Greenwood Capital Associates LLC Acquires New Holdings in Evergy Inc. $EVRG

Greenwood Capital Associates LLC bought a new position in Evergy Inc. (NASDAQ:EVRG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,030 shares of the company’s stock, valued at approximately $1,558,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Evergy by 9.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,160,181 shares of the company’s stock valued at $100,274,000 after acquiring an additional 96,765 shares in the last quarter. New Mexico Educational Retirement Board increased its stake in Evergy by 7.5% during the 2nd quarter. New Mexico Educational Retirement Board now owns 11,450 shares of the company’s stock valued at $990,000 after buying an additional 800 shares during the period. Mufg Securities Americas Inc. raised its position in shares of Evergy by 9.0% during the 2nd quarter. Mufg Securities Americas Inc. now owns 6,943 shares of the company’s stock worth $600,000 after buying an additional 573 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Evergy by 5.2% in the second quarter. Van ECK Associates Corp now owns 134,442 shares of the company’s stock valued at $11,620,000 after acquiring an additional 6,637 shares in the last quarter. Finally, Nissay Asset Management Corp Japan boosted its holdings in shares of Evergy by 2.2% in the second quarter. Nissay Asset Management Corp Japan now owns 31,430 shares of the company’s stock valued at $2,716,000 after acquiring an additional 675 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Stock Performance

Shares of NASDAQ EVRG opened at $80.65 on Friday. The stock’s fifty day simple moving average is $84.61 and its 200 day simple moving average is $82.97. The stock has a market capitalization of $18.60 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 2.09 and a beta of 0.54. The company has a quick ratio of 0.21, a current ratio of 0.36 and a debt-to-equity ratio of 1.20. Evergy Inc. has a 52-week low of $70.42 and a 52-week high of $88.62.

Evergy (NASDAQ:EVRG) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.36 billion. Evergy had a return on equity of 9.20% and a net margin of 15.19%.During the same quarter last year, the company posted $0.82 EPS. As a group, sell-side analysts forecast that Evergy Inc. will post 4.25 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.695 per share. The ex-dividend date is Tuesday, August 18th. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. Evergy’s payout ratio is currently 70.56%.

Analyst Ratings Changes

Several equities research analysts recently commented on EVRG shares. BTIG Research set a $97.00 target price on Evergy in a report on Thursday, July 23rd. BMO Capital Markets lifted their price target on Evergy from $88.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. UBS Group boosted their price objective on Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Citigroup upped their price objective on Evergy from $95.00 to $97.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Barclays lifted their target price on Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Evergy has a consensus rating of “Moderate Buy” and an average target price of $90.60.

Insider Activity at Evergy

In other news, EVP Charles A. Caisley sold 10,787 shares of the firm’s stock in a transaction on 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 trade represents a 22.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sandra Aj Lawrence sold 600 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $81.41, for a total value of $48,846.00. Following the transaction, the director directly owned 680 shares in the company, valued at $55,358.80. The trade was a 46.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 11,587 shares of company stock valued at $965,655. 1.52% of the stock is owned by 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.