Wedge Capital Management L L P NC Cuts Stock Holdings in Evergy Inc. $EVRG

Wedge Capital Management L L P NC lowered its position in shares of Evergy Inc. (NASDAQ:EVRG) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,441 shares of the company’s stock after selling 16,529 shares during the period. Wedge Capital Management L L P NC’s holdings in Evergy were worth $15,472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in EVRG. Franklin Resources Inc. increased its holdings in shares of Evergy by 4.3% in the 3rd quarter. Franklin Resources Inc. now owns 6,058,061 shares of the company’s stock worth $460,534,000 after purchasing an additional 251,027 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Evergy by 0.5% during the third quarter. Federated Hermes Inc. now owns 3,702,734 shares of the company’s stock valued at $281,482,000 after buying an additional 17,592 shares during the last quarter. Northern Trust Corp boosted its position in shares of Evergy by 10.6% during the third quarter. Northern Trust Corp now owns 2,760,494 shares of the company’s stock valued at $209,853,000 after buying an additional 263,619 shares during the last quarter. Magellan Asset Management Ltd increased its holdings in Evergy by 3.4% in the 3rd quarter. Magellan Asset Management Ltd now owns 2,444,381 shares of the company’s stock worth $185,822,000 after buying an additional 79,888 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Evergy by 346.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,046,787 shares of the company’s stock worth $155,597,000 after buying an additional 1,588,100 shares during the last quarter. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Evergy Trading Up 0.6%

Evergy stock opened at $80.85 on Friday. The business has a 50-day simple moving average of $80.09 and a two-hundred day simple moving average of $76.79. The company has a market cap of $18.62 billion, a P/E ratio of 22.03, a P/E/G ratio of 2.08 and a beta of 0.65. Evergy Inc. has a 52-week low of $61.94 and a 52-week 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.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings data on Saturday, January 31st. The company reported $0.42 earnings per share for the quarter. Evergy had a net margin of 14.35% and a return on equity of 8.79%. Analysts predict that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

The firm 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 annualized dividend and a yield of 3.4%. Evergy’s dividend payout ratio (DPR) is presently 75.75%.

Wall Street Analysts Forecast Growth

EVRG has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Evergy in a research note on Monday, December 29th. Mizuho set a $82.00 price objective on shares of Evergy in a report on Monday, February 23rd. Wells Fargo & Company increased their price objective on shares of Evergy from $79.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, February 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $91.00 target price on shares of Evergy in a research report on Friday, January 23rd. Finally, Barclays boosted their target price on shares of Evergy from $82.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.75.

Insiders Place Their Bets

In other news, SVP Heather A. Humphrey sold 3,650 shares of the company’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 sale, the senior vice president directly owned 44,007 shares in the company, valued at $3,635,418.27. This represents a 7.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ann D. Murtlow sold 2,847 shares of the firm’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 SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 8,937 shares of company stock worth $736,492. Company insiders own 1.42% of the company’s stock.

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.