Fulcrum Asset Management LLP Boosts Stake in Evergy Inc. $EVRG

Fulcrum Asset Management LLP raised its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 104.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,025 shares of the company’s stock after acquiring an additional 10,218 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Evergy were worth $1,522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its position in Evergy by 0.3% during the third quarter. Moneta Group Investment Advisors LLC now owns 46,972 shares of the company’s stock valued at $3,571,000 after purchasing an additional 145 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in Evergy by 17.7% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 979 shares of the company’s stock valued at $74,000 after purchasing an additional 147 shares during the last quarter. Modern Wealth Management LLC raised its holdings in Evergy by 1.9% in the third quarter. Modern Wealth Management LLC now owns 7,926 shares of the company’s stock worth $603,000 after purchasing an additional 148 shares in the last quarter. FAS Wealth Partners Inc. lifted its position in shares of Evergy by 2.4% during the second quarter. FAS Wealth Partners Inc. now owns 6,413 shares of the company’s stock valued at $442,000 after buying an additional 150 shares during the last quarter. Finally, Bfsg LLC lifted its position in shares of Evergy by 22.9% during the third quarter. Bfsg LLC now owns 817 shares of the company’s stock valued at $62,000 after buying an additional 152 shares during the last quarter. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Heather A. Humphrey sold 3,650 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $82.61, for a total transaction of $301,526.50. Following the sale, the senior vice president directly owned 44,007 shares of the company’s stock, valued at $3,635,418.27. The trade was a 7.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Charles L. King sold 2,440 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $82.19, for a total value of $200,543.60. Following the completion of the transaction, the senior vice president directly owned 18,359 shares in the company, valued at approximately $1,508,926.21. The trade was a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,937 shares of company stock valued at $736,492 over the last ninety days. 1.42% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EVRG shares. Citigroup lifted their price objective on shares of Evergy from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Wall Street Zen raised shares of Evergy from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Wells Fargo & Company raised their target price on shares of Evergy from $79.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, February 20th. UBS Group lowered shares of Evergy from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $86.00 to $88.00 in a report on Friday, February 13th. Finally, Mizuho set a $82.00 price target on Evergy in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.75.

Evergy Stock Performance

EVRG opened at $81.54 on Thursday. Evergy Inc. has a 52-week low of $61.94 and a 52-week high of $85.23. The company has a quick ratio of 0.27, a current ratio of 0.49 and a debt-to-equity ratio of 1.27. The company has a market cap of $18.78 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 2.14 and a beta of 0.65. The firm’s 50-day moving average price is $79.30 and its 200-day moving average price is $76.40.

Evergy (NASDAQ:EVRG) last released its 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%. As a group, equities analysts anticipate that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, March 10th. Evergy’s payout ratio is presently 75.75%.

Evergy 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.