New York Life Investment Management LLC Increases Stake in Evergy Inc. $EVRG

New York Life Investment Management LLC boosted its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 3.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,756 shares of the company’s stock after acquiring an additional 1,128 shares during the quarter. New York Life Investment Management LLC’s holdings in Evergy were worth $2,189,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. LRI Investments LLC purchased a new position in Evergy during the first quarter valued at approximately $32,000. Clearstead Trust LLC acquired a new stake in Evergy in the first quarter valued at approximately $32,000. Olde Wealth Management LLC acquired a new stake in Evergy in the first quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC acquired a new stake in Evergy in the first quarter valued at approximately $34,000. Finally, Investment Management Corp VA ADV grew its holdings in Evergy by 168.4% in the first quarter. Investment Management Corp VA ADV now owns 569 shares of the company’s stock valued at $39,000 after purchasing an additional 357 shares during the period. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy 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 transaction, the senior vice president owned 499 shares in the company, valued at approximately $36,092.67. This trade represents a 94.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on EVRG. Barclays reissued an “outperform” rating on shares of Evergy in a report on Thursday, October 9th. Royal Bank Of Canada raised Evergy to a “moderate buy” rating in a report on Tuesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Evergy in a report on Wednesday, October 8th. Mizuho raised their price objective on Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Wells Fargo & Company raised Evergy to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Evergy currently has an average rating of “Buy” and an average price target of $79.61.

Evergy Stock Performance

Shares of NASDAQ:EVRG opened at $76.81 on Friday. 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 business’s 50 day moving average price is $74.70 and its 200-day moving average price is $70.75. The firm has a market capitalization of $17.68 billion, a PE ratio of 21.10, a P/E/G ratio of 3.56 and a beta of 0.57. Evergy Inc. has a 1 year low of $59.23 and a 1 year high of $79.32.

Evergy (NASDAQ:EVRG) last issued 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. The firm had revenue of $1.43 billion for 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%.The business’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. As a group, equities research analysts expect that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were given a dividend of $0.6675 per share. The ex-dividend date was Friday, August 22nd. This represents a $2.67 dividend on an annualized basis and a yield of 3.5%. Evergy’s dividend payout ratio (DPR) is presently 73.35%.

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.