Vident Advisory LLC Grows Holdings in Evergy Inc. $EVRG

Key Points

• Vident Advisory LLC has increased its holdings in Evergy Inc. by 135% during the first quarter, acquiring an additional 9,409 shares, bringing its total to 16,380 shares valued at approximately $1.13 million.
• Evergy reported earnings of $0.82 per share for the last quarter, exceeding expectations, but revenue declined slightly year-over-year, amounting to $1.43 billion.
• The company announced a quarterly dividend of $0.6675, providing an annual yield of 3.7%, with a dividend payout ratio of 73.35%.

Vident Advisory LLC increased its stake in Evergy Inc. (NASDAQ:EVRG - Free Report) by 135.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,380 shares of the company's stock after acquiring an additional 9,409 shares during the period. Vident Advisory LLC's holdings in Evergy were worth $1,130,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of EVRG. Brighton Jones LLC acquired a new position in shares of Evergy in the 4th quarter worth approximately $257,000. AXA S.A. increased its stake in Evergy by 166.6% in the fourth quarter. AXA S.A. now owns 96,443 shares of the company's stock worth $5,936,000 after purchasing an additional 60,272 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Evergy by 5.1% during the fourth quarter. Ameriprise Financial Inc. now owns 295,489 shares of the company's stock worth $18,166,000 after purchasing an additional 14,273 shares during the period. Baird Financial Group Inc. increased its position in shares of Evergy by 19.1% during the fourth quarter. Baird Financial Group Inc. now owns 42,157 shares of the company's stock worth $2,595,000 after purchasing an additional 6,768 shares in the last quarter. Finally, BOKF NA raised its position in Evergy by 5.4% in the 4th quarter. BOKF NA now owns 24,616 shares of the company's stock valued at $1,474,000 after purchasing an additional 1,267 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Stock Down 1.6%

Shares of EVRG traded down $1.12 during midday trading on Monday, hitting $70.48. The stock had a trading volume of 726,342 shares, compared to its average volume of 2,320,146. Evergy Inc. has a twelve month low of $59.00 and a twelve month high of $73.97. The firm has a market cap of $16.22 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 3.13 and a beta of 0.58. The company has a 50 day simple moving average of $70.73 and a two-hundred day simple moving average of $68.44. 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 issued 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. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the business posted $0.90 EPS. The business's revenue 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, analysts anticipate that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be paid a $0.6675 dividend. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, August 22nd. Evergy's dividend payout ratio (DPR) is presently 73.35%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Jefferies Financial Group set a $78.00 price objective on Evergy and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Citigroup increased 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. 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 target on the stock. Mizuho raised their price objective on shares of Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Wall Street Zen lowered shares of Evergy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $74.44.

About Evergy

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.