Wealthfront Advisers LLC Acquires 8,503 Shares of Evergy Inc. $EVRG

Wealthfront Advisers LLC boosted its holdings in shares of Evergy Inc. (NASDAQ:EVRG) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 162,656 shares of the company’s stock after acquiring an additional 8,503 shares during the quarter. Wealthfront Advisers LLC owned 0.07% of Evergy worth $13,325,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. lifted its position in shares of Evergy by 476.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,207,882 shares of the company’s stock worth $87,559,000 after purchasing an additional 998,400 shares during the last quarter. Freestone Grove Partners LP grew its holdings in shares of Evergy by 321.1% in the fourth quarter. Freestone Grove Partners LP now owns 854,739 shares of the company’s stock worth $61,960,000 after purchasing an additional 651,738 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Evergy by 122.4% in the fourth quarter. Renaissance Technologies LLC now owns 811,202 shares of the company’s stock worth $58,804,000 after purchasing an additional 446,400 shares during the last quarter. BROOKFIELD Corp ON purchased a new position in Evergy in the 2nd quarter worth about $29,644,000. Finally, Zimmer Partners LP increased its stake in Evergy by 147.8% in the 4th quarter. Zimmer Partners LP now owns 137,500 shares of the company’s stock worth $9,967,000 after buying an additional 425,000 shares during the period. Institutional investors own 87.24% of the company’s stock.

Analysts Set New Price Targets

EVRG has been the subject of several research reports. BTIG Research assumed coverage on shares of Evergy in a research report on Thursday, April 9th. They issued a “buy” rating and a $99.00 price objective for the company. Wells Fargo & Company set a $87.00 target price on shares of Evergy in a research report on Tuesday, April 21st. UBS Group lifted 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. Barclays boosted their price target on Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings raised Evergy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $90.10.

Evergy Stock Performance

EVRG stock opened at $86.56 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.45 and a quick ratio of 0.24. The business has a 50-day moving average price of $84.05 and a 200 day moving average price of $81.17. The company has a market capitalization of $19.95 billion, a P/E ratio of 22.96, a PEG ratio of 2.22 and a beta of 0.54. Evergy Inc. has a 1-year low of $67.64 and a 1-year high of $88.62.

Evergy (NASDAQ:EVRG) last issued its earnings results on Wednesday, May 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.06. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Evergy had a net margin of 14.63% and a return on equity of 9.09%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 EPS. As a group, equities research analysts forecast that Evergy Inc. will post 4.25 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, May 22nd were paid 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 dividend yield of 3.2%. Evergy’s dividend payout ratio (DPR) is currently 73.74%.

Insider Activity at Evergy

In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $83.46, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sandra Aj Lawrence sold 761 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $83.31, for a total value of $63,398.91. Following the sale, the director directly owned 1,680 shares in the company, valued at $139,960.80. This trade represents a 31.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 12,748 shares of company stock worth $1,061,870. 1.52% of the stock is currently 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.