares of Evergy during the 1st quarter valued at $25,000. Alpine Bank Wealth Management purchased a new stake in shares of Evergy during the 1st quarter valued at $32,000. Olde Wealth Management LLC purchased a new stake in shares of Evergy during the 1st quarter valued at $32,000. LRI Investments LLC purchased a new stake in shares of Evergy during the 1st quarter valued at $32,000. Finally, Clearstead Trust LLC purchased a new stake in shares of Evergy during the 1st quarter valued at $32,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Stock Up 0.3%

NASDAQ:EVRG traded up $0.22 on Friday, reaching $72.52. The stock had a trading volume of 1,206,827 shares, compared to its average volume of 1,912,977. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average of $70.94 and a 200 day moving average of $68.55. The stock has a market cap of $16.69 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 3.16 and a beta of 0.58. Evergy Inc. has a 12-month low of $59.00 and a 12-month high of $73.97.

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. The company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.45 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The firm's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. On average, research analysts predict that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

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

Analyst Ratings Changes

EVRG has been the subject of several research reports. Barclays lowered their price objective 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. Mizuho upped their price target 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. Wall Street Zen cut shares of Evergy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Jefferies Financial Group set a $78.00 price target on shares of Evergy and gave the stock a "buy" rating in a research report on Tuesday, June 10th. 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 equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average 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.