Sage Mountain Advisors LLC Sells 918 Shares of Evergy Inc. $EVRG

Sage Mountain Advisors LLC lessened its holdings in shares of Evergy Inc. (NASDAQ:EVRG) by 16.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,591 shares of the company’s stock after selling 918 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Evergy were worth $316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Olde Wealth Management LLC bought a new stake in Evergy during the 1st quarter valued at approximately $32,000. LRI Investments LLC bought a new stake in Evergy during the 1st quarter valued at approximately $32,000. Clearstead Trust LLC bought a new stake in Evergy during the 1st quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC bought a new stake in Evergy during the 1st quarter valued at approximately $34,000. Finally, Investment Management Corp VA ADV raised its stake in Evergy by 168.4% during the 1st quarter. Investment Management Corp VA ADV now owns 569 shares of the company’s stock valued at $39,000 after purchasing an additional 357 shares during the period. Institutional investors own 87.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays reissued an “outperform” rating on shares of Evergy in a research note on Thursday, October 9th. Jefferies Financial Group raised their price target on Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Mizuho raised their price target on Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Evergy in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $78.07.

Evergy Stock Performance

NASDAQ EVRG opened at $77.96 on Monday. The stock has a market capitalization of $17.94 billion, a PE ratio of 21.42, a P/E/G ratio of 3.60 and a beta of 0.57. The business has a 50 day simple moving average of $74.17 and a two-hundred day simple moving average of $70.38. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.50 and a quick ratio of 0.27. Evergy Inc. has a 1-year low of $59.23 and a 1-year high of $79.32.

Evergy (NASDAQ:EVRG) last announced its earnings results on Thursday, August 7th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. On average, research analysts predict that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 22nd were issued a $0.6675 dividend. The ex-dividend date was Friday, August 22nd. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.4%. Evergy’s payout ratio is 73.35%.

Insider Activity at Evergy

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $72.33, for a total value of $578,640.00. Following the completion of the transaction, the senior vice president owned 499 shares in the company, valued at approximately $36,092.67. The trade was a 94.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.42% of the company’s stock.

Evergy Profile

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.