Evergy Inc. $EVRG Shares Bought by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC increased its stake in Evergy Inc. by 21.3%, now owning 232,130 shares valued at approximately $16 million.
• Evergy recently reported earnings per share of $0.82, surpassing estimates, and set a fiscal year 2025 EPS guidance of 3.920-4.120.
• The company declared a quarterly dividend of $0.6675 per share, yielding about 3.7%, with a notable dividend payout ratio of 73.35%.

Wedge Capital Management L L P NC raised its holdings in Evergy Inc. (NASDAQ:EVRG - Free Report) by 21.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 232,130 shares of the company's stock after purchasing an additional 40,777 shares during the quarter. Wedge Capital Management L L P NC owned 0.10% of Evergy worth $16,001,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Horizon Investments LLC increased its stake in shares of Evergy by 4.9% in the first quarter. Horizon Investments LLC now owns 3,353 shares of the company's stock worth $231,000 after acquiring an additional 158 shares during the last quarter. Stolper Co lifted its position in Evergy by 0.5% in the 1st quarter. Stolper Co now owns 34,630 shares of the company's stock valued at $2,388,000 after acquiring an additional 169 shares in the last quarter. Retirement Planning Group LLC lifted its position in Evergy by 0.9% in the 4th quarter. Retirement Planning Group LLC now owns 24,372 shares of the company's stock valued at $1,500,000 after acquiring an additional 210 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Evergy by 4.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,944 shares of the company's stock valued at $341,000 after buying an additional 210 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Evergy by 6.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,905 shares of the company's stock valued at $269,000 after buying an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company's stock.

Wall Street Analyst Weigh In

EVRG has been the topic of several recent analyst reports. Jefferies Financial Group set a $78.00 price objective on shares of Evergy and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Mizuho lifted their price objective on Evergy from $74.00 to $77.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Barclays lowered their target price on shares of 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 assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Evergy presently has an average rating of "Buy" and a consensus target price of $74.44.

Evergy Price Performance

Shares of NASDAQ EVRG traded up $1.01 during mid-day trading on Friday, reaching $72.29. 2,782,613 shares of the company were exchanged, compared to its average volume of 1,951,702. The stock has a market capitalization of $16.64 billion, a PE ratio of 19.86, a PEG ratio of 3.16 and a beta of 0.58. The company's 50 day moving average price is $71.22 and its 200 day moving average price is $68.69. Evergy Inc. has a 52 week low of $59.00 and a 52 week high of $73.97. 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.04. The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.45 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The company's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 earnings per share. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Sell-side analysts forecast that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

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

Insiders Place Their Bets

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $72.33, for a total value of $578,640.00. Following the transaction, the senior vice president owned 499 shares of the company's stock, valued at $36,092.67. The trade was a 94.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.42% of the stock is owned by insiders.

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.