Wedge Capital Management L L P NC Cuts Stock Position in Evergy Inc. $EVRG

Wedge Capital Management L L P NC lessened its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 16.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,441 shares of the company’s stock after selling 34,799 shares during the period. Wedge Capital Management L L P NC owned approximately 0.08% of Evergy worth $15,163,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EVRG. MidFirst Bank bought a new stake in Evergy in the fourth quarter worth $25,000. Prosperity Bancshares Inc bought a new position in shares of Evergy during the fourth quarter valued at $32,000. Triumph Capital Management raised its position in shares of Evergy by 104.8% in the 4th quarter. Triumph Capital Management now owns 508 shares of the company’s stock worth $37,000 after purchasing an additional 260 shares during the last quarter. Transamerica Financial Advisors LLC raised its position in shares of Evergy by 163.2% in the 4th 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 last quarter. Finally, Cedar Mountain Advisors LLC bought a new position in Evergy in the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Insider Buying and Selling at Evergy

In related news, EVP Charles A. Caisley sold 10,787 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $83.46, for a total transaction of $900,283.02. Following the completion of the sale, the executive vice president owned 37,789 shares in the company, valued at approximately $3,153,869.94. This represents a 22.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $83.31, for a total value of $63,398.91. Following the sale, the director owned 1,680 shares of the company’s stock, valued at approximately $139,960.80. This trade represents a 31.18% decrease in their position. 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 three months. Insiders own 1.52% of the company’s stock.

Evergy Stock Performance

Shares of EVRG stock opened at $82.03 on Wednesday. The company has a 50 day moving average price of $84.65 and a 200-day moving average price of $82.48. Evergy Inc. has a 52 week low of $70.42 and a 52 week high of $88.62. The firm has a market capitalization of $18.91 billion, a PE ratio of 20.82, a P/E/G ratio of 2.13 and a beta of 0.54. The company has a quick ratio of 0.21, a current ratio of 0.36 and a debt-to-equity ratio of 1.20.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. Evergy has set its FY 2026 guidance at 4.140-4.340 EPS. As a group, equities research analysts expect that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Evergy’s dividend payout ratio is presently 70.56%.

Wall Street Analysts Forecast Growth

EVRG has been the subject of a number of analyst reports. Bank of America reduced their price objective on shares of Evergy from $89.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. UBS Group raised their price target on shares of Evergy from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Citigroup increased their target price on Evergy from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, July 24th. 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. Finally, BTIG Research set a $97.00 price target on Evergy in a research note on Thursday, July 23rd. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.60.

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.