Andra AP fonden Cuts Stock Position in Evergy Inc. $EVRG

Andra AP fonden cut its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 71.6% in the third quarter, HoldingsChannel.com reports. The fund owned 17,555 shares of the company’s stock after selling 44,300 shares during the period. Andra AP fonden’s holdings in Evergy were worth $1,335,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in EVRG. Vanguard Group Inc. lifted its stake in shares of Evergy by 1.7% in the second quarter. Vanguard Group Inc. now owns 30,966,777 shares of the company’s stock worth $2,134,540,000 after buying an additional 521,310 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Evergy by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 6,257,857 shares of the company’s stock valued at $429,677,000 after acquiring an additional 170,953 shares during the period. Franklin Resources Inc. lifted its stake in Evergy by 2.1% during the second quarter. Franklin Resources Inc. now owns 5,807,034 shares of the company’s stock worth $400,279,000 after purchasing an additional 118,124 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Evergy by 0.5% during the 3rd quarter. Federated Hermes Inc. now owns 3,702,734 shares of the company’s stock valued at $281,482,000 after acquiring an additional 17,592 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Evergy by 44.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,470,917 shares of the company’s stock valued at $170,320,000 after purchasing an additional 760,301 shares during the period. Institutional investors and hedge funds own 87.24% of the company’s stock.

Insider Buying and Selling at Evergy

In related news, Director Ann D. Murtlow sold 2,847 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $82.34, for a total transaction of $234,421.98. Following the transaction, the director owned 2,311 shares of the company’s stock, valued at approximately $190,287.74. This represents a 55.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.42% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EVRG has been the subject of several analyst reports. Citigroup boosted their target price on Evergy from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. BMO Capital Markets boosted their price target on shares of Evergy from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Monday, February 23rd. Wells Fargo & Company increased their price objective on Evergy from $79.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, February 20th. Barclays raised their price target on Evergy from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Evergy from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Evergy presently has an average rating of “Moderate Buy” and an average price target of $86.88.

Evergy Stock Performance

Shares of EVRG stock opened at $83.66 on Monday. The stock has a market cap of $19.27 billion, a PE ratio of 22.80, a P/E/G ratio of 3.32 and a beta of 0.65. Evergy Inc. has a 1 year low of $61.94 and a 1 year high of $84.08. The stock has a fifty day moving average price of $76.67 and a 200 day moving average price of $75.44. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.27 and a current ratio of 0.49.

Evergy (NASDAQ:EVRG) last posted its earnings results on Saturday, January 31st. The company reported $0.42 earnings per share for the quarter. Evergy had a net margin of 14.35% and a return on equity of 8.79%. Sell-side analysts forecast that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be given a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Tuesday, March 10th. Evergy’s dividend payout ratio (DPR) is currently 75.75%.

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.