Evergy Inc. $EVRG Position Decreased by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC lessened its holdings in Evergy Inc. (NASDAQ:EVRG - Free Report) by 23.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 586,192 shares of the company's stock after selling 180,940 shares during the period. Evergy makes up approximately 2.7% of HITE Hedge Asset Management LLC's portfolio, making the stock its 9th biggest holding. HITE Hedge Asset Management LLC owned 0.25% of Evergy worth $42,493,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caprock Group LLC purchased a new position in Evergy in the third quarter valued at approximately $1,482,000. ANTIPODES PARTNERS Ltd purchased a new position in Evergy in the third quarter valued at approximately $72,860,000. Orion Porfolio Solutions LLC lifted its stake in Evergy by 32.5% in the third quarter. Orion Porfolio Solutions LLC now owns 83,233 shares of the company's stock valued at $6,327,000 after purchasing an additional 20,395 shares during the last quarter. Goelzer Investment Management Inc. purchased a new position in Evergy in the fourth quarter valued at approximately $1,073,000. Finally, Assetmark Inc. lifted its stake in Evergy by 41.5% in the third quarter. Assetmark Inc. now owns 52,427 shares of the company's stock valued at $3,986,000 after purchasing an additional 15,379 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on EVRG. Bank of America dropped their price objective on Evergy from $89.00 to $88.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Mizuho set a $82.00 price objective on Evergy in a research note on Monday, February 23rd. Wells Fargo & Company set a $87.00 price objective on Evergy in a research note on Tuesday, April 21st. Wall Street Zen upgraded Evergy from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. Finally, UBS Group upped their price objective on Evergy from $88.00 to $91.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Evergy presently has an average rating of "Moderate Buy" and an average target price of $89.60.

Insider Activity

In other Evergy news, Director Sandra Aj Lawrence sold 600 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $81.41, for a total transaction of $48,846.00. Following the sale, the director owned 680 shares in the company, valued at $55,358.80. This represents a 46.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 1,961 shares of company stock worth $161,587 in the last quarter. Corporate insiders own 1.52% of the company's stock.

Evergy Trading Up 1.3%

NASDAQ:EVRG opened at $83.85 on Friday. The company has a market cap of $19.33 billion, a P/E ratio of 22.24, a P/E/G ratio of 2.15 and a beta of 0.54. The stock's fifty day moving average price is $82.38 and its two-hundred day moving average price is $79.21. Evergy Inc. has a 1 year low of $66.19 and a 1 year high of $85.27. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.45 and a quick ratio of 0.24.

Evergy (NASDAQ:EVRG - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.06. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.27 billion. Evergy had a return on equity of 9.09% and a net margin of 14.63%.The business's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 earnings per share. Evergy has set its FY 2026 guidance at 4.140-4.340 EPS. As a group, analysts expect that Evergy Inc. will post 4.25 EPS for the current year.

Evergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, May 22nd will be given a dividend of $0.695 per share. The ex-dividend date is Friday, May 22nd. This represents a $2.78 annualized dividend and a dividend yield of 3.3%. Evergy's dividend payout ratio is currently 73.74%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.