Energy Income Partners LLC Has $101.40 Million Position in Evergy Inc. $EVRG

Energy Income Partners LLC increased its holdings in shares of Evergy Inc. (NASDAQ:EVRG) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,237,749 shares of the company’s stock after purchasing an additional 15,195 shares during the period. Evergy makes up 1.6% of Energy Income Partners LLC’s portfolio, making the stock its 18th biggest position. Energy Income Partners LLC’s holdings in Evergy were worth $101,396,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Excelsior Advisor Network LLC acquired a new stake in Evergy during the 1st quarter worth approximately $233,000. Quantinno Capital Management LP boosted its holdings in shares of Evergy by 37.5% in the first quarter. Quantinno Capital Management LP now owns 549,716 shares of the company’s stock valued at $45,033,000 after buying an additional 149,859 shares during the period. Gateway Wealth Partners LLC acquired a new position in shares of Evergy in the first quarter valued at approximately $258,000. 44 Wealth Management LLC increased its position in shares of Evergy by 96.8% during the first quarter. 44 Wealth Management LLC now owns 13,064 shares of the company’s stock worth $1,070,000 after acquiring an additional 6,425 shares in the last quarter. Finally, Modern Wealth Management LLC increased its position in shares of 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 acquiring an additional 211 shares in the last quarter. Institutional investors own 87.24% of the company’s stock.

Evergy Stock Down 1.5%

Evergy stock opened at $85.84 on Tuesday. The company’s 50-day moving average price is $84.57 and its two-hundred day moving average price is $81.82. The company has a quick ratio of 0.24, a current ratio of 0.45 and a debt-to-equity ratio of 1.29. The stock has a market cap of $19.79 billion, a P/E ratio of 22.77, a P/E/G ratio of 2.26 and a beta of 0.54. Evergy Inc. has a twelve month low of $68.05 and a twelve month high of $88.62.

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

Evergy Dividend Announcement

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

Insider Buying and Selling at Evergy

In related news, EVP Charles A. Caisley sold 10,787 shares of the business’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 directly owned 37,789 shares in the company, valued at $3,153,869.94. The trade was a 22.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 completion of the transaction, the director directly owned 680 shares in the company, valued at approximately $55,358.80. This represents a 46.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,748 shares of company stock valued at $1,061,870 over the last 90 days. 1.52% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on EVRG. Citigroup boosted their price objective on shares of Evergy from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Friday. Weiss Ratings upgraded Evergy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. 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 note on Wednesday, July 22nd. Bank of America dropped their price target on Evergy from $89.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Finally, BTIG Research set a $97.00 price objective on Evergy in a research report on Thursday. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.