Evergy Inc. $EVRG Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its stake in Evergy Inc. (NASDAQ:EVRG) by 37.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 507,902 shares of the company’s stock after selling 303,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Evergy were worth $41,607,000 as of its most recent filing with the SEC.

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

Evergy Price Performance

Evergy stock opened at $85.84 on Tuesday. Evergy Inc. has a 52-week low of $68.05 and a 52-week high of $88.62. The firm has a fifty day moving average of $84.57 and a 200-day moving average of $81.82. The firm has a market capitalization of $19.79 billion, a P/E ratio of 22.77, a PEG ratio of 2.26 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 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. The business had revenue of $1.44 billion for 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 business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 EPS. As a group, analysts predict that Evergy Inc. will post 4.25 EPS for the current year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, May 22nd were paid 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 was Friday, May 22nd. Evergy’s payout ratio is currently 73.74%.

Insider Transactions at Evergy

In other news, EVP Charles A. Caisley sold 10,787 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was 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 owned 37,789 shares of the company’s stock, valued at $3,153,869.94. This represents a 22.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sandra Aj Lawrence sold 761 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $83.31, for a total value of $63,398.91. Following the completion of the sale, the director owned 1,680 shares of the company’s stock, valued at approximately $139,960.80. This trade represents a 31.18% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 12,748 shares of company stock worth $1,061,870. 1.52% of the stock is currently owned by insiders.

Analyst Ratings Changes

EVRG has been the topic of several research reports. BMO Capital Markets increased their target price on Evergy from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Bank of America lowered their price target on Evergy from $89.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Citigroup upped their price target on Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company set a $87.00 price objective on Evergy in a report on Tuesday, April 21st. Finally, BTIG Research set a $97.00 price objective on Evergy in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.60.

About Evergy

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.