Federated Hermes Inc. Acquires 17,592 Shares of Evergy Inc. $EVRG

Federated Hermes Inc. grew its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,702,734 shares of the company’s stock after buying an additional 17,592 shares during the period. Federated Hermes Inc. owned 1.61% of Evergy worth $281,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Magellan Asset Management Ltd increased its holdings in Evergy by 1,418.7% in the 2nd quarter. Magellan Asset Management Ltd now owns 2,364,493 shares of the company’s stock valued at $162,985,000 after acquiring an additional 2,208,799 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Evergy by 346.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,046,787 shares of the company’s stock worth $155,597,000 after purchasing an additional 1,588,100 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Evergy by 969.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,329,424 shares of the company’s stock worth $101,063,000 after buying an additional 1,205,101 shares in the last quarter. Truist Financial Corp boosted its stake in Evergy by 169.2% during the third quarter. Truist Financial Corp now owns 1,438,958 shares of the company’s stock valued at $109,390,000 after buying an additional 904,400 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Evergy by 44.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,470,917 shares of the company’s stock valued at $170,320,000 after buying an additional 760,301 shares in the last quarter. Institutional investors own 87.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EVRG. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $91.00 price objective on shares of Evergy in a report on Friday. Wall Street Zen downgraded shares of Evergy from a “hold” rating to a “sell” rating in a research note on Monday, December 22nd. Mizuho reiterated a “neutral” rating and set a $76.00 price objective (down previously from $86.00) on shares of Evergy in a research report on Thursday, December 18th. Citigroup boosted their target price on shares of Evergy from $79.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Finally, Jefferies Financial Group increased their price target on shares of 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, seven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.63.

Evergy Stock Up 0.7%

NASDAQ:EVRG opened at $77.09 on Wednesday. The company has a market cap of $17.75 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 3.09 and a beta of 0.67. The company has a current ratio of 0.52, a quick ratio of 0.30 and a debt-to-equity ratio of 1.20. Evergy Inc. has a twelve month low of $61.94 and a twelve month high of $79.32. The stock has a fifty day simple moving average of $74.40 and a 200-day simple moving average of $73.97.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $2.24 billion. Evergy had a return on equity of 8.66% and a net margin of 14.45%.Evergy’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.02 EPS. Analysts anticipate that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, November 21st were issued a $0.695 dividend. The ex-dividend date was Friday, November 21st. This represents a $2.78 annualized dividend and a dividend yield of 3.6%. This is an increase from Evergy’s previous quarterly dividend of $0.67. Evergy’s dividend payout ratio (DPR) is presently 76.16%.

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.