Empowered Funds LLC Purchases New Shares in Evergy Inc. $EVRG

Empowered Funds LLC acquired a new position in shares of Evergy Inc. (NASDAQ:EVRG) during the 2nd quarter, Holdings Channel reports. The firm acquired 27,869 shares of the company’s stock, valued at approximately $2,409,000.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC acquired a new stake in Evergy in the 4th quarter worth about $257,000. United Services Automobile Association acquired a new position in shares of Evergy during the 1st quarter worth approximately $223,000. Woodline Partners LP increased its holdings in shares of Evergy by 40.7% during the first quarter. Woodline Partners LP now owns 19,429 shares of the company’s stock worth $1,340,000 after purchasing an additional 5,618 shares during the period. Focus Partners Wealth increased its holdings in shares of Evergy by 7.3% during the first quarter. Focus Partners Wealth now owns 13,791 shares of the company’s stock worth $951,000 after purchasing an additional 939 shares during the period. Finally, Schnieders Capital Management LLC. raised its holdings in Evergy by 4.2% in the 2nd quarter. Schnieders Capital Management LLC. now owns 21,545 shares of the company’s stock valued at $1,485,000 after acquiring an additional 872 shares in the last quarter. Institutional investors own 87.24% of the company’s stock.

Insiders Place Their Bets

In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of the firm’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 transaction of $900,283.02. Following the completion of the transaction, the executive vice president owned 37,789 shares in the company, valued at approximately $3,153,869.94. This trade represents a 22.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.52% of the company’s stock.

Evergy Trading Down 0.9%

NASDAQ EVRG opened at $80.77 on Thursday. The business’s 50-day moving average price is $84.39 and its two-hundred day moving average price is $83.04. Evergy Inc. has a 12 month low of $70.42 and a 12 month high of $88.62. The firm has a market capitalization of $18.62 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 2.11 and a beta of 0.53. The company has a current ratio of 0.36, a quick ratio of 0.21 and a debt-to-equity ratio of 1.20.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.88 earnings per share (EPS) 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 the consensus estimate of $1.36 billion. During the same period last year, the company earned $0.82 earnings per share. On average, analysts expect that Evergy Inc. will post 4.25 EPS for the current year.

Evergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders 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 yield of 3.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Evergy’s dividend payout ratio is currently 70.56%.

Analyst Ratings Changes

EVRG has been the subject of several analyst reports. BTIG Research set a $97.00 target price on shares of Evergy in a research report on Thursday, July 23rd. Barclays increased their target price on Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. BMO Capital Markets boosted their target price on shares of Evergy from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. UBS Group upped their price target on shares of Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Citigroup raised their price target on shares of Evergy from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.60.

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.