RNC Capital Management LLC Acquires 10,210 Shares of Evergy Inc. $EVRG

RNC Capital Management LLC lifted its holdings in shares of Evergy Inc. (NASDAQ:EVRG) by 1.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 695,348 shares of the company’s stock after acquiring an additional 10,210 shares during the quarter. Evergy makes up 2.3% of RNC Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding. RNC Capital Management LLC’s holdings in Evergy were worth $50,406,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA raised its position in Evergy by 346.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,046,787 shares of the company’s stock worth $155,597,000 after purchasing an additional 1,588,100 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of Evergy in the 3rd quarter valued at about $72,860,000. Truist Financial Corp increased its stake in shares of Evergy by 169.2% in the third quarter. Truist Financial Corp now owns 1,438,958 shares of the company’s stock valued at $109,390,000 after buying an additional 904,400 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Evergy by 136.7% in the third quarter. Envestnet Asset Management Inc. now owns 1,003,616 shares of the company’s stock valued at $76,295,000 after buying an additional 579,531 shares during the period. Finally, BROOKFIELD Corp ON bought a new position in shares of Evergy during the second quarter worth about $29,644,000. Institutional investors own 87.24% of the company’s stock.

Insiders Place Their Bets

In other Evergy news, SVP Heather A. Humphrey sold 3,650 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were 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 approximately $3,635,418.27. This trade represents a 7.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ann D. Murtlow sold 2,847 shares of Evergy stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $82.34, for a total transaction of $234,421.98. Following the completion of the sale, the director directly owned 2,311 shares of the company’s stock, valued at approximately $190,287.74. This trade represents a 55.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 8,937 shares of company stock worth $736,492. 1.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Evergy from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Mizuho set a $82.00 price target on shares of Evergy in a research report on Monday, February 23rd. Bank of America reduced their price objective on shares of Evergy from $89.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Barclays increased their price objective on shares of Evergy from $82.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, March 9th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $91.00 target price on shares of Evergy in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.30.

Evergy Trading Down 0.6%

NASDAQ EVRG opened at $82.08 on Tuesday. The stock has a market capitalization of $18.90 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.14 and a beta of 0.56. The business has a 50 day simple moving average of $82.06 and a 200 day simple moving average of $78.12. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.49 and a quick ratio of 0.27. Evergy Inc. has a one year low of $63.29 and a one year high of $85.27.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Saturday, January 31st. The company reported $0.42 earnings per share (EPS) for the quarter. Evergy had a return on equity of 8.79% and a net margin of 14.35%. Research analysts expect that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 10th were paid a dividend of $0.695 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $2.78 annualized dividend and a yield of 3.4%. Evergy’s dividend payout ratio is currently 75.75%.

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.