Summit Global Investments Purchases New Holdings in Evergy Inc. $EVRG

Summit Global Investments acquired a new position in shares of Evergy Inc. (NASDAQ:EVRG) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 62,992 shares of the company’s stock, valued at approximately $5,444,000.

Other large investors have also recently bought and sold shares of the company. MidFirst Bank acquired a new stake in shares of Evergy in the 4th quarter valued at $25,000. Prosperity Bancshares Inc bought a new position in Evergy in the fourth quarter valued at about $32,000. Triumph Capital Management boosted its holdings in Evergy by 104.8% in the fourth quarter. Triumph Capital Management now owns 508 shares of the company’s stock valued at $37,000 after acquiring an additional 260 shares during the last quarter. Transamerica Financial Advisors LLC increased its position in Evergy by 163.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 529 shares of the company’s stock worth $38,000 after purchasing an additional 328 shares during the period. Finally, Cedar Mountain Advisors LLC acquired a new stake in Evergy in the first quarter worth about $40,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Stock Performance

Shares of EVRG stock opened at $84.03 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.21 and a current ratio of 0.36. Evergy Inc. has a 52 week low of $70.42 and a 52 week high of $88.62. The company’s 50 day moving average price is $84.74 and its two-hundred day moving average price is $82.60. The company has a market capitalization of $19.37 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 2.17 and a beta of 0.54.

Evergy (NASDAQ:EVRG) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.07. Evergy had a net margin of 15.19% and a return on equity of 9.20%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. Evergy has set its FY 2026 guidance at 4.140-4.340 EPS. On average, analysts expect that Evergy Inc. will post 4.25 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, August 18th will be given a $0.695 dividend. This represents a $2.78 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, August 18th. Evergy’s payout ratio is currently 70.56%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EVRG shares. Barclays boosted their price objective on Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Wells Fargo & Company set a $87.00 price target on shares of Evergy in a research report on Tuesday, April 21st. BTIG Research set a $97.00 price target on shares of Evergy in a research note on Thursday, July 23rd. Citigroup increased their price objective on shares of Evergy from $95.00 to $97.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Evergy in a research note on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.60.

Insiders Place Their Bets

In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of Evergy 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 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 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 761 shares of Evergy 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 directly owned 1,680 shares in the company, valued at $139,960.80. This represents a 31.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 12,748 shares of company stock valued at $1,061,870. Company insiders own 1.52% of the company’s stock.

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.