Allspring Global Investments Holdings LLC Sells 9,125 Shares of Evergy Inc. $EVRG

Allspring Global Investments Holdings LLC lessened its holdings in Evergy Inc. (NASDAQ:EVRG) by 36.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,856 shares of the company’s stock after selling 9,125 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Evergy were worth $1,305,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. MidFirst Bank bought a new position in shares of Evergy in the fourth quarter valued at approximately $25,000. Harbor Capital Advisors Inc. bought a new stake in shares of Evergy in the 4th quarter worth $27,000. Prosperity Bancshares Inc bought a new stake in shares of Evergy in the 4th quarter worth $32,000. Triumph Capital Management raised its holdings in shares of Evergy by 104.8% in the fourth quarter. Triumph Capital Management now owns 508 shares of the company’s stock valued at $37,000 after purchasing an additional 260 shares during the last quarter. Finally, Transamerica Financial Advisors LLC raised its holdings in shares of Evergy by 163.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 529 shares of the company’s stock valued at $38,000 after purchasing an additional 328 shares during the last quarter. Institutional investors own 87.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Friday. Barclays lifted their target price on shares of Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. Wells Fargo & Company set a $87.00 target price on Evergy in a research note on Tuesday, April 21st. UBS Group increased their price target on Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded Evergy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Evergy has an average rating of “Moderate Buy” and a consensus price target of $90.60.

Evergy Stock Performance

NASDAQ EVRG opened at $87.18 on Monday. The company has a market capitalization of $20.10 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 2.26 and a beta of 0.54. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.24 and a current ratio of 0.45. Evergy Inc. has a 52-week low of $68.05 and a 52-week high of $88.62. The company has a 50-day simple moving average of $84.49 and a 200 day simple moving average of $81.73.

Evergy (NASDAQ:EVRG) last released its earnings results on Wednesday, May 6th. The company reported $0.69 earnings per share for the quarter, beating 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 firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, research analysts predict that Evergy Inc. will post 4.25 EPS for the current year.

Evergy Announces Dividend

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

Insider Activity at Evergy

In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $83.46, for a total transaction of $900,283.02. Following the completion of the transaction, the executive vice president directly owned 37,789 shares of the company’s stock, valued at approximately $3,153,869.94. This represents a 22.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sandra Aj Lawrence sold 761 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $83.31, for a total value of $63,398.91. Following the completion of the sale, the director owned 1,680 shares in the company, valued at approximately $139,960.80. The trade was a 31.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 12,748 shares of company stock worth $1,061,870. 1.52% of the stock is owned by company insiders.

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.