Allspring Global Investments Holdings LLC Sells 25,830 Shares of Evergy Inc. $EVRG

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Evergy Inc. by 50.2%, selling 25,830 shares and now owning 25,589 shares valued at $1,777,000 as of its latest SEC filing.
• Insider transactions are notable, with SVP Lesley Lissette Elwell selling 8,000 shares at an average price of $72.33, which led to a 94.13% reduction in their ownership to 499 shares valued at over $36,000.
• Evergy recently reported a net margin of 14.29% and a quarterly earnings per share (EPS) of $0.82, exceeding analysts' expectations, despite revenue declining by 0.7% year-over-year.

Allspring Global Investments Holdings LLC lowered its stake in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 50.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,589 shares of the company's stock after selling 25,830 shares during the period. Allspring Global Investments Holdings LLC's holdings in Evergy were worth $1,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Horizon Investments LLC raised its holdings in shares of Evergy by 4.9% during the first quarter. Horizon Investments LLC now owns 3,353 shares of the company's stock valued at $231,000 after purchasing an additional 158 shares during the period. Rogco LP raised its holdings in shares of Evergy by 16.4% during the second quarter. Rogco LP now owns 1,120 shares of the company's stock valued at $77,000 after purchasing an additional 158 shares during the period. Triad Wealth Partners LLC raised its holdings in shares of Evergy by 3.8% during the second quarter. Triad Wealth Partners LLC now owns 4,389 shares of the company's stock valued at $303,000 after purchasing an additional 159 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Evergy by 4.4% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,944 shares of the company's stock valued at $341,000 after purchasing an additional 210 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Evergy by 6.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 3,905 shares of the company's stock valued at $269,000 after purchasing an additional 221 shares during the period. Institutional investors and hedge funds own 87.24% of the company's stock.

Insider Transactions at Evergy

In other Evergy news, SVP Lesley Lissette Elwell sold 8,000 shares of the stock in a transaction that occurred 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 in the company, valued at $36,092.67. This represents a 94.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.42% of the stock is owned by corporate insiders.

Evergy Stock Down 0.7%

EVRG opened at $78.12 on Wednesday. The stock has a market cap of $17.98 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 3.64 and a beta of 0.57. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24. The company's 50-day moving average price is $73.84 and its two-hundred day moving average price is $70.06. Evergy Inc. has a twelve month low of $59.23 and a twelve month high of $79.32.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.04. The company 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%. Evergy's revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. As a group, equities analysts expect that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 22nd were paid a $0.6675 dividend. The ex-dividend date was Friday, August 22nd. This represents a $2.67 annualized dividend and a yield of 3.4%. Evergy's dividend payout ratio is currently 73.35%.

Wall Street Analyst Weigh In

EVRG has been the subject of several recent research reports. 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. Barclays reaffirmed an "outperform" rating on shares of Evergy in a research report on Thursday, October 9th. Jefferies Financial Group upped their price objective on shares of Evergy from $77.00 to $87.00 and gave the stock a "buy" rating in a research report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Evergy in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, Evergy currently has an average rating of "Buy" and an average target price of $78.07.

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.

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