QRG Capital Management Inc. Acquires 11,077 Shares of Evergy Inc. $EVRG

QRG Capital Management Inc. increased its holdings in Evergy Inc. (NASDAQ:EVRG) by 7.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,560 shares of the company’s stock after acquiring an additional 11,077 shares during the period. QRG Capital Management Inc.’s holdings in Evergy were worth $12,416,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oxbow Advisors LLC grew its holdings in Evergy by 1.3% during the first quarter. Oxbow Advisors LLC now owns 48,493 shares of the company’s stock worth $3,973,000 after buying an additional 602 shares in the last quarter. HB Wealth Management LLC boosted its holdings in Evergy by 28.0% during the 1st quarter. HB Wealth Management LLC now owns 12,193 shares of the company’s stock worth $999,000 after acquiring an additional 2,669 shares during the last quarter. PFG Investments LLC boosted its holdings in Evergy by 44.4% during the 1st quarter. PFG Investments LLC now owns 6,078 shares of the company’s stock worth $498,000 after acquiring an additional 1,869 shares during the last quarter. Sierra Summit Advisors LLC grew its stake in shares of Evergy by 5.7% in the 1st quarter. Sierra Summit Advisors LLC now owns 13,483 shares of the company’s stock worth $1,105,000 after acquiring an additional 725 shares in the last quarter. Finally, Optas LLC bought a new stake in shares of Evergy in the 1st quarter worth $215,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Evergy

In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of the 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 completion of the transaction, the executive vice president owned 37,789 shares in the company, valued at $3,153,869.94. This trade represents a 22.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 Evergy stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $83.31, for a total transaction of $63,398.91. Following the completion of the transaction, the director owned 1,680 shares of the company’s stock, valued at $139,960.80. The trade was a 31.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,748 shares of company stock valued at $1,061,870 in the last quarter. 1.52% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EVRG has been the topic of several analyst reports. UBS Group boosted their price target on shares of Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Weiss Ratings upgraded shares of Evergy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Wells Fargo & Company set a $87.00 target price on shares of Evergy in a research report on Tuesday, April 21st. Barclays boosted their target price on Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Bank of America reduced their target price on Evergy from $89.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.10.

Evergy Stock Performance

Shares of EVRG stock 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 firm has a market cap of $20.31 billion, a P/E ratio of 23.38, a PEG ratio of 2.29 and a beta of 0.54. The company has a 50 day moving average of $83.27 and a 200-day moving average of $80.29. Evergy Inc. has a 12-month low of $67.30 and a 12-month high of $88.18.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data 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 business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the company earned $0.54 earnings per share. Evergy’s revenue was up 5.0% compared to the same quarter last year. Sell-side analysts anticipate 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 was paid on Thursday, June 18th. Stockholders of record on Friday, May 22nd were given a dividend of $0.695 per share. 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 is currently 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.