Sound Income Strategies LLC Trims Position in Evergy Inc. $EVRG

Sound Income Strategies LLC lessened its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 16.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 184,426 shares of the company’s stock after selling 35,837 shares during the quarter. Sound Income Strategies LLC owned about 0.08% of Evergy worth $14,098,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EVRG. Massachusetts Financial Services Co. MA grew its holdings 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 valued at $155,597,000 after buying an additional 1,588,100 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Evergy by 969.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,329,424 shares of the company’s stock valued at $101,063,000 after buying an additional 1,205,101 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new position in Evergy during the 3rd quarter valued at about $72,860,000. Truist Financial Corp grew its holdings in Evergy by 169.2% during the 3rd 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 in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Evergy by 136.7% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EVRG. Wall Street Zen raised Evergy from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Mizuho set a $82.00 target price on Evergy in a report on Monday, February 23rd. Wells Fargo & Company lifted their target price on Evergy from $79.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, February 20th. UBS Group lowered Evergy from a “buy” rating to a “neutral” rating and lifted their target price for the company from $86.00 to $88.00 in a report on Friday, February 13th. Finally, Barclays lifted their target price on Evergy from $82.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.75.

Insider Transactions at Evergy

In related news, Director Ann D. Murtlow sold 2,847 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $82.34, for a total value of $234,421.98. Following the completion of the sale, the director owned 2,311 shares in the company, valued at $190,287.74. The trade was a 55.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Heather A. Humphrey sold 3,650 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was 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 owned 44,007 shares of the company’s stock, valued at $3,635,418.27. The trade was a 7.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 8,937 shares of company stock valued at $736,492. 1.42% of the stock is owned by corporate insiders.

Evergy Stock Down 0.2%

Shares of NASDAQ EVRG opened at $82.65 on Tuesday. Evergy Inc. has a 12 month low of $61.94 and a 12 month high of $85.23. The company has a current ratio of 0.49, a quick ratio of 0.27 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 2.15 and a beta of 0.61. The business has a 50-day moving average of $80.81 and a 200-day moving average of $77.31.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings data on Saturday, January 31st. The company reported $0.42 EPS for the quarter. Evergy had a return on equity of 8.79% and a net margin of 14.35%. Sell-side analysts expect that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th were issued 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 dividend yield of 3.4%. Evergy’s payout ratio is presently 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.