Evergy Inc. $EVRG Shares Sold by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC reduced its position in shares of Evergy Inc. (NASDAQ:EVRG) by 23.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 767,132 shares of the company’s stock after selling 236,075 shares during the period. Evergy accounts for approximately 3.2% of HITE Hedge Asset Management LLC’s holdings, making the stock its 9th biggest position. HITE Hedge Asset Management LLC’s holdings in Evergy were worth $58,317,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EVRG. Brighton Jones LLC bought a new stake in Evergy during the fourth quarter valued at about $257,000. United Services Automobile Association bought a new position in shares of Evergy in the first quarter worth about $223,000. Empowered Funds LLC lifted its position in shares of Evergy by 19.5% during the 1st quarter. Empowered Funds LLC now owns 4,648 shares of the company’s stock worth $320,000 after purchasing an additional 758 shares during the last quarter. Woodline Partners LP lifted its position in shares of Evergy by 40.7% during the 1st quarter. Woodline Partners LP now owns 19,429 shares of the company’s stock worth $1,340,000 after purchasing an additional 5,618 shares during the last quarter. Finally, Focus Partners Wealth boosted its stake in Evergy by 7.3% during the 1st quarter. Focus Partners Wealth now owns 13,791 shares of the company’s stock valued at $951,000 after purchasing an additional 939 shares during the period. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Stock Up 0.9%

EVRG stock opened at $81.74 on Friday. Evergy Inc. has a twelve month low of $61.94 and a twelve month high of $85.23. The company has a quick ratio of 0.27, a current ratio of 0.49 and a debt-to-equity ratio of 1.27. The company has a market cap of $18.82 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 3.21 and a beta of 0.65. The business’s 50-day simple moving average is $78.51 and its 200 day simple moving average is $76.07.

Evergy (NASDAQ:EVRG) last posted its quarterly 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%. On average, research analysts anticipate that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.695 per share. The ex-dividend date is Tuesday, March 10th. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. Evergy’s payout ratio is currently 75.75%.

Insiders Place Their Bets

In related news, Director Ann D. Murtlow sold 2,847 shares of the company’s 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 completion of the transaction, the director directly owned 2,311 shares in the company, valued at approximately $190,287.74. This represents a 55.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Heather A. Humphrey sold 3,650 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president directly owned 44,007 shares of the company’s stock, valued at approximately $3,635,418.27. This trade represents a 7.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EVRG. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $91.00 target price on shares of Evergy in a report on Friday, January 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Evergy in a report on Monday, December 29th. Barclays increased their price objective on Evergy from $82.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday. Citigroup boosted their target price on shares of Evergy from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Mizuho set a $82.00 target price on shares of Evergy in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $87.75.

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.