Evergy Inc. $EVRG Shares Purchased by SVB Wealth LLC

Key Points

• SVB Wealth LLC boosted its Evergy stake by 85.3% in the fourth quarter, ending with 30,563 shares valued at about $2.22 million.
• Evergy reported better-than-expected quarterly results, with EPS of $0.69 versus $0.63 expected and revenue of $1.44 billion versus $1.27 billion expected. The company also reaffirmed FY 2026 EPS guidance of 4.140 to 4.340.
• The utility declared a quarterly dividend of $0.695 per share, implying an annualized payout of $2.78 and a dividend yield of 3.3%. Analysts currently have a consensus Moderate Buy rating with a $89.60 price target.

SVB Wealth LLC increased its stake in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 85.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,563 shares of the company's stock after purchasing an additional 14,066 shares during the period. SVB Wealth LLC's holdings in Evergy were worth $2,216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of EVRG. Massachusetts Financial Services Co. MA raised its position in shares of Evergy by 346.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,046,787 shares of the company's stock worth $155,597,000 after purchasing an additional 1,588,100 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Evergy during the 3rd quarter worth about $72,860,000. Truist Financial Corp raised its position in shares of Evergy by 169.2% during the 3rd quarter. Truist Financial Corp now owns 1,438,958 shares of the company's stock worth $109,390,000 after purchasing an additional 904,400 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Evergy by 136.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,003,616 shares of the company's stock worth $76,295,000 after purchasing an additional 579,531 shares during the last quarter. Finally, BROOKFIELD Corp ON acquired a new position in shares of Evergy during the 2nd quarter worth about $29,644,000. Institutional investors and hedge funds own 87.24% of the company's stock.

Evergy Stock Up 2.0%

Shares of NASDAQ EVRG opened at $83.43 on Tuesday. The company has a 50 day simple moving average of $82.05 and a 200-day simple moving average of $78.26. The company has a market capitalization of $19.23 billion, a P/E ratio of 22.13, a P/E/G ratio of 2.12 and a beta of 0.56. 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 Inc. has a 1 year low of $63.29 and a 1 year high of $85.27.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.06. The business 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 business's revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.54 EPS. Evergy has set its FY 2026 guidance at 4.140-4.340 EPS. On average, equities research analysts predict that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, May 22nd will be issued 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 3.3%. Evergy's dividend payout ratio (DPR) is currently 73.74%.

Analysts Set New Price Targets

Several research analysts recently weighed in on EVRG shares. BTIG Research started coverage on shares of Evergy in a research report on Thursday, April 9th. They set a "buy" rating and a $99.00 price target for the company. BMO Capital Markets increased their price objective on shares of Evergy from $82.00 to $87.00 and gave the company an "outperform" rating in a report on Monday, February 23rd. Citigroup increased their price objective on shares of Evergy from $89.00 to $95.00 and gave the company a "buy" rating in a report on Friday, February 20th. UBS Group increased their price objective on shares of Evergy from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Friday. Finally, Bank of America cut their price objective on shares of Evergy from $89.00 to $88.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.60.

Insider Transactions at Evergy

In other news, SVP Heather A. Humphrey sold 3,650 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $82.61, for a total transaction of $301,526.50. Following the completion of the sale, the senior vice president owned 44,007 shares in the company, valued at $3,635,418.27. This trade represents a 7.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann D. Murtlow sold 2,847 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $82.34, for a total transaction of $234,421.98. Following the sale, the director owned 2,311 shares of the company's stock, valued at $190,287.74. This represents a 55.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 8,937 shares of company stock worth $736,492 in the last 90 days. Insiders own 1.52% of the company's stock.

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.