Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 38,521 Shares of Evergy Inc. $EVRG

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its Evergy stake by 8.9% in the first quarter, buying 38,521 additional shares and bringing its total holding to 470,889 shares worth about $38.6 million.
• Evergy reported strong quarterly results, posting EPS of $0.69 versus the $0.63 estimate and revenue of $1.44 billion versus the $1.27 billion forecast, with revenue up 5% year over year.
• The company also continued rewarding shareholders with a quarterly dividend of $0.695 per share, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $90.10.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Evergy Inc. (NASDAQ:EVRG - Free Report) by 8.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 470,889 shares of the company's stock after purchasing an additional 38,521 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.20% of Evergy worth $38,575,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MidFirst Bank purchased a new stake in Evergy in the fourth quarter valued at about $25,000. Harbor Capital Advisors Inc. acquired a new position in shares of Evergy during the fourth quarter valued at about $27,000. Prosperity Bancshares Inc purchased a new position in shares of Evergy in the 4th quarter valued at approximately $32,000. Triumph Capital Management boosted its stake in Evergy by 104.8% in the 4th quarter. Triumph Capital Management now owns 508 shares of the company's stock worth $37,000 after purchasing an additional 260 shares in the last quarter. Finally, Transamerica Financial Advisors LLC grew its position in Evergy by 163.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 529 shares of the company's stock worth $38,000 after purchasing an additional 328 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Evergy

In related news, Director Sandra Aj Lawrence sold 600 shares of the company's stock in a transaction dated 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 owned 680 shares of the company's stock, valued at approximately $55,358.80. This represents a 46.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $83.46, for a total transaction of $900,283.02. Following the completion of the sale, the executive vice president owned 37,789 shares of the company's stock, valued at approximately $3,153,869.94. The trade was a 22.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 12,748 shares of company stock worth $1,061,870. 1.52% of the stock is currently owned by corporate insiders.

Evergy Stock Performance

Evergy stock traded up $0.43 during mid-day trading on Friday, hitting $85.71. The company had a trading volume of 1,681,980 shares, compared to its average volume of 2,026,893. The company has a market capitalization of $19.76 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 2.22 and a beta of 0.54. Evergy Inc. has a 12-month low of $67.30 and a 12-month high of $88.62. The company's fifty day moving average is $83.72 and its 200-day moving average is $80.74. 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 (NASDAQ:EVRG - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.06. Evergy had a net margin of 14.63% and a return on equity of 9.09%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the company posted $0.54 EPS. The company's revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts predict that Evergy Inc. will post 4.25 EPS for the current year.

Evergy Announces Dividend

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

Analysts Set New Price Targets

EVRG has been the topic of a number of research analyst reports. Wells Fargo & Company set a $87.00 price objective on shares of Evergy in a report on Tuesday, April 21st. Bank of America lowered their price target on Evergy from $89.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Barclays increased their price objective on Evergy from $89.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, June 30th. Weiss Ratings upgraded Evergy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Finally, UBS Group upped their target price on Evergy from $88.00 to $91.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Evergy presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.10.

Evergy Profile

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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