BROOKFIELD Corp ON Sells 127,017 Shares of Evergy Inc. $EVRG

BROOKFIELD Corp ON reduced its position in shares of Evergy Inc. (NASDAQ:EVRG) by 34.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 237,114 shares of the company’s stock after selling 127,017 shares during the quarter. BROOKFIELD Corp ON’s holdings in Evergy were worth $19,424,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of EVRG. Geode Capital Management LLC raised its position in Evergy by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 6,447,150 shares of the company’s stock valued at $465,684,000 after buying an additional 105,842 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Evergy by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 6,091,518 shares of the company’s stock worth $441,574,000 after acquiring an additional 33,457 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Evergy by 1.6% during the 4th quarter. Federated Hermes Inc. now owns 3,760,548 shares of the company’s stock worth $272,602,000 after acquiring an additional 57,814 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Evergy by 10.6% in the third quarter. Northern Trust Corp now owns 2,760,494 shares of the company’s stock valued at $209,853,000 after purchasing an additional 263,619 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in shares of Evergy by 28.4% in the fourth quarter. Truist Financial Corp now owns 1,847,410 shares of the company’s stock valued at $133,919,000 after purchasing an additional 408,452 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Charles A. Caisley sold 10,787 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $83.46, for a total transaction of $900,283.02. Following the transaction, 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 Securities & Exchange Commission, 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 761 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $83.31, for a total transaction of $63,398.91. Following the completion of the sale, the director directly owned 1,680 shares in the company, valued at approximately $139,960.80. The trade was a 31.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,748 shares of company stock worth $1,061,870 over the last 90 days. 1.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EVRG. Weiss Ratings raised shares of Evergy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. UBS Group lifted their price target on shares of Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Barclays boosted their price target on shares of Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. Citigroup increased their price objective on shares of Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday. Finally, BTIG Research set a $97.00 target price on Evergy in a research report on Thursday. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Evergy currently has an average rating of “Moderate Buy” and a consensus target price of $90.60.

Evergy Stock Performance

NASDAQ EVRG opened at $87.18 on Monday. Evergy Inc. has a 12 month low of $68.05 and a 12 month high of $88.62. The company has a current ratio of 0.45, a quick ratio of 0.24 and a debt-to-equity ratio of 1.29. The stock has a 50 day moving average of $84.49 and a 200-day moving average of $81.73. The company has a market cap of $20.10 billion, a PE ratio of 23.12, a PEG ratio of 2.26 and a beta of 0.54.

Evergy (NASDAQ:EVRG) last issued its earnings results on Wednesday, May 6th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. Evergy had a net margin of 14.63% and a return on equity of 9.09%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities research analysts anticipate that Evergy Inc. will post 4.25 EPS for the current fiscal year.

Evergy Dividend Announcement

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

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.