Hsbc Holdings PLC Raises Position in Evergy Inc. $EVRG

Hsbc Holdings PLC raised its holdings in Evergy Inc. (NASDAQ:EVRG) by 24.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,215,208 shares of the company’s stock after buying an additional 237,046 shares during the period. Hsbc Holdings PLC’s holdings in Evergy were worth $88,119,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EVRG. Orion Porfolio Solutions LLC grew its stake in Evergy by 32.5% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 83,233 shares of the company’s stock worth $6,327,000 after purchasing an additional 20,395 shares in the last quarter. Goelzer Investment Management Inc. purchased a new stake in Evergy during the 4th quarter worth about $1,073,000. Cullen Frost Bankers Inc. raised its position in Evergy by 4.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 316,511 shares of the company’s stock valued at $22,944,000 after purchasing an additional 14,907 shares in the last quarter. Gotham Asset Management LLC raised its position in Evergy by 29.3% in the 3rd quarter. Gotham Asset Management LLC now owns 560,551 shares of the company’s stock valued at $42,613,000 after purchasing an additional 126,893 shares in the last quarter. Finally, Qsemble Capital Management LP boosted its stake in shares of Evergy by 295.4% in the 4th quarter. Qsemble Capital Management LP now owns 105,780 shares of the company’s stock valued at $7,668,000 after buying an additional 79,029 shares during the period. Institutional investors and hedge funds own 87.24% of the company’s stock.

Insider Buying and Selling

In other Evergy news, Director Sandra Aj Lawrence sold 761 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $83.31, for a total value of $63,398.91. Following the transaction, the director directly owned 1,680 shares in the company, valued at $139,960.80. This represents a 31.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Charles A. Caisley sold 10,787 shares of the firm’s 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 sale, the executive vice president directly owned 37,789 shares in the company, valued at approximately $3,153,869.94. The trade was a 22.21% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 12,748 shares of company stock valued at $1,061,870 over the last ninety days. 1.52% of the stock is currently owned by corporate insiders.

Evergy Price Performance

Evergy stock opened at $88.13 on Friday. The stock has a market cap of $20.31 billion, a PE ratio of 23.38, a P/E/G ratio of 2.29 and a beta of 0.54. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.45 and a quick ratio of 0.24. The stock’s fifty day moving average is $83.27 and its two-hundred day moving average is $80.29. Evergy Inc. has a 1-year low of $67.30 and a 1-year high of $88.18.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.06. Evergy had a return on equity of 9.09% and a net margin of 14.63%.The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the firm posted $0.54 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts expect that Evergy Inc. will post 4.25 EPS for the current fiscal year.

Evergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, May 22nd were issued a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, May 22nd. Evergy’s dividend payout ratio is 73.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wells Fargo & Company set a $87.00 price objective on Evergy in a research report on Tuesday, April 21st. Barclays raised their target price on shares of Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday. BTIG Research assumed coverage on shares of Evergy in a research note on Thursday, April 9th. They issued a “buy” rating and a $99.00 price target for the company. UBS Group boosted their price target on shares of Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Bank of America lowered their price target on shares of Evergy from $89.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $90.10.

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.