Ieq Capital LLC Purchases New Stake in Evergy Inc. $EVRG

Ieq Capital LLC purchased a new stake in shares of Evergy Inc. (NASDAQ:EVRG) in the 2nd quarter, Holdings Channel reports. The fund purchased 9,423 shares of the company’s stock, valued at approximately $814,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MidFirst Bank acquired a new stake in shares of Evergy during the 4th quarter worth about $25,000. Knuff & Co LLC bought a new position in Evergy in the 2nd quarter valued at about $30,000. Prosperity Bancshares Inc bought a new position in Evergy in the 4th quarter valued at about $32,000. Clearstead Trust LLC acquired a new stake in Evergy during the second quarter worth approximately $33,000. Finally, Triumph Capital Management boosted its holdings in shares of Evergy by 104.8% during 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. 87.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

EVRG has been the topic of a number of recent research reports. Barclays increased their target price on Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Evergy in a report on Friday, August 7th. Citigroup increased their price objective on Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. UBS Group lifted their target price on Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, BMO Capital Markets boosted their target price on shares of Evergy from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.60.

Evergy Stock Down 1.0%

EVRG stock opened at $81.42 on Friday. The company has a market cap of $18.77 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 2.13 and a beta of 0.54. The company has a quick ratio of 0.21, a current ratio of 0.36 and a debt-to-equity ratio of 1.20. Evergy Inc. has a 52 week low of $70.42 and a 52 week high of $88.62. The business has a 50-day simple moving average of $84.64 and a 200 day simple moving average of $82.99.

Evergy (NASDAQ:EVRG) last released its earnings results on Wednesday, August 5th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.81 by $0.07. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.36 billion. Evergy had a net margin of 15.19% and a return on equity of 9.20%. During the same period last year, the firm earned $0.82 EPS. Sell-side analysts anticipate that Evergy Inc. will post 4.25 EPS for the current fiscal year.

Evergy Dividend Announcement

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

Insider Activity at Evergy

In other Evergy news, Director Sandra Aj Lawrence sold 600 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $81.41, for a total value of $48,846.00. Following the sale, the director owned 680 shares of the company’s stock, valued at approximately $55,358.80. This trade represents a 46.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Charles A. Caisley sold 10,787 shares of Evergy stock in a transaction on 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 in the company, valued at approximately $3,153,869.94. The trade was a 22.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 11,587 shares of company stock valued at $965,655. Company insiders own 1.52% of the company’s stock.

About Evergy

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.