Patton Fund Management Inc. Reduces Position in Evergy Inc. $EVRG

Key Points

• Patton Fund Management cut its Evergy stake by 62.8% in Q1, selling nearly 49,000 shares and leaving it with 29,007 shares valued at about $2.38 million.
• Evergy’s latest quarterly results topped expectations, with EPS of $0.69 versus $0.63 expected and revenue of $1.44 billion versus $1.27 billion forecast. The company also reaffirmed FY2026 EPS guidance of 4.14–4.34.
• Analysts remain mostly positive on the stock, with eight Buy ratings and three Hold ratings and a consensus target price of about $89.60. Evergy also paid a quarterly dividend of $0.695 per share, equal to a 3.2% yield.

Patton Fund Management Inc. trimmed its position in Evergy Inc. (NASDAQ:EVRG - Free Report) by 62.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,007 shares of the company's stock after selling 48,997 shares during the period. Patton Fund Management Inc.'s holdings in Evergy were worth $2,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EVRG. MidFirst Bank acquired a new position in shares of Evergy in the fourth quarter valued at about $25,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Evergy during the fourth quarter worth about $27,000. Accredited Wealth Management LLC lifted its holdings in shares of Evergy by 1,310.3% during the third quarter. Accredited Wealth Management LLC now owns 409 shares of the company's stock worth $31,000 after purchasing an additional 380 shares during the period. Prosperity Bancshares Inc purchased a new stake in Evergy in the fourth quarter valued at approximately $32,000. Finally, Triumph Capital Management boosted its position in Evergy by 104.8% in the fourth quarter. Triumph Capital Management now owns 508 shares of the company's stock valued at $37,000 after buying an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. UBS Group raised their price target on shares of Evergy from $88.00 to $91.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Bank of America dropped their price objective on shares of Evergy from $89.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Weiss Ratings upgraded shares of Evergy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Wells Fargo & Company set a $87.00 target price on shares of Evergy in a report on Tuesday, April 21st. Finally, Barclays boosted their target price on shares of Evergy from $82.00 to $89.00 and gave the company an "overweight" rating in a research report on Monday, March 9th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $89.60.

Insider Buying and Selling at Evergy

In other news, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $83.46, for a total transaction of $900,283.02. Following the sale, the executive vice president directly owned 37,789 shares of the company's stock, valued at $3,153,869.94. This represents a 22.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sandra Aj Lawrence sold 600 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $81.41, for a total value of $48,846.00. Following the sale, the director owned 680 shares in the company, valued at $55,358.80. This trade represents a 46.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 12,748 shares of company stock worth $1,061,870. 1.52% of the stock is owned by company insiders.

Evergy Stock Up 0.0%

Shares of EVRG stock opened at $87.23 on Monday. Evergy Inc. has a twelve month low of $67.30 and a twelve month high of $87.57. The stock has a market cap of $20.11 billion, a P/E ratio of 23.14, a P/E/G ratio of 2.26 and a beta of 0.55. The stock has a 50 day moving average of $82.67 and a 200 day moving average of $79.86. The company has a current ratio of 0.45, a quick ratio of 0.24 and a debt-to-equity ratio of 1.29.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.63 by $0.06. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. Evergy has set its FY 2026 guidance at 4.140-4.340 EPS. As a group, sell-side analysts expect that Evergy Inc. will post 4.25 EPS for the current year.

Evergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, May 22nd were given a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, May 22nd. Evergy's dividend payout ratio (DPR) is currently 73.74%.

About Evergy

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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