Newbridge Financial Services Group Inc. Buys 10,322 Shares of Evergy Inc. $EVRG

Newbridge Financial Services Group Inc. raised its stake in Evergy Inc. (NASDAQ:EVRG) by 4,318.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,561 shares of the company’s stock after purchasing an additional 10,322 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Evergy were worth $766,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EVRG. Massachusetts Financial Services Co. MA raised its holdings in Evergy by 346.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,046,787 shares of the company’s stock worth $155,597,000 after purchasing an additional 1,588,100 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Evergy by 969.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,329,424 shares of the company’s stock valued at $101,063,000 after buying an additional 1,205,101 shares during the period. ANTIPODES PARTNERS Ltd purchased a new position in Evergy during the third quarter valued at $72,860,000. Truist Financial Corp lifted its position in Evergy by 169.2% during the third quarter. Truist Financial Corp now owns 1,438,958 shares of the company’s stock valued at $109,390,000 after buying an additional 904,400 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Evergy by 136.7% during the third quarter. Envestnet Asset Management Inc. now owns 1,003,616 shares of the company’s stock valued at $76,295,000 after buying an additional 579,531 shares during the period. Institutional investors own 87.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EVRG. Weiss Ratings reissued a “buy (b-)” rating on shares of Evergy in a research report on Monday, December 29th. Citigroup raised their price objective on Evergy from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Royal Bank Of Canada reissued an “outperform” rating and set a $91.00 price objective on shares of Evergy in a research report on Friday, January 23rd. Mizuho set a $82.00 price objective on Evergy in a research report on Monday, February 23rd. Finally, Wells Fargo & Company raised their price objective on Evergy from $79.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Evergy currently has a consensus rating of “Moderate Buy” and an average target price of $87.75.

Evergy Trading Up 0.2%

NASDAQ EVRG opened at $82.84 on Wednesday. Evergy Inc. has a 12 month low of $61.94 and a 12 month high of $85.23. The stock has a market cap of $19.08 billion, a P/E ratio of 22.57, a P/E/G ratio of 2.15 and a beta of 0.61. The stock’s fifty day moving average price is $80.93 and its 200-day moving average price is $77.39. The company has a current ratio of 0.49, a quick ratio of 0.27 and a debt-to-equity ratio of 1.27.

Evergy (NASDAQ:EVRG) last released its earnings results on Saturday, January 31st. The company reported $0.42 EPS for the quarter. Evergy had a return on equity of 8.79% and a net margin of 14.35%. As a group, equities analysts forecast 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 was paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th were paid a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, March 10th. Evergy’s dividend payout ratio is currently 75.75%.

Insider Transactions at Evergy

In other news, Director Ann D. Murtlow sold 2,847 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $82.34, for a total value of $234,421.98. Following the sale, the director directly owned 2,311 shares of the company’s stock, valued at approximately $190,287.74. This represents a 55.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Charles L. King sold 2,440 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $82.19, for a total value of $200,543.60. Following the completion of the sale, the senior vice president directly owned 18,359 shares in the company, valued at approximately $1,508,926.21. This represents a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 8,937 shares of company stock valued at $736,492. Insiders own 1.42% of the company’s stock.

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.