Evergy Inc. $EVRG Shares Sold by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. cut its Evergy stake by 14.3% in the third quarter, selling 27,000 shares and retaining 161,646 shares worth approximately $12.68 million. Institutional investors and hedge funds collectively own 87.24% of Evergy.
• Evergy reported quarterly EPS of $0.88, beating analyst expectations of $0.81, while revenue reached $1.50 billion versus the $1.36 billion consensus estimate. Analysts expect full-year EPS of $4.25.
• Evergy pays a quarterly dividend of $0.695 per share, equivalent to an annualized $2.78 dividend and a 3.4% yield. Wall Street maintains a “Moderate Buy” consensus rating with an average price target of $89.70.

First Citizens Bank & Trust Co. reduced its stake in Evergy Inc. (NASDAQ:EVRG - Free Report) by 14.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,646 shares of the company's stock after selling 27,000 shares during the quarter. First Citizens Bank & Trust Co. owned 0.07% of Evergy worth $12,680,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. MidFirst Bank acquired a new stake in shares of Evergy in the fourth quarter valued at approximately $25,000. Knuff & Co LLC acquired a new position in Evergy during the second quarter worth $30,000. Burk Holdings LLC acquired a new position in Evergy during the second quarter worth $31,000. Clearstead Trust LLC acquired a new position in Evergy during the second quarter worth $33,000. Finally, Fiduciary Financial Advisors bought a new position in Evergy in the second quarter valued at $34,000. 87.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Evergy

In related news, Director Jonathan Rolph purchased 1,640 shares of Evergy stock in a transaction dated Friday, September 11th. The shares were bought at an average cost of $81.47 per share, for a total transaction of $133,610.80. Following the purchase, the director owned 670 shares in the company, valued at approximately $54,584.90. This trade represents a -169.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.52% of the company's stock.

Evergy Stock Performance

NASDAQ:EVRG opened at $82.13 on Wednesday. The stock has a 50 day simple moving average of $81.08 and a 200 day simple moving average of $82.67. Evergy Inc. has a 1-year low of $71.40 and a 1-year high of $88.62. The company has a current ratio of 0.36, a quick ratio of 0.21 and a debt-to-equity ratio of 1.20. The stock has a market cap of $18.94 billion, a P/E ratio of 20.85, a PEG ratio of 2.11 and a beta of 0.50.

Evergy (NASDAQ:EVRG - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.07. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.36 billion. Evergy had a return on equity of 9.20% and a net margin of 15.19%. During the same period in the prior year, the firm posted $0.82 EPS. Research analysts anticipate that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Tuesday, August 18th were issued a $0.6950 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. Evergy's dividend payout ratio is 70.56%.

Wall Street Analysts Forecast Growth

EVRG has been the topic of several recent research reports. DA Davidson set a $85.00 price target on shares of Evergy in a research note on Tuesday. Barclays increased their price objective on shares of Evergy from $89.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 30th. Weiss Ratings restated a "buy (b)" rating on shares of Evergy in a research note on Friday, August 7th. Royal Bank Of Canada reissued an "outperform" rating on shares of Evergy in a research report on Friday. Finally, BTIG Research set a $97.00 price target on shares of Evergy in a research report on Thursday, July 23rd. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Evergy currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.70.

Evergy Profile

Evergy, Inc is an investor-owned electric utility holding company that provides electricity generation, transmission, distribution and related services. Through its operating utilities, the company serves residential, commercial, industrial and municipal customers in Kansas and Missouri.

Evergy's generation portfolio includes nuclear, natural gas, coal, wind and solar resources. The company also operates and maintains electric transmission and distribution infrastructure and has invested in renewable energy and grid modernization initiatives to support reliability and the transition to lower-emission energy sources.

Evergy was formed in 2018 through the merger of Great Plains Energy Incorporated and Westar Energy, Inc Its principal operating utilities include Evergy Kansas Central, Evergy Kansas South, Evergy Missouri Metro and Evergy Missouri West.

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