Oppenheimer Asset Management Inc. Cuts Stake in Evergy Inc. $EVRG

Oppenheimer Asset Management Inc. lowered its holdings in shares of Evergy Inc. (NASDAQ:EVRG) by 4.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 190,524 shares of the company’s stock after selling 9,821 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Evergy were worth $13,133,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Nuveen LLC purchased a new stake in shares of Evergy during the first quarter worth about $212,132,000. Northern Trust Corp grew its holdings 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 buying an additional 392,361 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Evergy by 0.6% during the 1st 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 in the last quarter. Jennison Associates LLC grew its holdings in 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, AQR Capital Management LLC grew its holdings in Evergy by 27.7% during the 1st quarter. AQR Capital Management LLC now owns 1,482,508 shares of the company’s stock valued at $101,715,000 after buying an additional 321,406 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

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 sale, the senior vice president directly owned 499 shares of the company’s stock, valued at approximately $36,092.67. This trade represents a 94.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.42% of the company’s stock.

Evergy Price Performance

Shares of Evergy stock opened at $77.96 on Monday. The stock has a market cap of $17.94 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 3.60 and a beta of 0.57. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50. The stock has a 50 day moving average price of $74.17 and a 200-day moving average price of $70.38. Evergy Inc. has a one year low of $59.23 and a one year high of $79.32.

Evergy (NASDAQ:EVRG) last announced its earnings results on Thursday, August 7th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Equities analysts expect that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were paid a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Evergy’s dividend payout ratio (DPR) is currently 73.35%.

Wall Street Analyst Weigh In

Several research firms have weighed in on EVRG. Mizuho raised their price target on Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Evergy in a report on Saturday. Barclays restated an “outperform” rating on shares of Evergy in a report on Thursday, October 9th. Finally, Jefferies Financial Group raised their price target on Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, October 9th. One 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, the company presently has an average rating of “Buy” and a consensus target price of $78.07.

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.