Park Avenue Securities LLC Purchases 10,068 Shares of Evergy Inc. $EVRG

Park Avenue Securities LLC lifted its position in Evergy Inc. (NASDAQ:EVRG) by 112.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 19,034 shares of the company’s stock after purchasing an additional 10,068 shares during the period. Park Avenue Securities LLC’s holdings in Evergy were worth $1,312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Amundi boosted its holdings in Evergy by 14.2% during the first quarter. Amundi now owns 140,301 shares of the company’s stock valued at $9,710,000 after acquiring an additional 17,477 shares during the period. Northern Trust Corp boosted its stake in Evergy by 16.7% during the 1st quarter. Northern Trust Corp now owns 2,737,480 shares of the company’s stock valued at $188,749,000 after purchasing an additional 392,361 shares during the period. Sowell Financial Services LLC acquired a new stake in Evergy in the 1st quarter valued at approximately $267,000. Integrity Alliance LLC. acquired a new stake in Evergy in the 1st quarter valued at approximately $319,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Evergy in the 4th quarter worth approximately $1,728,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Stock Down 0.3%

EVRG opened at $73.51 on Friday. The company has a market capitalization of $16.92 billion, a P/E ratio of 20.20, a P/E/G ratio of 3.22 and a beta of 0.58. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.50 and a quick ratio of 0.27. The firm’s fifty day moving average price is $71.63 and its two-hundred day moving average price is $68.86. Evergy Inc. has a fifty-two week low of $59.00 and a fifty-two week high of $74.57.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.45 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS. 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 business 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. 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 3.6%. Evergy’s dividend payout ratio is presently 73.35%.

Insider Activity

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $72.33, for a total transaction of $578,640.00. Following the completion of the transaction, the senior vice president owned 499 shares in the company, valued at $36,092.67. This trade represents a 94.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on EVRG shares. 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. Barclays reduced their price target on shares of Evergy from $73.00 to $71.00 and set an “overweight” rating for the company in a report on Friday, May 30th. Finally, Mizuho boosted their price objective on shares of Evergy from $74.00 to $77.00 and gave the stock an “outperform” rating in a report 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. According to MarketBeat, the company presently has an average rating of “Buy” and an average 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.