Insider Selling: Evergy, Inc. (NYSE:EVRG) SVP Sells $550,742.68 in Stock

Evergy, Inc. (NYSE:EVRG) SVP Charles A. Caisley sold 9,236 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total value of $550,742.68. Following the completion of the sale, the senior vice president now directly owns 33,425 shares of the company’s stock, valued at $1,993,132.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Evergy Stock Performance

Evergy stock opened at $59.76 on Friday. Evergy, Inc. has a 1-year low of $46.92 and a 1-year high of $61.14. The company has a current ratio of 0.59, a quick ratio of 0.35 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $13.74 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 3.07 and a beta of 0.62. The firm’s 50 day simple moving average is $57.08 and its 200 day simple moving average is $54.12.

Evergy (NYSE:EVRG) last issued its quarterly earnings data on Friday, August 9th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. Evergy had a return on equity of 8.50% and a net margin of 13.12%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the business posted $0.81 earnings per share. As a group, analysts expect that Evergy, Inc. will post 3.85 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.6425 per share. This represents a $2.57 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Tuesday, August 20th. Evergy’s payout ratio is 83.17%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Evergy by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 31,046,328 shares of the company’s stock worth $1,657,253,000 after buying an additional 288,913 shares in the last quarter. Millennium Management LLC grew its position in Evergy by 38.6% in the second quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock worth $195,089,000 after acquiring an additional 1,026,374 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Evergy by 1,038.7% in the fourth quarter. Point72 Asset Management L.P. now owns 3,612,200 shares of the company’s stock valued at $188,557,000 after acquiring an additional 3,294,967 shares during the last quarter. Federated Hermes Inc. raised its position in Evergy by 18.8% during the second quarter. Federated Hermes Inc. now owns 3,490,674 shares of the company’s stock valued at $184,901,000 after purchasing an additional 552,455 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Evergy by 5.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,686,541 shares of the company’s stock worth $141,787,000 after purchasing an additional 134,236 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on EVRG shares. Barclays increased their target price on shares of Evergy from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Wells Fargo & Company increased their target price on Evergy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Evergy has an average rating of “Moderate Buy” and a consensus price target of $58.33.

About Evergy

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.