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

Newbridge Financial Services Group Inc. increased its holdings in shares of Evergy Inc. (NASDAQ:EVRG) by 4,318.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Synergy Asset Management LLC lifted 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 valued at $11,322,000 after purchasing an additional 74,470 shares in the last quarter. Caprock Group LLC bought a new position in shares of Evergy during the third quarter valued at $1,482,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Evergy during the third quarter valued at $72,860,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Evergy by 9.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 209,307 shares of the company’s stock valued at $15,912,000 after purchasing an additional 18,783 shares in the last quarter. Finally, iA Global Asset Management Inc. lifted its holdings in shares of Evergy by 207.0% during the third quarter. iA Global Asset Management Inc. now owns 22,624 shares of the company’s stock valued at $1,720,000 after purchasing an additional 15,254 shares in the last quarter. 87.24% of the stock is owned by institutional investors.

Evergy Stock Up 0.2%

EVRG stock opened at $82.84 on Wednesday. Evergy Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $85.23. The business’s 50-day moving average is $80.93 and its two-hundred day moving average is $77.39. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.27 and a current ratio of 0.49. The company has a market cap of $19.08 billion, a price-to-earnings ratio of 22.57, a P/E/G ratio of 2.15 and a beta of 0.61.

Evergy (NASDAQ:EVRG) last posted its earnings results on Saturday, January 31st. The company reported $0.42 earnings per share for the quarter. Evergy had a return on equity of 8.79% and a net margin of 14.35%. As a group, analysts forecast that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th were given a $0.695 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $2.78 dividend on an annualized basis and a yield of 3.4%. Evergy’s dividend payout ratio is presently 75.75%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays increased their target price on Evergy from $82.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, March 9th. Wall Street Zen raised Evergy from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Mizuho set a $82.00 target price on Evergy in a report on Monday, February 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Evergy in a report on Monday, December 29th. Finally, Citigroup increased their target price on Evergy from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.75.

Insiders Place Their Bets

In other Evergy 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 value of $234,421.98. Following the completion of the sale, the director owned 2,311 shares in the company, valued at $190,287.74. This represents a 55.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Heather A. Humphrey sold 3,650 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $82.61, for a total value of $301,526.50. Following the completion of the sale, the senior vice president owned 44,007 shares of the company’s stock, valued at approximately $3,635,418.27. The trade was a 7.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 8,937 shares of company stock worth $736,492 over the last quarter. 1.42% of the stock is currently owned by corporate 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.