Gamco Investors INC. ET AL Cuts Stock Holdings in Evergy Inc. $EVRG

Gamco Investors INC. ET AL lowered its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 2.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 285,381 shares of the company’s stock after selling 6,159 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Evergy were worth $23,378,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Modern Wealth Management LLC lifted its stake in Evergy by 2.5% during the 1st quarter. Modern Wealth Management LLC now owns 8,736 shares of the company’s stock valued at $719,000 after acquiring an additional 211 shares in the last quarter. Sei Investments Co. grew its stake in shares of Evergy by 8.3% in the 1st quarter. Sei Investments Co. now owns 252,452 shares of the company’s stock worth $20,680,000 after acquiring an additional 19,390 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of Evergy by 65.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 210,622 shares of the company’s stock worth $17,254,000 after acquiring an additional 83,155 shares in the last quarter. Westpac Banking Corp grew its stake in shares of Evergy by 1.0% in the 1st quarter. Westpac Banking Corp now owns 21,332 shares of the company’s stock worth $1,748,000 after acquiring an additional 221 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Evergy by 7.1% in the first quarter. PNC Financial Services Group Inc. now owns 67,383 shares of the company’s stock valued at $5,520,000 after purchasing an additional 4,460 shares during the last quarter. Institutional investors own 87.24% of the company’s stock.

Evergy Price Performance

EVRG opened at $87.18 on Friday. The firm has a market cap of $20.10 billion, a P/E ratio of 23.12, a PEG ratio of 2.25 and a beta of 0.54. The firm has a 50-day moving average of $84.49 and a 200 day moving average of $81.66. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.24 and a current ratio of 0.45. Evergy Inc. has a fifty-two week low of $68.05 and a fifty-two week high of $88.62.

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

Evergy Dividend Announcement

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

Insider Buying and Selling

In related news, Director Sandra Aj Lawrence sold 761 shares of Evergy 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 sale, the director owned 1,680 shares of the company’s stock, valued at approximately $139,960.80. The trade was a 31.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles A. Caisley sold 10,787 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $83.46, for a total value of $900,283.02. Following the completion of the transaction, the executive vice president owned 37,789 shares in the company, valued at approximately $3,153,869.94. The trade was a 22.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 12,748 shares of company stock valued at $1,061,870 over the last three months. Insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EVRG shares. BTIG Research set a $97.00 price target on shares of Evergy in a research report on Thursday. Citigroup upped their price objective on shares of Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings upgraded shares of Evergy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Bank of America decreased their price objective on shares of Evergy from $89.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Finally, UBS Group lifted their target price on shares of Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.