Evergy Inc. $EVRG Shares Acquired by 44 Wealth Management LLC

44 Wealth Management LLC boosted its holdings in Evergy Inc. (NASDAQ:EVRG) by 96.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,064 shares of the company’s stock after purchasing an additional 6,425 shares during the quarter. 44 Wealth Management LLC’s holdings in Evergy were worth $1,070,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in EVRG. Adage Capital Partners GP L.L.C. grew its holdings in Evergy by 476.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,207,882 shares of the company’s stock valued at $87,559,000 after purchasing an additional 998,400 shares during the period. Freestone Grove Partners LP grew its position in Evergy by 321.1% during the fourth quarter. Freestone Grove Partners LP now owns 854,739 shares of the company’s stock valued at $61,960,000 after acquiring an additional 651,738 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Evergy by 122.4% in the 4th quarter. Renaissance Technologies LLC now owns 811,202 shares of the company’s stock valued at $58,804,000 after purchasing an additional 446,400 shares in the last quarter. BROOKFIELD Corp ON purchased a new stake in shares of Evergy during the 2nd quarter worth about $29,644,000. Finally, Zimmer Partners LP grew its holdings in shares of Evergy by 147.8% during the 4th quarter. Zimmer Partners LP now owns 137,500 shares of the company’s stock worth $9,967,000 after purchasing an additional 425,000 shares during the period. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on EVRG shares. Bank of America cut their price target on shares of Evergy from $89.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. BTIG Research set a $97.00 price target on Evergy in a research report on Thursday. Weiss Ratings upgraded Evergy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. UBS Group increased their price objective on shares of Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Citigroup lifted their price objective on shares of Evergy from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Friday. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Evergy currently has an average rating of “Moderate Buy” and an average target price of $90.60.

Evergy Stock Performance

Shares of EVRG opened at $87.18 on Friday. The firm has a market cap of $20.10 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 2.26 and a beta of 0.54. The company has a quick ratio of 0.24, a current ratio of 0.45 and a debt-to-equity ratio of 1.29. The business’s 50 day moving average is $84.49 and its two-hundred day moving average is $81.66. Evergy Inc. has a 52-week low of $68.05 and a 52-week high of $88.62.

Evergy (NASDAQ:EVRG) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. Evergy had a net margin of 14.63% and a return on equity of 9.09%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the company earned $0.54 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts forecast that Evergy Inc. will post 4.25 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, May 22nd were paid a dividend of $0.695 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.78 annualized dividend and a yield of 3.2%. Evergy’s payout ratio is presently 73.74%.

Insider Transactions at Evergy

In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $83.46, for a total value of $900,283.02. Following the transaction, the executive vice president owned 37,789 shares of the company’s stock, valued at $3,153,869.94. This trade represents a 22.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sandra Aj Lawrence sold 600 shares of Evergy stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $81.41, for a total value of $48,846.00. Following the completion of the transaction, the director owned 680 shares of the company’s stock, valued at approximately $55,358.80. The trade was a 46.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 12,748 shares of company stock valued at $1,061,870. Insiders own 1.52% of the company’s stock.

Evergy 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.