SVB Wealth LLC Decreases Stock Position in Evergy Inc. $EVRG

SVB Wealth LLC cut its position in Evergy Inc. (NASDAQ:EVRG) by 13.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 44,939 shares of the company’s stock after selling 6,836 shares during the period. SVB Wealth LLC’s holdings in Evergy were worth $3,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in EVRG. California State Teachers Retirement System grew its stake in shares of Evergy by 8,326.1% during the 2nd quarter. California State Teachers Retirement System now owns 23,101,615 shares of the company’s stock worth $1,996,673,000 after acquiring an additional 22,827,447 shares during the period. Geode Capital Management LLC raised its stake in Evergy by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 6,447,150 shares of the company’s stock valued at $465,684,000 after acquiring an additional 105,842 shares during the period. Franklin Resources Inc. raised its stake in Evergy by 0.6% in the 4th quarter. Franklin Resources Inc. now owns 6,091,518 shares of the company’s stock valued at $441,574,000 after acquiring an additional 33,457 shares during the period. Federated Hermes Inc. lifted its holdings in Evergy by 1.6% during the fourth quarter. Federated Hermes Inc. now owns 3,760,548 shares of the company’s stock valued at $272,602,000 after purchasing an additional 57,814 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Evergy by 10.6% during the third quarter. Northern Trust Corp now owns 2,760,494 shares of the company’s stock valued at $209,853,000 after purchasing an additional 263,619 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Insider Activity at Evergy

In related news, EVP Charles 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 transaction 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 approximately $3,153,869.94. The trade was a 22.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.52% of the company’s stock.

Evergy Stock Performance

Shares of EVRG opened at $82.24 on Wednesday. The stock’s 50-day simple moving average is $83.99 and its 200 day simple moving average is $83.04. The stock has a market capitalization of $18.96 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 2.12 and a beta of 0.53. 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 52-week low of $70.42 and a 52-week high of $88.62.

Evergy (NASDAQ:EVRG) last posted its earnings results on Wednesday, August 5th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.36 billion. Evergy had a return on equity of 9.20% and a net margin of 15.19%.During the same quarter in the previous year, the firm earned $0.82 EPS. Research analysts forecast that Evergy Inc. will post 4.25 EPS for the current fiscal year.

Evergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, August 18th will be given a $0.695 dividend. 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 (DPR) is 70.56%.

Analyst Upgrades and Downgrades

EVRG has been the subject of several recent research reports. Citigroup lifted their target price on shares of Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. BTIG Research set a $97.00 price target on shares of Evergy in a research note on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Evergy in a research note on Friday, August 7th. BMO Capital Markets raised their price objective on shares of Evergy from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Finally, Barclays lifted their price objective on shares of Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, June 30th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.