HITE Hedge Asset Management LLC Sells 236,075 Shares of Evergy Inc. $EVRG

HITE Hedge Asset Management LLC lowered its holdings in Evergy Inc. (NASDAQ:EVRG) by 23.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 767,132 shares of the company’s stock after selling 236,075 shares during the period. Evergy makes up 3.2% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 9th biggest position. HITE Hedge Asset Management LLC owned about 0.33% of Evergy worth $58,317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of EVRG. Synergy Asset Management LLC boosted its holdings in shares of Evergy by 100.0% during the third quarter. Synergy Asset Management LLC now owns 148,940 shares of the company’s stock worth $11,322,000 after purchasing an additional 74,470 shares during the period. Caprock Group LLC purchased a new position in Evergy during the third quarter valued at approximately $1,482,000. Kingsview Wealth Management LLC acquired a new position in Evergy in the 2nd quarter valued at approximately $246,000. ANTIPODES PARTNERS Ltd purchased a new stake in Evergy in the 3rd quarter worth approximately $72,860,000. Finally, Oppenheimer Asset Management Inc. lifted its position in Evergy by 9.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 209,307 shares of the company’s stock worth $15,912,000 after buying an additional 18,783 shares in the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.

Wall Street Analysts Forecast Growth

EVRG has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Evergy in a report on Monday, December 29th. UBS Group lowered Evergy from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $86.00 to $88.00 in a report on Friday, February 13th. Barclays lifted their price objective on Evergy from $82.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company boosted their target price on Evergy from $79.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, February 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $91.00 price target on shares of Evergy in a research note on Friday, January 23rd. One research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.75.

Evergy Stock Performance

Shares of EVRG opened at $81.74 on Friday. The firm has a market cap of $18.82 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 3.21 and a beta of 0.65. The company’s fifty day moving average is $78.51 and its 200-day moving average is $76.07. The company has a quick ratio of 0.27, a current ratio of 0.49 and a debt-to-equity ratio of 1.27. Evergy Inc. has a 12 month low of $61.94 and a 12 month high of $85.23.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Saturday, January 31st. The company reported $0.42 earnings per share (EPS) for the quarter. Evergy had a net margin of 14.35% and a return on equity of 8.79%. Equities analysts expect that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, March 10th. Evergy’s dividend payout ratio (DPR) is 75.75%.

Insider Activity

In other news, Director Ann D. Murtlow sold 2,847 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $82.34, for a total transaction of $234,421.98. Following the completion of the sale, the director owned 2,311 shares in the company, valued at approximately $190,287.74. This represents a 55.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Heather A. Humphrey sold 3,650 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $82.61, for a total value of $301,526.50. Following the transaction, the senior vice president directly owned 44,007 shares in the company, valued at approximately $3,635,418.27. This represents a 7.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.42% of the stock is owned by company insiders.

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.