Quantinno Capital Management LP Increases Stake in Evergy Inc. $EVRG

Quantinno Capital Management LP grew its holdings in shares of Evergy Inc. (NASDAQ:EVRG) by 37.5% during the 1st quarter, HoldingsChannel reports. The firm owned 549,716 shares of the company’s stock after buying an additional 149,859 shares during the period. Quantinno Capital Management LP’s holdings in Evergy were worth $45,033,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Kestra Advisory Services LLC lifted its stake in shares of Evergy by 0.8% in the first quarter. Kestra Advisory Services LLC now owns 15,829 shares of the company’s stock worth $1,297,000 after buying an additional 124 shares in the last quarter. Retirement Planning Group LLC lifted its stake in Evergy by 0.6% in the 1st quarter. Retirement Planning Group LLC now owns 23,659 shares of the company’s stock worth $1,938,000 after purchasing an additional 137 shares in the last quarter. Earned Wealth Advisors LLC boosted its holdings in shares of Evergy by 4.9% during the 1st quarter. Earned Wealth Advisors LLC now owns 2,946 shares of the company’s stock worth $241,000 after purchasing an additional 137 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Evergy by 0.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 24,981 shares of the company’s stock valued at $1,826,000 after purchasing an additional 140 shares during the last quarter. Finally, Hilltop Holdings Inc. lifted its position in Evergy by 1.6% during the fourth quarter. Hilltop Holdings Inc. now owns 8,990 shares of the company’s stock worth $652,000 after buying an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Insider Transactions at Evergy

In related news, Director Sandra Aj Lawrence sold 600 shares of the company’s 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 transaction, the director owned 680 shares of the company’s stock, valued at approximately $55,358.80. This represents a 46.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 sale, the executive vice president owned 37,789 shares in the company, valued at approximately $3,153,869.94. This trade represents a 22.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 12,748 shares of company stock valued at $1,061,870. Insiders own 1.52% of the company’s stock.

Evergy Stock Down 1.9%

Evergy stock opened at $84.00 on Thursday. The firm has a market capitalization of $19.36 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 2.22 and a beta of 0.54. Evergy Inc. has a fifty-two week low of $69.54 and a fifty-two week high of $88.62. The stock’s fifty day moving average is $84.64 and its two-hundred day moving average is $81.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.24 and a current ratio of 0.45.

Evergy (NASDAQ:EVRG) last announced its earnings results on Wednesday, May 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the business posted $0.54 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts predict that Evergy Inc. will post 4.25 EPS for the current fiscal year.

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors 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 yield of 3.3%. The ex-dividend date was Friday, May 22nd. Evergy’s dividend payout ratio (DPR) is currently 73.74%.

Wall Street Analyst Weigh In

Several research firms have recently commented 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. Barclays lifted their target price on shares of Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. BTIG Research set a $97.00 price target on shares of Evergy in a report on Thursday, July 23rd. UBS Group increased their price objective on Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company set a $87.00 target price on Evergy in a research report on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $90.60.

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.