T. Rowe Price Investment Management Inc. Acquires 8,998 Shares of Evergy Inc. $EVRG

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Evergy Inc. by 160.4% during the first quarter, acquiring an additional 8,998 shares for a total of 14,607 shares, valued at approximately $1,008,000.
• Evergy reported earnings of $0.82 per share for its latest quarter, exceeding estimates, although its revenue for the period declined 0.7% year-over-year.
• The company announced a quarterly dividend of $0.6675 per share, representing an annual yield of 3.7% with a payout ratio of 73.35%.

T. Rowe Price Investment Management Inc. grew its holdings in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 160.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,607 shares of the company's stock after acquiring an additional 8,998 shares during the quarter. T. Rowe Price Investment Management Inc.'s holdings in Evergy were worth $1,008,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in EVRG. Bfsg LLC purchased a new position in shares of Evergy during the first quarter worth approximately $25,000. Colonial Trust Co SC purchased a new position in shares of Evergy in the fourth quarter worth $32,000. Alpine Bank Wealth Management purchased a new position in shares of Evergy in the first quarter worth $32,000. Olde Wealth Management LLC purchased a new position in shares of Evergy in the first quarter worth $32,000. Finally, LRI Investments LLC purchased a new position in shares of Evergy in the first quarter worth $32,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EVRG has been the topic of several analyst reports. Barclays decreased their target price on shares of Evergy from $73.00 to $71.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Citigroup lifted their target price on shares of Evergy from $77.00 to $79.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Mizuho lifted their target price on shares of Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Wall Street Zen downgraded shares of Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group set a $78.00 target price on shares of Evergy and gave the stock a "buy" rating in a research note on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to MarketBeat.com, Evergy has an average rating of "Buy" and a consensus price target of $74.44.

Evergy Trading Down 1.2%

NASDAQ:EVRG traded down $0.85 during trading hours on Thursday, hitting $71.21. The company had a trading volume of 1,664,784 shares, compared to its average volume of 2,328,582. The company has a market capitalization of $16.39 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 3.14 and a beta of 0.48. The stock has a 50-day moving average price of $70.26 and a 200 day moving average price of $68.19. Evergy Inc. has a 52 week low of $58.25 and a 52 week high of $73.97. 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 for the quarter, beating the consensus estimate of $0.78 by $0.04. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter in the previous year, the business posted $0.90 earnings per share. The firm's revenue for the quarter was down .7% compared to the same quarter last year. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. On average, equities research analysts predict that Evergy Inc. will post 3.83 EPS 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 issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, August 22nd. 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.