Headlands Technologies LLC Trims Stake in Evergy Inc. $EVRG

Headlands Technologies LLC cut its holdings in Evergy Inc. (NASDAQ:EVRG) by 47.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,598 shares of the company’s stock after selling 13,818 shares during the period. Headlands Technologies LLC’s holdings in Evergy were worth $1,348,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Benjamin Edwards Inc. grew its position in shares of Evergy by 15.2% during the 2nd quarter. Benjamin Edwards Inc. now owns 8,086 shares of the company’s stock valued at $699,000 after acquiring an additional 1,069 shares during the period. Greenwood Capital Associates LLC bought a new position in Evergy in the 2nd quarter worth $1,558,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Evergy by 9.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,160,181 shares of the company’s stock valued at $100,274,000 after purchasing an additional 96,765 shares in the last quarter. New Mexico Educational Retirement Board lifted its position in Evergy by 7.5% during the second quarter. New Mexico Educational Retirement Board now owns 11,450 shares of the company’s stock valued at $990,000 after purchasing an additional 800 shares in the last quarter. Finally, Mufg Securities Americas Inc. lifted its position in Evergy by 9.0% during the second quarter. Mufg Securities Americas Inc. now owns 6,943 shares of the company’s stock valued at $600,000 after purchasing an additional 573 shares in the last quarter. Institutional investors own 87.24% of the company’s stock.

Evergy Stock Up 0.5%

EVRG opened at $81.02 on Tuesday. The stock has a market cap of $18.68 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 2.09 and a beta of 0.54. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.21 and a current ratio of 0.36. The firm’s fifty day moving average is $84.56 and its 200 day moving average is $83.03. Evergy Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $88.62.

Evergy (NASDAQ:EVRG) last issued 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 business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.36 billion. Evergy had a return on equity of 9.20% and a net margin of 15.19%.During the same quarter in the prior year, the business posted $0.82 EPS. On average, sell-side analysts forecast that Evergy Inc. will post 4.25 earnings per share for the current fiscal year.

Evergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors 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 annualized dividend and a dividend yield of 3.4%. Evergy’s dividend payout ratio (DPR) is currently 70.56%.

Insider Transactions at Evergy

In related news, EVP Charles A. Caisley sold 10,787 shares of Evergy stock in a transaction that occurred 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 sale, the executive vice president owned 37,789 shares of the company’s stock, valued at approximately $3,153,869.94. This trade represents a 22.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EVRG shares. BTIG Research set a $97.00 price target on Evergy in a research report on Thursday, July 23rd. UBS Group lifted their price objective on Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Citigroup boosted their price objective on Evergy from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Barclays boosted their price objective on Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. Finally, BMO Capital Markets raised their target price on shares of Evergy from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.60.

About Evergy

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.