Royal Bank of Canada Buys 13,364 Shares of Evergy Inc. $EVRG

Royal Bank of Canada grew its position in shares of Evergy Inc. (NASDAQ:EVRG) by 5.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 273,184 shares of the company’s stock after acquiring an additional 13,364 shares during the period. Royal Bank of Canada owned about 0.12% of Evergy worth $22,381,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EVRG. MidFirst Bank purchased a new stake in shares of Evergy in the 4th quarter worth approximately $25,000. Harbor Capital Advisors Inc. purchased a new position in Evergy during the fourth quarter valued at $27,000. Prosperity Bancshares Inc bought a new stake in Evergy in the fourth quarter worth $32,000. Triumph Capital Management boosted its holdings 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 in the last quarter. Finally, Transamerica Financial Advisors LLC grew its stake in shares of 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 last quarter. Institutional investors own 87.24% of the company’s stock.

Evergy Price Performance

Shares of Evergy stock opened at $83.06 on Thursday. The company has a market capitalization of $19.15 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 2.17 and a beta of 0.54. The company has a quick ratio of 0.24, a current ratio of 0.45 and a debt-to-equity ratio of 1.29. The stock’s 50-day simple moving average is $84.57 and its 200-day simple moving average is $82.31. Evergy Inc. has a 52 week low of $70.42 and a 52 week high of $88.62.

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

Analysts Set New Price Targets

A number of research firms have commented on EVRG. BTIG Research set a $97.00 target price on Evergy in a report on Thursday, July 23rd. Bank of America lowered their price target on Evergy from $89.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Citigroup boosted their target price on Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Barclays upped their target price 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. Finally, UBS Group raised their price target on shares of Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Evergy currently has an average rating of “Moderate Buy” and a consensus target price of $90.60.

Insider Buying and Selling at Evergy

In related news, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $83.46, for a total value 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. This trade represents a 22.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 761 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $83.31, for a total value of $63,398.91. Following the completion of the sale, the director directly owned 1,680 shares of the company’s stock, valued at $139,960.80. The trade was a 31.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,748 shares of company stock valued at $1,061,870 in the last quarter. 1.52% of the stock is owned by company insiders.

Evergy Company 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.