Pensionfund Sabic Makes New Investment in Evergy Inc. $EVRG

Pensionfund Sabic bought a new stake in shares of Evergy Inc. (NASDAQ:EVRG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 16,900 shares of the company’s stock, valued at approximately $1,225,000.

A number of other institutional investors and hedge funds have also made changes to their positions in EVRG. Brighton Jones LLC bought a new stake in shares of Evergy in the 4th quarter worth approximately $257,000. United Services Automobile Association bought a new position in Evergy during the 1st quarter worth $223,000. Empowered Funds LLC increased its position in Evergy by 19.5% in the first quarter. Empowered Funds LLC now owns 4,648 shares of the company’s stock worth $320,000 after buying an additional 758 shares during the period. Woodline Partners LP increased its position in Evergy by 40.7% in the first quarter. Woodline Partners LP now owns 19,429 shares of the company’s stock worth $1,340,000 after buying an additional 5,618 shares during the period. Finally, Focus Partners Wealth lifted its stake in Evergy by 7.3% in the first quarter. Focus Partners Wealth now owns 13,791 shares of the company’s stock valued at $951,000 after buying an additional 939 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Price Performance

Shares of NASDAQ:EVRG opened at $79.93 on Wednesday. Evergy Inc. has a 12 month low of $61.94 and a 12 month high of $85.23. The stock has a market cap of $18.41 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 2.05 and a beta of 0.65. The stock’s 50 day moving average price is $79.82 and its 200 day moving average price is $76.67. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.49 and a quick ratio of 0.27.

Evergy (NASDAQ:EVRG) last issued its quarterly 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 research analysts anticipate that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th were issued a $0.695 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $2.78 annualized dividend and a dividend yield of 3.5%. Evergy’s dividend payout ratio is 75.75%.

Insider Activity at Evergy

In other Evergy news, SVP Heather A. Humphrey sold 3,650 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $82.61, for a total value of $301,526.50. Following the sale, the senior vice president directly owned 44,007 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Charles L. King sold 2,440 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $82.19, for a total transaction of $200,543.60. Following the completion of the sale, the senior vice president directly owned 18,359 shares of the company’s stock, valued at $1,508,926.21. The trade was a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,937 shares of company stock valued at $736,492 over the last 90 days. 1.42% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EVRG. Wells Fargo & Company boosted their price target on shares of Evergy from $79.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, February 20th. Wall Street Zen upgraded shares of Evergy from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Evergy in a research note on Monday, December 29th. UBS Group cut shares of Evergy from a “buy” rating to a “neutral” rating and upped their target price for the stock from $86.00 to $88.00 in a research report on Friday, February 13th. Finally, BMO Capital Markets raised their price target on shares of Evergy from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Evergy has an average 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.