IFM Investors Pty Ltd Boosts Position in Evergy Inc. $EVRG

IFM Investors Pty Ltd increased its stake in Evergy Inc. (NASDAQ:EVRG) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,834 shares of the company’s stock after buying an additional 2,465 shares during the period. IFM Investors Pty Ltd’s holdings in Evergy were worth $3,366,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in EVRG. Nuveen LLC purchased a new position in Evergy in the 1st quarter worth about $212,132,000. GAMMA Investing LLC increased its position in Evergy by 8,154.8% during the 1st quarter. GAMMA Investing LLC now owns 973,574 shares of the company’s stock valued at $67,128,000 after purchasing an additional 961,780 shares during the period. Maple Brown Abbott Ltd purchased a new position in Evergy during the 1st quarter valued at about $63,444,000. Vaughan Nelson Investment Management L.P. purchased a new position in Evergy during the 1st quarter valued at about $40,285,000. Finally, Northern Trust Corp increased its position 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. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Stock Performance

EVRG opened at $72.22 on Tuesday. Evergy Inc. has a 12-month low of $59.00 and a 12-month high of $73.97. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $16.62 billion, a PE ratio of 19.84, a P/E/G ratio of 3.16 and a beta of 0.58. The firm has a 50 day moving average of $71.29 and a two-hundred day moving average of $68.73.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the firm posted $0.90 EPS. Evergy’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. On average, analysts anticipate that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

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 dividend of $0.6675 per share. This represents a $2.67 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, August 22nd. Evergy’s payout ratio is 73.35%.

Wall Street Analyst Weigh In

EVRG has been the topic of a number of research reports. Mizuho raised their target price 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. Barclays cut their target price on shares of Evergy from $73.00 to $71.00 and set an “overweight” rating on the stock in a research report on Friday, May 30th. Finally, Jefferies Financial Group set a $78.00 target price on shares of Evergy and gave the company a “buy” rating in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $74.44.

Insider Buying and Selling at Evergy

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 transaction of $578,640.00. Following the completion of the transaction, the senior vice president directly owned 499 shares of the company’s stock, valued at $36,092.67. The trade was a 94.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.42% of the stock is currently owned by company 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.