Texas Permanent School Fund Corp increased its holdings in shares of Evergy, Inc. (NYSE:EVRG – Free Report) by 46.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,854 shares of the company’s stock after acquiring an additional 15,241 shares during the period. Texas Permanent School Fund Corp’s holdings in Evergy were worth $2,925,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Moneta Group Investment Advisors LLC increased its position in shares of Evergy by 201,851.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 93,428,842 shares of the company’s stock valued at $5,879,477,000 after buying an additional 93,382,579 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Evergy by 1.8% during the first quarter. Vanguard Group Inc. now owns 29,339,970 shares of the company’s stock worth $2,005,093,000 after purchasing an additional 509,404 shares in the last quarter. State Street Corp lifted its stake in Evergy by 10.8% in the 1st quarter. State Street Corp now owns 13,874,020 shares of the company’s stock valued at $948,151,000 after buying an additional 1,356,321 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Evergy by 12.1% in the 4th quarter. Franklin Resources Inc. now owns 5,034,404 shares of the company’s stock worth $316,815,000 after buying an additional 541,432 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Evergy by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 4,968,978 shares of the company’s stock valued at $312,169,000 after acquiring an additional 271,913 shares in the last quarter. Hedge funds and other institutional investors own 83.74% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on EVRG. Guggenheim decreased their price objective on Evergy from $72.00 to $68.00 in a report on Friday, July 7th. Bank of America upped their target price on Evergy from $55.00 to $59.00 and gave the company an “underperform” rating in a report on Friday, April 14th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.00.
Evergy Stock Performance
Evergy (NYSE:EVRG – Get Free Report) last issued its quarterly earnings results on Friday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. Evergy had a net margin of 13.03% and a return on equity of 9.13%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. On average, research analysts predict that Evergy, Inc. will post 3.61 EPS for the current fiscal year.
Evergy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Friday, May 19th were issued a dividend of $0.6125 per share. The ex-dividend date was Thursday, May 18th. This represents a $2.45 dividend on an annualized basis and a yield of 4.00%. Evergy’s payout ratio is currently 73.13%.
Insider Transactions at Evergy
In other Evergy news, Director Mary L. Landrieu sold 1,170 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $59.62, for a total transaction of $69,755.40. Following the transaction, the director now owns 4,210 shares of the company’s stock, valued at $251,000.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Mary L. Landrieu sold 1,170 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $59.62, for a total value of $69,755.40. Following the sale, the director now directly owns 4,210 shares of the company’s stock, valued at $251,000.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Lesley Lissette Elwell sold 1,328 shares of Evergy stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $57.67, for a total value of $76,585.76. Following the sale, the senior vice president now owns 27 shares in the company, valued at $1,557.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,021 shares of company stock worth $303,575. 3.08% of the stock is currently owned by insiders.
About Evergy
Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Kansas and Missouri, the United States. The company generates electricity through coal, hydroelectric, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources.
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