Evergy Inc. $EVRG Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D has decreased its ownership in Evergy Inc. by 10.6%, now holding 59,864 shares valued at approximately $4.1 million.
• Evergy recently reported earnings of $0.82 per share, surpassing expectations, while quarterly revenue totaled $1.43 billion, slightly lower than predicted.
• The company declared a quarterly dividend of $0.6675 per share, representing a yield of 3.7%, with an ex-dividend date set for August 22nd.

State of New Jersey Common Pension Fund D lessened its position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 10.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,864 shares of the company's stock after selling 7,109 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Evergy were worth $4,128,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sowell Financial Services LLC acquired a new position in Evergy in the 1st quarter valued at about $267,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Evergy in the 4th quarter valued at about $1,728,000. Kestra Private Wealth Services LLC raised its stake in Evergy by 9.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 4,562 shares of the company's stock valued at $315,000 after purchasing an additional 396 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Evergy by 59.8% in the 1st quarter. Russell Investments Group Ltd. now owns 533,671 shares of the company's stock valued at $36,792,000 after purchasing an additional 199,697 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in Evergy by 26.6% in the 1st quarter. HighTower Advisors LLC now owns 124,115 shares of the company's stock valued at $8,558,000 after purchasing an additional 26,086 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on EVRG shares. Barclays cut their target price 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. Wall Street Zen downgraded shares of Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Jefferies Financial Group set a $78.00 target price on shares of Evergy and gave the company a "buy" rating in a research note on Tuesday, June 10th. LADENBURG THALM/SH SH raised shares of Evergy to a "strong-buy" rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets initiated coverage on shares of Evergy in a research note on Tuesday, May 13th. They set an "outperform" rating and a $75.00 price objective for the company. 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 stock has an average rating of "Buy" and an average target price of $74.44.

Evergy Trading Down 0.3%

Shares of NASDAQ:EVRG traded down $0.24 during trading on Friday, reaching $72.30. 1,116,983 shares of the stock were exchanged, compared to its average volume of 2,408,751. The firm has a market cap of $16.64 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 3.17 and a beta of 0.48. Evergy Inc. has a 12-month low of $58.25 and a 12-month high of $73.97. The firm's 50-day moving average price is $69.97 and its 200 day moving average price is $68.05. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50.

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

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, August 22nd. Evergy's dividend 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.