Sanctuary Advisors LLC Purchases New Holdings in Evergy Inc. $EVRG

Sanctuary Advisors LLC acquired a new stake in shares of Evergy Inc. (NASDAQ:EVRG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 23,052 shares of the company’s stock, valued at approximately $1,992,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. MidFirst Bank acquired a new stake in shares of Evergy during the fourth quarter worth $25,000. Knuff & Co LLC acquired a new position in Evergy in the 2nd quarter valued at $30,000. Burk Holdings LLC purchased a new position in Evergy during the 2nd quarter worth $31,000. Clearstead Trust LLC purchased a new position in Evergy during the 2nd quarter worth $33,000. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Evergy in the 4th quarter worth $32,000. 87.24% of the stock is owned by institutional investors and hedge funds.

Evergy Price Performance

EVRG stock opened at $82.23 on Thursday. The stock’s 50 day moving average price is $84.66 and its 200 day moving average price is $82.95. The firm has a market cap of $18.96 billion, a P/E ratio of 20.87, a PEG ratio of 2.11 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. Evergy Inc. has a 1 year low of $70.42 and a 1 year high of $88.62.

Evergy (NASDAQ:EVRG) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. Evergy had a return on equity of 9.20% and a net margin of 15.19%.The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, sell-side analysts expect that Evergy Inc. will post 4.25 earnings per share for the current fiscal year.

Evergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, August 18th will be paid a $0.695 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $2.78 annualized dividend and a yield of 3.4%. Evergy’s payout ratio is presently 70.56%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. Citigroup lifted their price objective on Evergy from $95.00 to $97.00 and gave the company a “buy” rating in a report on Friday, July 24th. UBS Group boosted their target price on Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. BTIG Research set a $97.00 target price on Evergy in a research note on Thursday, July 23rd. Finally, BMO Capital Markets raised their price target on Evergy from $88.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.60.

Insider Transactions at Evergy

In other news, EVP Charles A. Caisley sold 10,787 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $83.46, for a total value of $900,283.02. Following the completion of the transaction, the executive vice president owned 37,789 shares of the company’s stock, valued at $3,153,869.94. The trade was a 22.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 600 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $81.41, for a total transaction of $48,846.00. Following the completion of the transaction, the director directly owned 680 shares of the company’s stock, valued at approximately $55,358.80. This represents a 46.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 11,987 shares of company stock worth $998,471. 1.52% of the stock is owned by 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.