Cullen Frost Bankers Inc. Raises Holdings in Evergy Inc. $EVRG

Cullen Frost Bankers Inc. boosted its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 6.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 297,079 shares of the company’s stock after acquiring an additional 18,283 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Evergy were worth $20,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Horizon Investments LLC raised its position in Evergy by 4.9% during the 1st quarter. Horizon Investments LLC now owns 3,353 shares of the company’s stock valued at $231,000 after purchasing an additional 158 shares during the last quarter. Rogco LP raised its position in Evergy by 16.4% during the 2nd quarter. Rogco LP now owns 1,120 shares of the company’s stock valued at $77,000 after purchasing an additional 158 shares during the last quarter. Triad Wealth Partners LLC raised its position in Evergy by 3.8% during the 2nd quarter. Triad Wealth Partners LLC now owns 4,389 shares of the company’s stock valued at $303,000 after purchasing an additional 159 shares during the last quarter. Crewe Advisors LLC raised its position in Evergy by 21.0% during the 2nd quarter. Crewe Advisors LLC now owns 1,089 shares of the company’s stock valued at $75,000 after purchasing an additional 189 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its position in Evergy by 4.4% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,944 shares of the company’s stock valued at $341,000 after purchasing an additional 210 shares during the last quarter. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Evergy Stock Down 0.7%

Shares of NASDAQ:EVRG opened at $78.12 on Wednesday. Evergy Inc. has a 52-week low of $59.23 and a 52-week high of $79.32. The firm has a market capitalization of $17.98 billion, a P/E ratio of 21.46, a P/E/G ratio of 3.64 and a beta of 0.57. The stock has a 50 day moving average price of $73.84 and a 200-day moving average price of $70.06. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50.

Evergy (NASDAQ:EVRG) last announced its earnings results on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the company earned $0.90 EPS. The business’s revenue was down .7% compared to the same quarter last year. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. As a group, equities research analysts anticipate that Evergy Inc. will post 3.83 EPS for the current fiscal year.

Evergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were paid a $0.6675 dividend. The ex-dividend date was Friday, August 22nd. This represents a $2.67 annualized dividend and a dividend yield of 3.4%. Evergy’s dividend payout ratio is presently 73.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Mizuho upped their price target on Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Barclays reaffirmed an “outperform” rating on shares of Evergy in a research report on Thursday, October 9th. Jefferies Financial Group increased their target price on Evergy from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Evergy in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $78.07.

Insider Buying and Selling at Evergy

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $72.33, for a total value of $578,640.00. Following the sale, the senior vice president owned 499 shares in the company, valued at $36,092.67. This represents a 94.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.42% of the stock is owned by insiders.

Evergy Company Profile

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.