Saudi Central Bank Grows Stock Holdings in Evergy Inc. $EVRG

Saudi Central Bank increased its position in shares of Evergy Inc. (NASDAQ:EVRG) by 89.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,120 shares of the company’s stock after purchasing an additional 7,623 shares during the period. Saudi Central Bank’s holdings in Evergy were worth $1,393,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. MidFirst Bank acquired a new position in shares of Evergy during the 4th quarter worth about $25,000. Knuff & Co LLC acquired a new position in Evergy in the second quarter valued at approximately $30,000. Burk Holdings LLC purchased a new position in Evergy in the second quarter valued at approximately $31,000. Prosperity Bancshares Inc acquired a new stake in Evergy during the fourth quarter worth approximately $32,000. Finally, Clearstead Trust LLC acquired a new position in shares of Evergy in the 2nd quarter valued at $33,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EVRG has been the topic of several research analyst reports. BTIG Research set a $97.00 price target on shares of Evergy in a research note on Thursday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Evergy in a report on Friday, August 7th. Citigroup raised their price target on Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Barclays raised their target price on shares of Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. Finally, BMO Capital Markets increased their price target on shares of Evergy from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. 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 currently has an average rating of “Moderate Buy” and a consensus target price of $90.60.

Evergy Price Performance

Shares of NASDAQ EVRG opened at $82.24 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.36 and a quick ratio of 0.21. The company has a market cap of $18.96 billion, a PE ratio of 20.87, a P/E/G ratio of 2.12 and a beta of 0.53. The stock has a fifty day moving average price of $83.99 and a 200 day moving average price of $83.04. Evergy Inc. has a 1-year low of $70.42 and a 1-year high of $88.62.

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

Evergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, August 18th will be issued 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 payout ratio is currently 70.56%.

Insider Transactions at Evergy

In other news, EVP Charles Caisley sold 10,787 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,153,869.94. This represents a 22.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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.