Principal Financial Group Inc. cut its position in Evergy Inc. (NASDAQ:EVRG – Free Report) by 3.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 259,975 shares of the company’s stock after selling 9,068 shares during the period. Principal Financial Group Inc. owned about 0.11% of Evergy worth $21,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the company. MidFirst Bank purchased a new stake in Evergy in the 4th quarter worth $25,000. Harbor Capital Advisors Inc. purchased a new position in shares of Evergy in the fourth quarter valued at about $27,000. Prosperity Bancshares Inc bought a new position in shares of Evergy in the fourth quarter worth about $32,000. Triumph Capital Management boosted its stake in shares of Evergy by 104.8% in the fourth quarter. Triumph Capital Management now owns 508 shares of the company’s stock worth $37,000 after acquiring an additional 260 shares during the period. Finally, Transamerica Financial Advisors LLC raised its stake in Evergy by 163.2% during the 4th 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 period. Hedge funds and other institutional investors own 87.24% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Evergy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Barclays lifted their price target on shares of Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. 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 report on Friday, May 8th. Wells Fargo & Company set a $87.00 target price on Evergy in a research report on Tuesday, April 21st. Finally, Bank of America decreased their price target on shares of Evergy from $89.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Evergy has an average rating of “Moderate Buy” and an average target price of $90.10.
Insider Buying and Selling at Evergy
In related news, Director Sandra Aj Lawrence sold 600 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $81.41, for a total transaction of $48,846.00. Following the completion of the sale, the director directly owned 680 shares in the company, valued at $55,358.80. This represents a 46.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $83.46, for a total transaction of $900,283.02. Following the sale, the executive vice president directly owned 37,789 shares of the company’s stock, valued at approximately $3,153,869.94. The trade was a 22.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 12,748 shares of company stock worth $1,061,870 in the last ninety days. Insiders own 1.52% of the company’s stock.
Evergy Stock Down 0.3%
Shares of NASDAQ EVRG opened at $84.92 on Wednesday. The firm has a 50-day simple moving average of $84.19 and a two-hundred day simple moving average of $81.43. The company has a market cap of $19.58 billion, a P/E ratio of 22.53, a PEG ratio of 2.21 and a beta of 0.54. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.45 and a quick ratio of 0.24. Evergy Inc. has a 1 year low of $68.00 and a 1 year high of $88.62.
Evergy (NASDAQ:EVRG – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.06. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.27 billion. Evergy had a return on equity of 9.09% and a net margin of 14.63%.The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. Research analysts anticipate that Evergy Inc. will post 4.24 earnings per share for the current year.
Evergy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.695 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 3.3%. Evergy’s dividend payout ratio is currently 73.74%.
Evergy Company 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.
Read More
- Five stocks we like better than Evergy
- Confidence Is Back, But Earnings Show the Consumer Is Being Picky
- AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off
- 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative?
- 3 Photonics Companies Making Quantum Tech Possible
Receive News & Ratings for Evergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evergy and related companies with MarketBeat.com's FREE daily email newsletter.
