Evergy Inc. $EVRG Shares Purchased by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Evergy Inc. by 11.1% during the second quarter, owning a total of 40,274 shares valued at approximately $2.83 million.
• Evergy recently announced a quarterly dividend of $0.6675 per share, representing an annualized yield of 3.6% and a payout ratio of 73.35%.
• Analysts currently have an average target price of $74.44 for Evergy shares, with most ratings leaning towards a "Buy" status.

Wealth Enhancement Advisory Services LLC lifted its position in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 11.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,274 shares of the company's stock after buying an additional 4,011 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Evergy were worth $2,826,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of EVRG. Wedmont Private Capital lifted its holdings in shares of Evergy by 11.8% during the 2nd quarter. Wedmont Private Capital now owns 3,845 shares of the company's stock valued at $265,000 after purchasing an additional 406 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Evergy by 1.6% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,757 shares of the company's stock valued at $2,051,000 after purchasing an additional 473 shares during the period. Czech National Bank raised its stake in shares of Evergy by 6.5% during the 2nd quarter. Czech National Bank now owns 56,255 shares of the company's stock valued at $3,878,000 after buying an additional 3,434 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Evergy by 6.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 3,905 shares of the company's stock valued at $269,000 after buying an additional 221 shares during the period. Finally, Atwood & Palmer Inc. boosted its stake in Evergy by 18.8% in the second quarter. Atwood & Palmer Inc. now owns 1,507 shares of the company's stock valued at $104,000 after acquiring an additional 239 shares in the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Evergy

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $72.33, for a total value of $578,640.00. Following the transaction, the senior vice president owned 499 shares in the company, valued at $36,092.67. The trade was a 94.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.42% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EVRG. Mizuho upped their target price on shares of Evergy from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Jefferies Financial Group set a $78.00 target price on shares of Evergy and gave the stock a "buy" rating in a report on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $74.44.

Evergy Stock Up 0.8%

Evergy stock opened at $74.07 on Friday. The business's 50-day moving average price is $71.73 and its 200 day moving average price is $68.93. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24. The firm has a market cap of $17.05 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 3.24 and a beta of 0.58. Evergy Inc. has a 52 week low of $59.00 and a 52 week high of $74.57.

Evergy (NASDAQ:EVRG - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.04. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. Evergy's quarterly revenue was down .7% on a year-over-year basis. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. As a group, sell-side analysts anticipate that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 22nd were paid a dividend of $0.6675 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.67 annualized dividend and a yield of 3.6%. Evergy's payout ratio is currently 73.35%.

About Evergy

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.

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