The Manufacturers Life Insurance Company Sells 10,645 Shares of Evergy Inc. $EVRG

The Manufacturers Life Insurance Company lessened its holdings in Evergy Inc. (NASDAQ:EVRG) by 1.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 638,590 shares of the company’s stock after selling 10,645 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.28% of Evergy worth $52,313,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in EVRG. MidFirst Bank bought a new stake in shares of Evergy in the 4th quarter worth approximately $25,000. Harbor Capital Advisors Inc. purchased a new position in Evergy during the fourth quarter valued at $27,000. Prosperity Bancshares Inc bought a new stake in Evergy in the fourth quarter worth $32,000. Cedar Mountain Advisors LLC bought a new stake in Evergy in the first quarter worth $40,000. Finally, Triumph Capital Management grew its stake in shares of Evergy by 104.8% in the fourth quarter. Triumph Capital Management now owns 508 shares of the company’s stock worth $37,000 after acquiring an additional 260 shares during the last quarter. Institutional investors own 87.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America lowered their price target on Evergy from $89.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Weiss Ratings raised shares of Evergy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. BTIG Research set a $97.00 price objective on shares of Evergy in a research note on Thursday, July 23rd. Barclays lifted their target price on shares of Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Finally, BMO Capital Markets increased their price target on shares of Evergy from $88.00 to $92.00 and gave the company an “outperform” rating in a report 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. Based on data from MarketBeat, Evergy presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.60.

Evergy Trading Down 1.9%

Evergy stock opened at $84.00 on Thursday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.45 and a quick ratio of 0.24. Evergy Inc. has a one year low of $69.54 and a one year high of $88.62. The stock has a market capitalization of $19.36 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 2.22 and a beta of 0.54. The business’s fifty day moving average is $84.64 and its 200 day moving average is $81.99.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.63 by $0.06. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.27 billion. Evergy had a return on equity of 9.09% and a net margin of 14.63%.Evergy’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company earned $0.54 EPS. On average, sell-side analysts predict that Evergy Inc. will post 4.25 EPS for the current year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, May 22nd. Evergy’s payout ratio is presently 73.74%.

Insider Activity at Evergy

In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of Evergy 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 sale, the executive vice president owned 37,789 shares of the company’s stock, valued at approximately $3,153,869.94. The trade was a 22.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sandra Aj Lawrence sold 761 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $83.31, for a total transaction of $63,398.91. Following the sale, the director owned 1,680 shares of the company’s stock, valued at approximately $139,960.80. This represents a 31.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,748 shares of company stock valued at $1,061,870 over the last three months. 1.52% of the stock is owned by corporate insiders.

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.