Hsbc Holdings PLC lessened its stake in shares of Evergy Inc. (NASDAQ:EVRG – Free Report) by 47.6% during the first quarter, HoldingsChannel reports. The firm owned 637,262 shares of the company’s stock after selling 577,946 shares during the period. Hsbc Holdings PLC’s holdings in Evergy were worth $52,175,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the stock. Brighton Jones LLC purchased a new position in Evergy in the 4th quarter worth approximately $257,000. United Services Automobile Association purchased a new stake in shares of Evergy during the first quarter valued at approximately $223,000. Empowered Funds LLC raised its stake in shares of Evergy by 19.5% during the first quarter. Empowered Funds LLC now owns 4,648 shares of the company’s stock valued at $320,000 after purchasing an additional 758 shares during the period. Woodline Partners LP lifted its position in shares of Evergy by 40.7% during the first quarter. Woodline Partners LP now owns 19,429 shares of the company’s stock worth $1,340,000 after purchasing an additional 5,618 shares in the last quarter. Finally, Focus Partners Wealth lifted its position in shares of Evergy by 7.3% during the first quarter. Focus Partners Wealth now owns 13,791 shares of the company’s stock worth $951,000 after purchasing an additional 939 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.
Insider Buying and Selling
In other news, EVP Charles A. Caisley sold 10,787 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $83.46, for a total value of $900,283.02. Following the completion of the sale, the executive vice president directly owned 37,789 shares in the company, valued at approximately $3,153,869.94. The trade was a 22.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 the company’s 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 sale, the director directly owned 680 shares in the company, valued at approximately $55,358.80. This represents a 46.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,748 shares of company stock valued at $1,061,870 over the last quarter. Company insiders own 1.52% of the company’s stock.
Evergy Stock Performance
Evergy (NASDAQ:EVRG – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. Evergy had a return on equity of 9.09% and a net margin of 14.63%.The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the company earned $0.54 earnings per share. Evergy’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts anticipate that Evergy Inc. will post 4.25 earnings per share for the current fiscal year.
Evergy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, May 22nd were issued a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, May 22nd. Evergy’s payout ratio is 73.74%.
Analyst Upgrades and Downgrades
EVRG has been the subject of several analyst reports. Bank of America decreased their target price on shares of Evergy from $89.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Wells Fargo & Company set a $87.00 price target on shares of Evergy in a research note on Tuesday, April 21st. Barclays upped their price objective on shares of Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. BTIG Research initiated coverage on Evergy in a research note on Thursday, April 9th. They set a “buy” rating and a $99.00 target price for the company. Finally, UBS Group lifted their target price on Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $90.10.
Check Out Our Latest Analysis on EVRG
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.
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