VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Evergy Inc. $EVRG

Key Points

• Virginia Retirement Systems acquired 112,600 shares of Evergy Inc., valued at approximately $7.76 million, during the second quarter.
• Evergy reported a quarterly EPS of $0.82, exceeding estimates, and declared a dividend of $0.6675, resulting in an annualized yield of 3.4%.
• Analysts currently maintain a consensus rating of "Buy" for Evergy, with recent price targets ranging from $77.00 to $87.00.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 112,600 shares of the company's stock, valued at approximately $7,762,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Spirit of America Management Corp NY lifted its holdings in shares of Evergy by 23.1% during the 2nd quarter. Spirit of America Management Corp NY now owns 10,650 shares of the company's stock valued at $734,000 after buying an additional 2,000 shares during the period. Chevy Chase Trust Holdings LLC lifted its holdings in shares of Evergy by 0.9% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 121,690 shares of the company's stock valued at $8,388,000 after buying an additional 1,078 shares during the period. Oxbow Advisors LLC lifted its holdings in shares of Evergy by 3.8% during the 2nd quarter. Oxbow Advisors LLC now owns 47,066 shares of the company's stock valued at $3,244,000 after buying an additional 1,713 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Evergy by 4.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 710,266 shares of the company's stock valued at $48,959,000 after buying an additional 28,831 shares during the period. Finally, Ritholtz Wealth Management purchased a new stake in shares of Evergy in the 2nd quarter worth $293,000. 87.24% of the stock is owned by institutional investors.

Evergy Stock Up 0.9%

EVRG opened at $78.65 on Tuesday. The firm has a 50-day simple moving average of $73.73 and a two-hundred day simple moving average of $70.01. Evergy Inc. has a 52 week low of $59.23 and a 52 week high of $79.32. The company has a market capitalization of $18.10 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 3.61 and a beta of 0.57. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.82 EPS 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 during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The business's revenue was down .7% on a year-over-year basis. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Analysts forecast that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were issued a $0.6675 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.4%. Evergy's dividend payout ratio (DPR) is presently 73.35%.

Insider Activity at Evergy

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $72.33, for a total value of $578,640.00. Following the completion of the transaction, the senior vice president owned 499 shares of the company's stock, valued at approximately $36,092.67. This trade represents a 94.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.42% of the company's stock.

Analyst Ratings Changes

EVRG has been the subject of several analyst reports. Jefferies Financial Group upped their price objective on Evergy from $77.00 to $87.00 and gave the stock a "buy" rating in a research note on Thursday, October 9th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Evergy in a research note on Wednesday, October 8th. Mizuho increased their price target on Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Barclays reiterated an "outperform" rating on shares of Evergy in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat.com, Evergy presently has a consensus rating of "Buy" and an average target price of $78.07.

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.

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