Insider Selling: Evergy (NASDAQ:EVRG) SVP Sells 2,440 Shares of Stock

Evergy Inc. (NASDAQ:EVRG) SVP Charles King sold 2,440 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $82.19, for a total transaction of $200,543.60. Following the sale, the senior vice president directly owned 18,359 shares in the company, valued at $1,508,926.21. This trade represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Evergy Stock Up 1.1%

NASDAQ:EVRG traded up $0.86 on Friday, reaching $82.60. 352,079 shares of the stock traded hands, compared to its average volume of 2,221,541. The company has a current ratio of 0.49, a quick ratio of 0.27 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $19.02 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 3.21 and a beta of 0.65. Evergy Inc. has a 12 month low of $61.94 and a 12 month high of $85.23. The company’s fifty day simple moving average is $78.51 and its 200 day simple moving average is $76.07.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Saturday, January 31st. The company reported $0.42 EPS for the quarter. Evergy had a net margin of 14.35% and a return on equity of 8.79%. Equities analysts predict that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th will be issued a $0.695 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. Evergy’s dividend payout ratio (DPR) is presently 75.75%.

Institutional Trading of Evergy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MidFirst Bank bought a new position in Evergy in the fourth quarter worth approximately $25,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Evergy in the 4th quarter worth $27,000. Accredited Wealth Management LLC raised its holdings in Evergy by 1,310.3% in the 3rd quarter. Accredited Wealth Management LLC now owns 409 shares of the company’s stock worth $31,000 after purchasing an additional 380 shares during the period. Prosperity Bancshares Inc purchased a new position in Evergy during the fourth quarter valued at $32,000. Finally, AlphaCore Capital LLC purchased a new position in Evergy during the second quarter valued at $33,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EVRG shares. BMO Capital Markets increased 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. Wall Street Zen upgraded shares of Evergy from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Mizuho set a $82.00 price target on shares of Evergy in a report on Monday, February 23rd. UBS Group cut shares of Evergy from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $86.00 to $88.00 in a report on Friday, February 13th. Finally, Wells Fargo & Company increased their price objective on shares of Evergy from $79.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.75.

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.