Evergy Inc. $EVRG Shares Sold by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC lowered its position in shares of Evergy Inc. (NASDAQ:EVRG) by 5.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,016 shares of the company’s stock after selling 570 shares during the period. Integrated Wealth Concepts LLC’s holdings in Evergy were worth $691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Evergy during the 1st quarter worth approximately $212,132,000. Northern Trust Corp increased its stake in Evergy by 16.7% during the first quarter. Northern Trust Corp now owns 2,737,480 shares of the company’s stock worth $188,749,000 after acquiring an additional 392,361 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 worth $149,901,000 after acquiring an additional 13,555 shares during the last quarter. Jennison Associates LLC increased its stake in Evergy by 11.2% during the first quarter. Jennison Associates LLC now owns 1,730,849 shares of the company’s stock worth $119,342,000 after acquiring an additional 174,269 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Evergy by 27.7% during the first quarter. AQR Capital Management LLC now owns 1,482,508 shares of the company’s stock worth $101,715,000 after acquiring an additional 321,406 shares during the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Stock Performance

NASDAQ EVRG opened at $72.52 on Friday. The company has a market cap of $16.69 billion, a P/E ratio of 19.92, a P/E/G ratio of 3.16 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 stock has a 50-day moving average of $70.94 and a two-hundred day moving average of $68.55. Evergy Inc. has a 1-year low of $59.00 and a 1-year high of $73.97.

Evergy (NASDAQ:EVRG) last posted 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 analyst estimates of $1.45 billion. During the same quarter last year, the firm posted $0.90 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. As a group, analysts anticipate that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be given a $0.6675 dividend. This represents a $2.67 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, August 22nd. Evergy’s dividend payout ratio (DPR) is currently 73.35%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EVRG. Citigroup raised their price objective on Evergy from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Barclays cut their price objective on Evergy from $73.00 to $71.00 and set an “overweight” rating for the company in a research report on Friday, May 30th. Wall Street Zen cut shares of Evergy from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Mizuho lifted their price target on shares of Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, Jefferies Financial Group set a $78.00 price target on shares of Evergy and gave the company a “buy” rating in a research report on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to MarketBeat.com, Evergy currently has a consensus rating of “Buy” and an average price target 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.