Hsbc Holdings PLC Raises Stock Position in Evergy Inc. $EVRG

Hsbc Holdings PLC raised its position in Evergy Inc. (NASDAQ:EVRG) by 24.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,215,208 shares of the company’s stock after purchasing an additional 237,046 shares during the quarter. Hsbc Holdings PLC owned about 0.53% of Evergy worth $88,119,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. MidFirst Bank acquired a new stake in shares of Evergy during the 4th quarter worth approximately $25,000. Harbor Capital Advisors Inc. acquired a new position in Evergy in the fourth quarter valued at approximately $27,000. Prosperity Bancshares Inc acquired a new position in Evergy in the fourth quarter valued at approximately $32,000. Triumph Capital Management grew its position in 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 period. Finally, Transamerica Financial Advisors LLC grew its position in Evergy by 163.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 529 shares of the company’s stock worth $38,000 after acquiring an additional 328 shares during the period. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Price Performance

Evergy stock opened at $88.13 on Friday. Evergy Inc. has a fifty-two week low of $67.30 and a fifty-two week high of $88.18. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.24 and a current ratio of 0.45. The firm has a 50 day moving average price of $83.27 and a 200 day moving average price of $80.29. The company has a market capitalization of $20.31 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 2.29 and a beta of 0.54.

Evergy (NASDAQ:EVRG) last announced its earnings results on Wednesday, May 6th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. Evergy had a return on equity of 9.09% and a net margin of 14.63%.The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts expect that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, May 22nd were issued a $0.695 dividend. This represents a $2.78 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, May 22nd. Evergy’s payout ratio is currently 73.74%.

Insider Buying and Selling at Evergy

In related news, EVP Charles A. Caisley sold 10,787 shares of the firm’s stock in a transaction dated 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 trade represents a 22.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 Evergy stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $81.41, for a total value of $48,846.00. Following the completion of the transaction, the director directly owned 680 shares of the company’s stock, valued at approximately $55,358.80. This represents a 46.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,748 shares of company stock worth $1,061,870 in the last quarter. Company insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company set a $87.00 target price on Evergy in a research report on Tuesday, April 21st. Weiss Ratings upgraded Evergy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. BTIG Research initiated coverage on Evergy in a research report on Thursday, April 9th. They set a “buy” rating and a $99.00 price objective for the company. Bank of America cut their price objective on Evergy from $89.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Finally, Barclays boosted their price objective on shares of Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday. Eight 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, the company presently has an average rating of “Moderate Buy” and an average price target of $90.10.

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.