Corient Private Wealth LP bought a new position in shares of Evergy Inc. (NASDAQ:EVRG – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 69,726 shares of the company’s stock, valued at approximately $6,026,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of Nova Scotia acquired a new stake in Evergy in the second quarter valued at $3,569,000. Cullen Frost Bankers Inc. increased its holdings in shares of Evergy by 4.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 316,511 shares of the company’s stock valued at $22,944,000 after acquiring an additional 14,907 shares during the last quarter. Greenland Capital Management LP purchased a new position in shares of Evergy in the 2nd quarter valued at about $8,230,000. Vestcor Inc raised its position in shares of Evergy by 49.6% during the 4th quarter. Vestcor Inc now owns 174,330 shares of the company’s stock worth $12,637,000 after acquiring an additional 57,795 shares in the last quarter. Finally, Qsemble Capital Management LP raised its position in shares of Evergy by 295.4% during the 4th quarter. Qsemble Capital Management LP now owns 105,780 shares of the company’s stock worth $7,668,000 after acquiring an additional 79,029 shares in the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.
Insider Activity at Evergy
In related news, EVP Charles A. Caisley sold 10,787 shares of the company’s stock in a transaction on Monday, June 15th. The shares were 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 owned 37,789 shares in the company, valued at $3,153,869.94. This represents a 22.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.52% of the stock is owned by insiders.
Evergy Stock Up 0.5%
Evergy (NASDAQ:EVRG – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.36 billion. Evergy had a return on equity of 9.20% and a net margin of 15.19%.During the same quarter last year, the business posted $0.82 EPS. Equities research analysts expect that Evergy Inc. will post 4.25 earnings per share for the current year.
Evergy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.695 per share. The ex-dividend date is Tuesday, August 18th. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. Evergy’s dividend payout ratio (DPR) is 70.56%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. BMO Capital Markets boosted their target price on Evergy from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. UBS Group increased their price target on shares of Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Evergy in a report on Friday, August 7th. Citigroup boosted their price objective on shares of Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, BTIG Research set a $97.00 target price on shares of Evergy in a report on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Evergy currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.60.
Read Our Latest Report on EVRG
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.
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