Sound Income Strategies LLC Has $676,000 Stake in Evergy Inc. $EVRG

Sound Income Strategies LLC reduced its position in Evergy Inc. (NASDAQ:EVRG) by 95.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,213 shares of the company’s stock after selling 176,213 shares during the period. Sound Income Strategies LLC’s holdings in Evergy were worth $676,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC grew 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 purchasing an additional 105,842 shares during the period. Franklin Resources Inc. raised its holdings in Evergy by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 6,091,518 shares of the company’s stock worth $441,574,000 after buying an additional 33,457 shares during the last quarter. Federated Hermes Inc. raised its holdings in Evergy by 1.6% during the fourth quarter. Federated Hermes Inc. now owns 3,760,548 shares of the company’s stock worth $272,602,000 after buying an additional 57,814 shares during the last quarter. Northern Trust Corp lifted its stake 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 buying an additional 263,619 shares in the last quarter. Finally, Truist Financial Corp lifted its stake 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 buying an additional 408,452 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction, the executive vice president owned 37,789 shares of the company’s stock, valued at $3,153,869.94. This represents a 22.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 600 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $81.41, for a total value of $48,846.00. Following the transaction, the director directly owned 680 shares in the company, valued at $55,358.80. This represents a 46.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 12,748 shares of company stock valued at $1,061,870 over the last three months. Company insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

EVRG has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday. Bank of America lowered their target price on shares of Evergy from $89.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Wells Fargo & Company set a $87.00 price target on shares of Evergy in a research report on Tuesday, April 21st. BTIG Research started coverage on Evergy in a report on Thursday, April 9th. They set a “buy” rating and a $99.00 price objective for the company. Finally, Weiss Ratings raised Evergy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Evergy currently has an average rating of “Moderate Buy” and a consensus price target of $90.10.

Evergy Price Performance

EVRG opened at $88.13 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 stock has a market cap of $20.31 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 2.29 and a beta of 0.54. Evergy Inc. has a twelve month low of $67.30 and a twelve month high of $88.18. The company’s 50-day moving average price is $83.27 and its two-hundred day moving average price is $80.29.

Evergy (NASDAQ:EVRG) last released its earnings results on Wednesday, May 6th. The company reported $0.69 earnings per share for the quarter, beating 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 firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the firm earned $0.54 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts expect that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Announces Dividend

The company 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 of this dividend was Friday, May 22nd. Evergy’s dividend payout ratio is 73.74%.

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.