Public Employees Retirement System of Ohio Takes Position in Evergy Inc. $EVRG

Public Employees Retirement System of Ohio acquired a new position in shares of Evergy Inc. (NASDAQ:EVRG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 71,308 shares of the company’s stock, valued at approximately $6,163,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EVRG. MidFirst Bank purchased a new stake in Evergy during the fourth quarter valued at about $25,000. Knuff & Co LLC purchased a new position in shares of Evergy in the 2nd quarter worth about $30,000. Burk Holdings LLC purchased a new position in shares of Evergy in the 2nd quarter worth about $31,000. Prosperity Bancshares Inc bought a new position in shares of Evergy during the 4th quarter valued at about $32,000. Finally, Clearstead Trust LLC purchased a new position in shares of Evergy during the 2nd quarter valued at about $33,000. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EVRG has been the subject of several research reports. Citigroup upped their target price on Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Evergy in a research note on Friday, August 7th. Barclays boosted their price objective on shares of Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. UBS Group upped their price objective on shares of Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, BTIG Research set a $97.00 target price on shares of Evergy in a report on Thursday, July 23rd. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Evergy currently has an average rating of “Moderate Buy” and a consensus price target of $90.60.

Evergy Trading Up 0.6%

Shares of EVRG stock opened at $81.52 on Wednesday. The business has a 50-day moving average of $84.50 and a 200 day moving average of $83.04. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.36 and a quick ratio of 0.21. Evergy Inc. has a 1-year low of $70.42 and a 1-year high of $88.62. The stock has a market capitalization of $18.80 billion, a PE ratio of 20.69, a P/E/G ratio of 2.10 and a beta of 0.53.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Evergy had a return on equity of 9.20% and a net margin of 15.19%.During the same period in the previous year, the firm earned $0.82 EPS. As a group, sell-side analysts anticipate that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, August 18th will be paid a $0.695 dividend. This represents a $2.78 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Evergy’s payout ratio is presently 70.56%.

Insider Buying and Selling

In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $83.46, for a total transaction of $900,283.02. Following the completion of the sale, the executive vice president owned 37,789 shares of the company’s stock, valued at $3,153,869.94. This represents a 22.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.52% of the stock is owned by corporate insiders.

Evergy Company Profile

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.