Strs Ohio Takes $2.69 Million Position in Evergy Inc. $EVRG

Key Points

• Strs Ohio acquired a new stake in Evergy Inc. valued at approximately $2.69 million, purchasing 39,060 shares in the company's stock.
• Analysts have mixed ratings for Evergy, with a consensus rating of "Buy" and an average price target of $74.44, while some firms have adjusted their price targets recently.
• Evergy declared a quarterly dividend of $0.6675 per share, yielding approximately 3.7%, with the dividend payout ratio currently at 73.35%.

Strs Ohio bought a new position in Evergy Inc. (NASDAQ:EVRG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 39,060 shares of the company's stock, valued at approximately $2,693,000.

A number of other hedge funds also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in shares of Evergy in the first quarter worth about $212,132,000. Northern Trust Corp raised its position in 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 purchasing an additional 392,361 shares during the period. Charles Schwab Investment Management Inc. raised its position in Evergy by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,174,047 shares of the company's stock valued at $149,901,000 after purchasing an additional 13,555 shares during the period. Jennison Associates LLC raised its position in Evergy by 11.2% during the first quarter. Jennison Associates LLC now owns 1,730,849 shares of the company's stock valued at $119,342,000 after purchasing an additional 174,269 shares during the period. Finally, AQR Capital Management LLC raised its position in Evergy by 27.7% during the first quarter. AQR Capital Management LLC now owns 1,482,508 shares of the company's stock valued at $101,715,000 after purchasing an additional 321,406 shares during the period. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Evergy news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $72.33, for a total transaction of $578,640.00. Following the completion of the sale, the senior vice president owned 499 shares of the company's stock, valued at approximately $36,092.67. The trade was a 94.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.42% of the stock is currently owned by company insiders.

Evergy Stock Up 1.4%

EVRG stock traded up $1.01 on Friday, hitting $72.29. 2,782,613 shares of the company's stock were exchanged, compared to its average volume of 1,868,421. Evergy Inc. has a 12-month low of $59.00 and a 12-month high of $73.97. The firm has a 50 day moving average price of $71.22 and a two-hundred day moving average price of $68.65. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50. The stock has a market cap of $16.64 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 3.12 and a beta of 0.58.

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

Evergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were paid a dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, August 22nd. Evergy's payout ratio is 73.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EVRG. Mizuho upped their price objective on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Jefferies Financial Group set a $78.00 price objective on Evergy and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, Barclays reduced their price objective on Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. One equities research 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 a consensus rating of "Buy" and a consensus price target of $74.44.

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.