Wellington Management Group LLP Buys Shares of 17,452 Evergy Inc. $EVRG

Key Points

• Wellington Management Group LLP acquired 17,452 shares of Evergy Inc., valued at approximately $1.2 million, in the first quarter.
• Evergy reported a Q2 earnings per share of $0.82, exceeding analyst expectations of $0.78, although revenue was slightly down year-over-year.
• The company declared a $0.6675 quarterly dividend, representing an annual yield of 3.7%, with an ex-dividend date of August 22.

Wellington Management Group LLP acquired a new position in Evergy Inc. (NASDAQ:EVRG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,452 shares of the company's stock, valued at approximately $1,203,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new position in shares of Evergy in the 1st quarter valued at approximately $212,132,000. Northern Trust Corp lifted 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 buying an additional 392,361 shares during the period. Charles Schwab Investment Management Inc. lifted 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 buying an additional 13,555 shares during the period. Jennison Associates LLC boosted its holdings in shares of Evergy by 11.2% during the 1st quarter. Jennison Associates LLC now owns 1,730,849 shares of the company's stock valued at $119,342,000 after buying an additional 174,269 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of Evergy by 12.8% in the 4th quarter. Two Sigma Advisers LP now owns 1,417,100 shares of the company's stock worth $87,223,000 after buying an additional 161,000 shares during the period. Hedge funds and other institutional investors own 87.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EVRG shares. Citigroup lifted their price target on shares of Evergy from $77.00 to $79.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Wall Street Zen lowered shares of Evergy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. BMO Capital Markets started coverage on Evergy in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $75.00 price target on the stock. Jefferies Financial Group set a $78.00 price objective on Evergy and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, Mizuho lifted their price objective on Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $74.44.

Evergy Stock Performance

Shares of NASDAQ:EVRG traded down $0.07 during midday trading on Thursday, reaching $71.32. 1,656,381 shares of the company's stock traded hands, compared to its average volume of 2,317,647. Evergy Inc. has a one year low of $59.00 and a one year high of $73.97. The stock has a 50 day moving average of $70.60 and a 200 day moving average of $68.36. The company has a market cap of $16.42 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 3.11 and a beta of 0.58. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its 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. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.Evergy's revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. As a group, equities research analysts anticipate that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

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