Kingsview Wealth Management LLC Buys New Position in Evergy Inc. $EVRG

Kingsview Wealth Management LLC purchased a new position in shares of Evergy Inc. (NASDAQ:EVRG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,595 shares of the company’s stock, valued at approximately $570,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Magellan Asset Management Ltd purchased a new stake in shares of Evergy during the second quarter valued at approximately $187,857,000. Legal & General Group Plc purchased a new position in shares of Evergy in the second quarter valued at $138,233,000. Energy Income Partners LLC purchased a new position in shares of Evergy in the second quarter valued at $110,394,000. Adage Capital Partners GP L.L.C. grew its holdings in Evergy by 476.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,207,882 shares of the company’s stock valued at $87,559,000 after purchasing an additional 998,400 shares in the last quarter. Finally, Freestone Grove Partners LP grew its holdings in Evergy by 321.1% during the 4th quarter. Freestone Grove Partners LP now owns 854,739 shares of the company’s stock valued at $61,960,000 after purchasing an additional 651,738 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on EVRG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Evergy in a research note on Friday, August 7th. UBS Group raised their target price on Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. BMO Capital Markets lifted their target price on Evergy from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Citigroup boosted their price target on Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, Barclays increased their price target on Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.60.

Evergy Stock Performance

NASDAQ EVRG opened at $80.65 on Monday. 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 one year low of $70.42 and a one year high of $88.62. The company has a 50-day simple moving average of $84.61 and a 200-day simple moving average of $83.01. The firm has a market capitalization of $18.60 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 2.09 and a beta of 0.54.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.07. Evergy had a net margin of 15.19% and a return on equity of 9.20%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, equities analysts forecast that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, August 18th. Evergy’s dividend payout ratio is presently 70.56%.

Insider Buying and Selling

In related news, EVP Charles A. Caisley sold 10,787 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $83.46, for a total transaction of $900,283.02. Following the completion of the transaction, the executive vice president directly owned 37,789 shares in the company, valued at $3,153,869.94. This represents a 22.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 600 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $81.41, for a total value of $48,846.00. Following the transaction, the director owned 680 shares of the company’s stock, valued at approximately $55,358.80. The trade was a 46.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,587 shares of company stock worth $965,655 over the last quarter. Insiders own 1.52% of the company’s stock.

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.