First Citizens Bank & Trust Co. Has $17.25 Million Stock Position in Evergy Inc. $EVRG

First Citizens Bank & Trust Co. grew its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 65.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 210,622 shares of the company’s stock after buying an additional 83,155 shares during the quarter. First Citizens Bank & Trust Co. owned approximately 0.09% of Evergy worth $17,254,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC acquired a new stake in shares of Evergy during the 4th quarter valued at $257,000. United Services Automobile Association acquired a new position in Evergy in the 1st quarter worth about $223,000. Empowered Funds LLC increased its holdings in Evergy by 19.5% in the 1st quarter. Empowered Funds LLC now owns 4,648 shares of the company’s stock worth $320,000 after purchasing an additional 758 shares in the last quarter. Woodline Partners LP raised its position in Evergy by 40.7% in the first quarter. Woodline Partners LP now owns 19,429 shares of the company’s stock valued at $1,340,000 after purchasing an additional 5,618 shares during the last quarter. Finally, Focus Partners Wealth raised its position in Evergy by 7.3% in the first quarter. Focus Partners Wealth now owns 13,791 shares of the company’s stock valued at $951,000 after purchasing an additional 939 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Evergy news, Director Sandra Aj Lawrence sold 600 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $81.41, for a total transaction of $48,846.00. Following the completion of the sale, the director owned 680 shares of the company’s stock, valued at approximately $55,358.80. This represents a 46.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles A. Caisley sold 10,787 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 37,789 shares of the company’s stock, valued at approximately $3,153,869.94. The trade was a 22.21% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 12,748 shares of company stock valued at $1,061,870 in the last three months. Insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on EVRG. Bank of America reduced their price target on Evergy from $89.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. BTIG Research began coverage on shares of Evergy in a report on Thursday, April 9th. They issued a “buy” rating and a $99.00 price objective for the company. Weiss Ratings upgraded shares of Evergy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. 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. Finally, Wells Fargo & Company set a $87.00 price target on shares of Evergy in a research report on Tuesday, April 21st. 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.10.

Evergy Stock Down 0.3%

Shares of EVRG opened at $84.92 on Wednesday. The company has a market capitalization of $19.58 billion, a PE ratio of 22.53, a PEG ratio of 2.21 and a beta of 0.54. Evergy Inc. has a 12 month low of $68.00 and a 12 month high of $88.62. The stock’s 50-day moving average price is $84.19 and its two-hundred day moving average price is $81.43. The company has a current ratio of 0.45, a quick ratio of 0.24 and a debt-to-equity ratio of 1.29.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. On average, analysts anticipate that Evergy Inc. will post 4.24 EPS for the current year.

Evergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, May 22nd were issued a $0.695 dividend. The ex-dividend date was Friday, May 22nd. This represents a $2.78 annualized dividend and a yield of 3.3%. Evergy’s dividend payout ratio is presently 73.74%.

About Evergy

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.