Evergy Inc. $EVRG Stock Position Lessened by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC lowered its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 23.6% during the 4th quarter, HoldingsChannel reports. The fund owned 586,192 shares of the company’s stock after selling 180,940 shares during the period. Evergy comprises 2.7% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 9th biggest holding. HITE Hedge Asset Management LLC’s holdings in Evergy were worth $42,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in EVRG. Allspring Global Investments Holdings LLC lifted its holdings in shares of Evergy by 0.6% during 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. Moneta Group Investment Advisors LLC lifted its holdings in shares of Evergy by 0.3% during the third quarter. Moneta Group Investment Advisors LLC now owns 46,972 shares of the company’s stock valued at $3,571,000 after purchasing an additional 145 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Evergy by 17.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 979 shares of the company’s stock valued at $74,000 after purchasing an additional 147 shares during the last quarter. Modern Wealth Management LLC raised its holdings in Evergy by 1.9% in the 3rd quarter. Modern Wealth Management LLC now owns 7,926 shares of the company’s stock worth $603,000 after acquiring an additional 148 shares during the last quarter. Finally, Composition Wealth LLC raised its holdings in Evergy by 3.9% in the 4th quarter. Composition Wealth LLC now owns 3,920 shares of the company’s stock worth $284,000 after acquiring an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Analyst Upgrades and Downgrades

EVRG has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Evergy from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Wells Fargo & Company set a $87.00 price objective on shares of Evergy in a report on Tuesday, April 21st. Mizuho set a $82.00 price objective on shares of Evergy in a report on Monday, February 23rd. Bank of America decreased their price objective on shares of Evergy from $89.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, Citigroup boosted their price objective on shares of Evergy from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.60.

Evergy Price Performance

Shares of NASDAQ EVRG opened at $83.85 on Friday. Evergy Inc. has a twelve month low of $66.19 and a twelve month high of $85.27. The firm has a market cap of $19.33 billion, a P/E ratio of 22.24, a PEG ratio of 2.15 and a beta of 0.54. The company has a 50 day moving average of $82.38 and a 200 day moving average of $79.21. The company has a quick ratio of 0.24, a current ratio of 0.45 and a debt-to-equity ratio of 1.29.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.69 earnings per share 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 analyst estimates of $1.27 billion. During the same period in the previous year, the business earned $0.54 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Evergy has set its FY 2026 guidance at 4.140-4.340 EPS. As a group, research analysts expect that Evergy Inc. will post 4.25 EPS for the current fiscal year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, May 22nd will be paid a dividend of $0.695 per share. The ex-dividend date is Friday, May 22nd. This represents a $2.78 dividend on an annualized basis and a yield of 3.3%. Evergy’s payout ratio is currently 73.74%.

Insiders Place Their Bets

In other Evergy news, Director Sandra Aj Lawrence sold 600 shares of the business’s stock in a transaction 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 completion of the sale, the director directly owned 680 shares in the company, valued at approximately $55,358.80. The trade was a 46.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 1,961 shares of company stock worth $161,587. 1.52% of the stock is currently owned by insiders.

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.