QRG Capital Management Inc. Purchases 11,077 Shares of Evergy Inc. $EVRG

QRG Capital Management Inc. lifted its position in shares of Evergy Inc. (NASDAQ:EVRG) by 7.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151,560 shares of the company’s stock after purchasing an additional 11,077 shares during the period. QRG Capital Management Inc. owned about 0.07% of Evergy worth $12,416,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oxbow Advisors LLC grew its holdings in Evergy by 1.3% during the 1st quarter. Oxbow Advisors LLC now owns 48,493 shares of the company’s stock worth $3,973,000 after acquiring an additional 602 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Evergy by 28.0% during the first quarter. HB Wealth Management LLC now owns 12,193 shares of the company’s stock valued at $999,000 after acquiring an additional 2,669 shares during the last quarter. PFG Investments LLC lifted its holdings in shares of Evergy by 44.4% during the first quarter. PFG Investments LLC now owns 6,078 shares of the company’s stock worth $498,000 after purchasing an additional 1,869 shares during the period. Sierra Summit Advisors LLC lifted its holdings in shares of Evergy by 5.7% during the first quarter. Sierra Summit Advisors LLC now owns 13,483 shares of the company’s stock worth $1,105,000 after purchasing an additional 725 shares during the period. Finally, Optas LLC bought a new stake in shares of Evergy in the first quarter worth $215,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EVRG. Weiss Ratings upgraded Evergy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Wells Fargo & Company set a $87.00 target price on Evergy in a report on Tuesday, April 21st. Bank of America reduced their price target on Evergy from $89.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. UBS Group increased their price target on Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, BTIG Research started coverage on Evergy in a research report on Thursday, April 9th. They set a “buy” rating and a $99.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.10.

Evergy Stock Performance

EVRG opened at $88.13 on Friday. Evergy Inc. has a twelve month low of $67.30 and a twelve month high of $88.18. The company has a fifty day moving average of $83.27 and a 200-day moving average of $80.29. The stock has a market cap of $20.31 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 2.29 and a beta of 0.54. The company has a quick ratio of 0.24, a current ratio of 0.45 and a debt-to-equity ratio of 1.29.

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

Evergy Dividend Announcement

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

Insider Transactions at Evergy

In other Evergy news, Director Sandra Aj Lawrence sold 600 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $81.41, for a total value of $48,846.00. Following the transaction, the director owned 680 shares in the company, valued at approximately $55,358.80. This represents a 46.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $83.46, for a total value of $900,283.02. Following the completion of the sale, the executive vice president directly owned 37,789 shares of the company’s stock, valued at $3,153,869.94. This trade represents a 22.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 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 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.