Franklin Street Advisors Inc. NC Makes New $6.04 Million Investment in Evergy Inc. $EVRG

Franklin Street Advisors Inc. NC acquired a new position in shares of Evergy Inc. (NASDAQ:EVRG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 87,617 shares of the company’s stock, valued at approximately $6,039,000.

Other institutional investors also recently bought and sold shares of the company. Bfsg LLC purchased a new stake in Evergy during the first quarter worth approximately $25,000. Alpine Bank Wealth Management purchased a new stake in Evergy during the first quarter worth approximately $32,000. LRI Investments LLC purchased a new stake in Evergy during the first quarter worth approximately $32,000. Clearstead Trust LLC purchased a new stake in Evergy during the first quarter worth approximately $32,000. Finally, Olde Wealth Management LLC purchased a new stake in Evergy during the first quarter worth approximately $32,000. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EVRG has been the subject of several research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Evergy in a research note on Saturday, September 27th. Jefferies Financial Group set a $78.00 target price on shares of Evergy and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Finally, Mizuho boosted their target price on shares of Evergy from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $74.44.

Evergy Trading Up 0.7%

NASDAQ EVRG opened at $76.62 on Friday. The company’s fifty day simple moving average is $72.38 and its 200-day simple moving average is $69.22. Evergy Inc. has a 52 week low of $59.00 and a 52 week high of $77.46. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The stock has a market cap of $17.63 billion, a P/E ratio of 21.05, a PEG ratio of 3.33 and a beta of 0.57.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Equities research analysts predict 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 issued a $0.6675 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.67 annualized dividend and a yield of 3.5%. Evergy’s dividend payout ratio is currently 73.35%.

Insider Transactions at Evergy

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

Evergy 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.