BROOKFIELD Corp ON Has $19.42 Million Stock Position in Evergy Inc. $EVRG

Key Points

• Brookfield Corp. ON reduced its Evergy stake by 34.9% in the first quarter, selling 127,017 shares and retaining 237,114 shares worth approximately $19.42 million. Institutional investors and hedge funds collectively own 87.24% of Evergy.
• Evergy reported quarterly EPS of $0.69, exceeding the $0.63 analyst consensus, while revenue rose 5% year over year to $1.44 billion. Shares opened at $87.18, near the company’s 52-week high of $88.62.
• Evergy maintains a quarterly dividend of $0.695, equivalent to an annualized $2.78 payout and a 3.2% yield. Analysts assign the stock a “Moderate Buy” consensus rating with an average price target of $90.60.

BROOKFIELD Corp ON cut its stake in Evergy Inc. (NASDAQ:EVRG - Free Report) by 34.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 237,114 shares of the company's stock after selling 127,017 shares during the period. BROOKFIELD Corp ON owned about 0.10% of Evergy worth $19,424,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EVRG. Kestra Advisory Services LLC grew its position in Evergy by 0.8% in the first quarter. Kestra Advisory Services LLC now owns 15,829 shares of the company's stock valued at $1,297,000 after acquiring an additional 124 shares during the period. Retirement Planning Group LLC boosted its stake in shares of Evergy by 0.6% in the 1st quarter. Retirement Planning Group LLC now owns 23,659 shares of the company's stock valued at $1,938,000 after purchasing an additional 137 shares in the last quarter. Earned Wealth Advisors LLC boosted its stake in shares of Evergy by 4.9% in the 1st quarter. Earned Wealth Advisors LLC now owns 2,946 shares of the company's stock valued at $241,000 after purchasing an additional 137 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Evergy by 0.6% in the 4th 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 in the last quarter. Finally, Hilltop Holdings Inc. grew its holdings in shares of Evergy by 1.6% in the 4th quarter. Hilltop Holdings Inc. now owns 8,990 shares of the company's stock worth $652,000 after purchasing an additional 142 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Evergy

In related news, Director Sandra Aj Lawrence sold 761 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $83.31, for a total transaction of $63,398.91. Following the completion of the sale, the director directly owned 1,680 shares of the company's stock, valued at approximately $139,960.80. This represents a 31.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles A. Caisley sold 10,787 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $83.46, for a total transaction of $900,283.02. Following the sale, the executive vice president owned 37,789 shares in the company, valued at $3,153,869.94. This trade represents a 22.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 12,748 shares of company stock valued at $1,061,870 over the last quarter. 1.52% of the stock is owned by insiders.

Evergy Price Performance

Shares of NASDAQ EVRG opened at $87.18 on Monday. The firm has a market capitalization of $20.10 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 2.26 and a beta of 0.54. The company has a current ratio of 0.45, a quick ratio of 0.24 and a debt-to-equity ratio of 1.29. Evergy Inc. has a 1 year low of $68.05 and a 1 year high of $88.62. The firm's 50-day moving average is $84.49 and its 200-day moving average is $81.73.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.06. Evergy had a return on equity of 9.09% and a net margin of 14.63%.The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same quarter last year, the business earned $0.54 earnings per share. The company's revenue was up 5.0% compared to the same quarter last year. Equities analysts expect that Evergy Inc. will post 4.25 EPS for the current year.

Evergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, May 22nd were given a $0.695 dividend. The ex-dividend date was Friday, May 22nd. This represents a $2.78 annualized dividend and a dividend yield of 3.2%. Evergy's payout ratio is currently 73.74%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on EVRG shares. Bank of America dropped their target price on shares of Evergy from $89.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. BTIG Research set a $97.00 price target on shares of Evergy in a research report on Thursday. Weiss Ratings raised shares of Evergy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Citigroup raised their price objective on shares of Evergy from $95.00 to $97.00 and gave the stock a "buy" rating in a report on Friday. Finally, UBS Group lifted their target price on shares of Evergy from $88.00 to $91.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $90.60.

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.

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