Evergy Inc. $EVRG Shares Sold by Two Sigma Securities LLC

Two Sigma Securities LLC lessened its position in shares of Evergy Inc. (NASDAQ:EVRG) by 62.9% during the 2nd quarter, Holdings Channel reports. The firm owned 9,161 shares of the company’s stock after selling 15,524 shares during the quarter. Two Sigma Securities LLC’s holdings in Evergy were worth $792,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Rakuten Investment Management Inc. acquired a new position in Evergy in the 2nd quarter worth approximately $3,279,000. Bank of Nova Scotia acquired a new stake in Evergy during the 2nd quarter valued at approximately $3,569,000. Cullen Frost Bankers Inc. lifted its stake in Evergy by 4.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 316,511 shares of the company’s stock valued at $22,944,000 after acquiring an additional 14,907 shares during the period. Greenland Capital Management LP purchased a new stake in shares of Evergy in the 2nd quarter valued at $8,230,000. Finally, Vestcor Inc boosted its holdings in shares of Evergy by 49.6% in the 4th quarter. Vestcor Inc now owns 174,330 shares of the company’s stock valued at $12,637,000 after acquiring an additional 57,795 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $83.46, for a total transaction of $900,283.02. Following the transaction, the executive vice president directly owned 37,789 shares of the company’s stock, valued at $3,153,869.94. This trade represents a 22.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Corporate insiders own 1.52% of the company’s stock.

Evergy Price Performance

Shares of NASDAQ EVRG opened at $81.52 on Wednesday. The stock has a market capitalization of $18.80 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 2.10 and a beta of 0.53. Evergy Inc. has a 12 month low of $70.42 and a 12 month high of $88.62. The firm’s 50 day simple moving average is $84.50 and its 200-day simple moving average is $83.04. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.36 and a quick ratio of 0.21.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. The business 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 posted $0.82 earnings per share. Analysts expect that Evergy Inc. will post 4.25 EPS for the current year.

Evergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, August 18th will be issued a $0.695 dividend. This represents a $2.78 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Evergy’s payout ratio is presently 70.56%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EVRG. Barclays increased their price objective on shares of 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. UBS Group increased their price target on Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Citigroup lifted their price objective on Evergy from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, BTIG Research set a $97.00 price objective on Evergy in a report on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Evergy currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.60.

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.