Evergy Inc. $EVRG Shares Purchased by Cullen Frost Bankers Inc.

Key Points

• Cullen Frost Bankers Inc. increased its Evergy stake by 4.9% in the fourth quarter, adding 14,907 shares and bringing its total holding to 316,511 shares worth about $22.9 million.
• Several other institutions also raised positions, and overall institutional ownership stands at 87.24% of Evergy’s stock.
• Evergy’s recent results and outlook were solid: it beat quarterly EPS and revenue estimates, and the company maintained a 3.4% dividend yield with quarterly payment of $0.695 per share.

Cullen Frost Bankers Inc. boosted its stake in Evergy Inc. (NASDAQ:EVRG - Free Report) by 4.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 316,511 shares of the company's stock after purchasing an additional 14,907 shares during the period. Cullen Frost Bankers Inc. owned about 0.14% of Evergy worth $22,944,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its holdings in Evergy by 7.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 62,923 shares of the company's stock valued at $4,561,000 after purchasing an additional 4,454 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Evergy by 7.3% in the fourth quarter. Larson Financial Group LLC now owns 3,104 shares of the company's stock worth $225,000 after acquiring an additional 210 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Evergy by 7.6% in the fourth quarter. ProShare Advisors LLC now owns 43,991 shares of the company's stock worth $3,189,000 after acquiring an additional 3,115 shares in the last quarter. Tucker Asset Management LLC acquired a new position in shares of Evergy in the fourth quarter worth $112,000. Finally, North Dakota State Investment Board acquired a new position in shares of Evergy in the fourth quarter worth $572,000. Institutional investors and hedge funds own 87.24% of the company's stock.

Insider Buying and Selling

In other news, SVP Charles L. King sold 2,440 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $82.19, for a total transaction of $200,543.60. Following the completion of the sale, the senior vice president owned 18,359 shares in the company, valued at approximately $1,508,926.21. The trade was a 11.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann D. Murtlow sold 2,847 shares of the company's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $82.34, for a total transaction of $234,421.98. Following the completion of the transaction, the director owned 2,311 shares of the company's stock, valued at approximately $190,287.74. The trade was a 55.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 8,937 shares of company stock worth $736,492. Corporate insiders own 1.52% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on EVRG shares. Mizuho set a $82.00 price target on shares of Evergy in a research note on Monday, February 23rd. BMO Capital Markets boosted their price target on shares of Evergy from $82.00 to $87.00 and gave the stock an "outperform" rating in a research note on Monday, February 23rd. UBS Group boosted their price target on shares of Evergy from $88.00 to $91.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Citigroup boosted their price target on shares of Evergy from $89.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Finally, Barclays boosted their price target on shares of Evergy from $82.00 to $89.00 and gave the stock an "overweight" rating in a research note on Monday, March 9th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Evergy has a consensus rating of "Moderate Buy" and a consensus price target of $89.60.

Evergy Stock Performance

Shares of EVRG stock opened at $82.97 on Wednesday. The company has a current ratio of 0.45, a quick ratio of 0.24 and a debt-to-equity ratio of 1.29. The firm has a fifty day moving average price of $81.88 and a 200 day moving average price of $78.45. The company has a market cap of $19.13 billion, a P/E ratio of 22.01, a PEG ratio of 2.13 and a beta of 0.56. Evergy Inc. has a 12 month low of $64.70 and a 12 month high of $85.27.

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

Evergy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, May 22nd will be paid a dividend of $0.695 per share. The ex-dividend date is Friday, May 22nd. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. Evergy's payout ratio is presently 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.

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