Sound Income Strategies LLC Sells 35,837 Shares of Evergy Inc. $EVRG

Sound Income Strategies LLC decreased its position in Evergy Inc. (NASDAQ:EVRG) by 16.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 184,426 shares of the company’s stock after selling 35,837 shares during the quarter. Sound Income Strategies LLC’s holdings in Evergy were worth $14,098,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Sowell Financial Services LLC lifted its position in Evergy by 4.3% in the 4th quarter. Sowell Financial Services LLC now owns 4,086 shares of the company’s stock worth $296,000 after buying an additional 168 shares during the last quarter. TOWER TRUST & INVESTMENT Co bought a new stake in Evergy in the 4th quarter worth approximately $42,000. Signaturefd LLC lifted its position in Evergy by 9.6% in the 4th quarter. Signaturefd LLC now owns 7,635 shares of the company’s stock worth $553,000 after buying an additional 669 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Evergy in the 4th quarter worth approximately $27,000. Finally, Blue Trust Inc. lifted its position in Evergy by 12.9% in the 4th quarter. Blue Trust Inc. now owns 1,418 shares of the company’s stock worth $103,000 after buying an additional 162 shares during the last quarter. Institutional investors own 87.24% of the company’s stock.

Evergy Stock Performance

Shares of EVRG stock opened at $82.65 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.27 and a current ratio of 0.49. Evergy Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $85.23. The stock has a 50 day moving average price of $80.81 and a two-hundred day moving average price of $77.31. The company has a market capitalization of $19.03 billion, a P/E ratio of 22.52, a PEG ratio of 2.15 and a beta of 0.61.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Saturday, January 31st. The company reported $0.42 earnings per share for the quarter. Evergy had a return on equity of 8.79% and a net margin of 14.35%. Analysts expect that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 10th were issued a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Tuesday, March 10th. Evergy’s dividend payout ratio is currently 75.75%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EVRG shares. Barclays boosted their price objective on Evergy from $82.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, March 9th. Wall Street Zen upgraded Evergy from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $91.00 price objective on shares of Evergy in a research report on Friday, January 23rd. BMO Capital Markets boosted their price objective on Evergy from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Evergy in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.75.

Insider Activity at Evergy

In related news, SVP Charles L. King sold 2,440 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $82.19, for a total transaction of $200,543.60. Following the completion of the transaction, the senior vice president owned 18,359 shares in the company, valued at $1,508,926.21. This represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann D. Murtlow sold 2,847 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $82.34, for a total value of $234,421.98. Following the transaction, the director owned 2,311 shares of the company’s stock, valued at approximately $190,287.74. This represents a 55.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 8,937 shares of company stock worth $736,492 over the last quarter. 1.42% of the stock is owned by corporate insiders.

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.