Evergy Inc. $EVRG Stake Lessened by Gabelli Funds LLC

Gabelli Funds LLC lessened its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,041,149 shares of the company’s stock after selling 17,333 shares during the quarter. Gabelli Funds LLC owned about 0.45% of Evergy worth $85,291,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC boosted its stake in Evergy by 0.8% during the 1st quarter. Kestra Advisory Services LLC now owns 15,829 shares of the company’s stock valued at $1,297,000 after purchasing an additional 124 shares in the last quarter. Retirement Planning Group LLC raised its stake in shares of Evergy by 0.6% in the 1st quarter. Retirement Planning Group LLC now owns 23,659 shares of the company’s stock worth $1,938,000 after buying an additional 137 shares in the last quarter. Earned Wealth Advisors LLC raised its stake in shares of Evergy by 4.9% in the 1st quarter. Earned Wealth Advisors LLC now owns 2,946 shares of the company’s stock worth $241,000 after buying an additional 137 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Evergy by 0.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 24,981 shares of the company’s stock valued at $1,826,000 after buying an additional 140 shares during the period. Finally, Hilltop Holdings Inc. lifted its holdings in shares of Evergy by 1.6% in the fourth quarter. Hilltop Holdings Inc. now owns 8,990 shares of the company’s stock valued at $652,000 after buying an additional 142 shares during the period. Institutional investors own 87.24% of the company’s stock.

Evergy Stock Performance

EVRG opened at $87.18 on Friday. 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 firm has a market cap of $20.10 billion, a PE ratio of 23.12, a P/E/G ratio of 2.25 and a beta of 0.54. The business has a fifty day simple moving average of $84.49 and a 200-day simple moving average of $81.66. Evergy Inc. has a fifty-two week low of $68.05 and a fifty-two week high of $88.62.

Evergy (NASDAQ:EVRG) last announced its earnings results 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 for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. Evergy’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities analysts predict that Evergy Inc. will post 4.25 EPS for the current fiscal year.

Evergy Announces Dividend

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

Analysts Set New Price Targets

EVRG has been the topic of a number of research analyst reports. 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. Weiss Ratings raised shares of Evergy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Citigroup raised 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. BMO Capital Markets lifted their price objective on shares of Evergy from $88.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, UBS Group boosted their target price on shares of Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.60.

Insider Activity

In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $83.46, for a total value of $900,283.02. Following the completion of the transaction, the executive vice president directly owned 37,789 shares in the company, 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 through 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 Evergy stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $81.41, for a total transaction 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 trade represents 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 have sold 12,748 shares of company stock worth $1,061,870. Corporate 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.