Energy Income Partners LLC Has $101.40 Million Holdings in Evergy Inc. $EVRG

Key Points

• Energy Income Partners increased its Evergy stake by 1.2% to 1.24 million shares, valued at approximately $101.4 million. Institutional investors collectively own 87.24% of the utility’s stock.
• Evergy exceeded quarterly expectations, reporting $0.69 in EPS versus the $0.63 consensus estimate and $1.44 billion in revenue, up 5% year over year.
• The company maintains a quarterly dividend of $0.695 per share, equivalent to an annualized $2.78 payout and a 3.2% yield. Analysts rate the stock a “Moderate Buy,” with an average price target of $90.60.

Energy Income Partners LLC lifted its holdings in Evergy Inc. (NASDAQ:EVRG - Free Report) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,237,749 shares of the company's stock after acquiring an additional 15,195 shares during the quarter. Evergy makes up approximately 1.6% of Energy Income Partners LLC's holdings, making the stock its 18th largest holding. Energy Income Partners LLC owned about 0.54% of Evergy worth $101,396,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. MidFirst Bank acquired a new position in Evergy during the 4th quarter worth $25,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Evergy in the 4th quarter valued at $27,000. Prosperity Bancshares Inc bought a new stake in shares of Evergy during the fourth quarter worth $32,000. Triumph Capital Management raised its position in shares of Evergy by 104.8% during the fourth quarter. Triumph Capital Management now owns 508 shares of the company's stock worth $37,000 after acquiring an additional 260 shares during the last quarter. Finally, Transamerica Financial Advisors LLC raised its position in shares of Evergy by 163.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 529 shares of the company's stock worth $38,000 after acquiring an additional 328 shares during the last quarter. 87.24% of the stock is currently owned by institutional investors.

Evergy Trading Down 1.5%

NASDAQ:EVRG opened at $85.84 on Tuesday. 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 has a market capitalization of $19.79 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 2.26 and a beta of 0.54. The business's 50-day moving average price is $84.57 and its two-hundred day moving average price is $81.82.

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. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.27 billion. Evergy had a return on equity of 9.09% and a net margin of 14.63%.The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 EPS. On average, equities analysts expect that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Announces Dividend

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

Insider Buying and Selling

In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $83.46, for a total value of $900,283.02. Following the sale, the executive vice president directly owned 37,789 shares in the company, valued at approximately $3,153,869.94. This trade represents a 22.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sandra Aj Lawrence sold 761 shares of Evergy stock in a transaction 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 transaction, the director directly owned 1,680 shares in the company, valued at approximately $139,960.80. This represents a 31.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 12,748 shares of company stock valued at $1,061,870. Corporate insiders own 1.52% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. 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 boosted their price target on shares of Evergy from $95.00 to $97.00 and gave the stock a "buy" rating in a research note on Friday. BTIG Research set a $97.00 price objective on shares of Evergy in a report on Thursday. UBS Group raised their price objective 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. Finally, Wells Fargo & Company set a $87.00 target price on shares of Evergy in a report on Tuesday, April 21st. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $90.60.

Evergy Company 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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