California Public Employees Retirement System Sells 71,021 Shares of Evergy Inc. $EVRG

California Public Employees Retirement System lessened its position in Evergy Inc. (NASDAQ:EVRG) by 11.6% in the first quarter, HoldingsChannel reports. The firm owned 538,644 shares of the company’s stock after selling 71,021 shares during the quarter. California Public Employees Retirement System’s holdings in Evergy were worth $44,126,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. raised its holdings in Evergy by 476.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,207,882 shares of the company’s stock worth $87,559,000 after purchasing an additional 998,400 shares in the last quarter. Freestone Grove Partners LP boosted its holdings in shares of Evergy by 321.1% during the 4th quarter. Freestone Grove Partners LP now owns 854,739 shares of the company’s stock valued at $61,960,000 after buying an additional 651,738 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Evergy by 122.4% in the 4th quarter. Renaissance Technologies LLC now owns 811,202 shares of the company’s stock worth $58,804,000 after buying an additional 446,400 shares during the period. BROOKFIELD Corp ON bought a new position in shares of Evergy in the 2nd quarter worth about $29,644,000. Finally, Zimmer Partners LP increased its stake in shares of Evergy by 147.8% in the 4th quarter. Zimmer Partners LP now owns 137,500 shares of the company’s stock worth $9,967,000 after acquiring an additional 425,000 shares in the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Price Performance

Shares of NASDAQ:EVRG opened at $85.16 on Tuesday. The business has a fifty day moving average price of $84.16 and a 200-day moving average price of $81.34. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.45 and a quick ratio of 0.24. The company has a market capitalization of $19.63 billion, a PE ratio of 22.59, a PEG ratio of 2.22 and a beta of 0.54. Evergy Inc. has a 1-year low of $68.00 and a 1-year high of $88.62.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Evergy had a net margin of 14.63% and a return on equity of 9.09%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.54 earnings per share. As a group, equities analysts expect that Evergy Inc. will post 4.25 EPS for the current fiscal year.

Evergy Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on EVRG shares. Barclays lifted their price target on shares of Evergy from $89.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, June 30th. Bank of America decreased their target price on shares of Evergy from $89.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Wells Fargo & Company set a $87.00 target price on shares of Evergy in a report on Tuesday, April 21st. BTIG Research initiated coverage on Evergy in a research report on Thursday, April 9th. They issued a “buy” rating and a $99.00 price target on the stock. Finally, Weiss Ratings raised Evergy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $90.10.

Insider Activity at Evergy

In other news, Director Sandra Aj Lawrence sold 761 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $83.31, for a total value of $63,398.91. Following the completion of the transaction, the director owned 1,680 shares in the company, valued at $139,960.80. The trade was a 31.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $83.46, for a total value of $900,283.02. Following the sale, the executive vice president directly 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 disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 12,748 shares of company stock worth $1,061,870 over the last ninety days. 1.52% of the stock is currently owned by insiders.

Evergy 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.