Evergy Inc. $EVRG Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its holdings in Evergy Inc. (NASDAQ:EVRG) by 12.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 481,685 shares of the company’s stock after selling 68,935 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.21% of Evergy worth $36,618,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CIBC Bancorp USA Inc. acquired a new position in shares of Evergy in the 3rd quarter worth approximately $3,173,000. Coldstream Capital Management Inc. boosted its holdings in Evergy by 12.3% during the third quarter. Coldstream Capital Management Inc. now owns 7,472 shares of the company’s stock worth $568,000 after buying an additional 818 shares in the last quarter. Danske Bank A S bought a new stake in Evergy during the third quarter worth approximately $304,000. Advisory Services Network LLC grew its position in Evergy by 43.0% in the third quarter. Advisory Services Network LLC now owns 26,921 shares of the company’s stock worth $2,047,000 after buying an additional 8,100 shares during the last quarter. Finally, Fulcrum Asset Management LLP grew its position in Evergy by 105.4% in the third quarter. Fulcrum Asset Management LLP now owns 11,126 shares of the company’s stock worth $846,000 after buying an additional 5,708 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Price Performance

Shares of NASDAQ:EVRG opened at $81.06 on Friday. The company’s fifty day moving average is $79.46 and its two-hundred day moving average is $76.44. The company has a quick ratio of 0.27, a current ratio of 0.49 and a debt-to-equity ratio of 1.27. Evergy Inc. has a 12-month low of $61.94 and a 12-month high of $85.23. The company has a market cap of $18.67 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 2.11 and a beta of 0.65.

Evergy (NASDAQ:EVRG) last released its earnings results on Saturday, January 31st. The company reported $0.42 earnings per share (EPS) for the quarter. Evergy had a return on equity of 8.79% and a net margin of 14.35%. Equities analysts expect that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.695 per share. The ex-dividend date is Tuesday, March 10th. This represents a $2.78 dividend on an annualized basis and a yield of 3.4%. Evergy’s dividend payout ratio (DPR) is presently 75.75%.

Insider Buying and Selling at Evergy

In related news, SVP Heather A. Humphrey sold 3,650 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $82.61, for a total transaction of $301,526.50. Following the transaction, the senior vice president directly owned 44,007 shares of the company’s stock, valued at approximately $3,635,418.27. The trade was a 7.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ann D. Murtlow sold 2,847 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $82.34, for a total transaction of $234,421.98. Following the completion of the transaction, the director owned 2,311 shares in the company, valued at approximately $190,287.74. This represents a 55.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,937 shares of company stock valued at $736,492 in the last 90 days. 1.42% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EVRG shares. Mizuho set a $82.00 price objective on Evergy in a research report on Monday, February 23rd. Wall Street Zen upgraded Evergy from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. UBS Group lowered Evergy from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $86.00 to $88.00 in a research report on Friday, February 13th. BMO Capital Markets upped their target price on Evergy from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Monday, February 23rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $91.00 price target on shares of Evergy in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.75.

About Evergy

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.