Prudential PLC Has $8.24 Million Holdings in Evergy Inc. $EVRG

Key Points

• Prudential PLC increased its Evergy stake by 59.8% in the fourth quarter, ending with 113,617 shares valued at about $8.24 million.
• Evergy has continued to attract institutional interest, with hedge funds and asset managers owning 87.24% of the company’s stock.
• The utility posted solid quarterly results, beating EPS and revenue estimates, while analysts currently rate the stock a Moderate Buy with an average price target of $89.60.

Prudential PLC boosted its stake in Evergy Inc. (NASDAQ:EVRG - Free Report) by 59.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,617 shares of the company's stock after purchasing an additional 42,503 shares during the quarter. Prudential PLC's holdings in Evergy were worth $8,236,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of EVRG. ANTIPODES PARTNERS Ltd acquired a new position in Evergy during the third quarter worth about $72,860,000. Envestnet Asset Management Inc. raised its stake in Evergy by 136.7% during the third quarter. Envestnet Asset Management Inc. now owns 1,003,616 shares of the company's stock worth $76,295,000 after acquiring an additional 579,531 shares in the last quarter. BROOKFIELD Corp ON acquired a new position in Evergy during the second quarter worth about $29,644,000. Truist Financial Corp raised its stake in Evergy by 28.4% during the fourth quarter. Truist Financial Corp now owns 1,847,410 shares of the company's stock worth $133,919,000 after acquiring an additional 408,452 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC acquired a new position in Evergy during the third quarter worth about $28,358,000. Institutional investors and hedge funds own 87.24% of the company's stock.

Insider Activity

In related news, SVP Heather A. Humphrey sold 3,650 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $82.61, for a total value of $301,526.50. Following the sale, the senior vice president directly owned 44,007 shares in the company, valued at $3,635,418.27. This represents a 7.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sandra Aj Lawrence sold 761 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $83.31, for a total value of $63,398.91. Following the completion of the sale, the director owned 1,680 shares in the company, valued at $139,960.80. The trade was a 31.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 8,051 shares of company stock valued at $663,657 over the last quarter. 1.52% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Bank of America lowered their target price on Evergy from $89.00 to $88.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. BMO Capital Markets boosted their target price on 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 target price on Evergy from $88.00 to $91.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Wall Street Zen raised Evergy from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. Finally, Barclays boosted their target price on 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 given a Hold rating to the company's stock. According to MarketBeat.com, Evergy currently has a consensus rating of "Moderate Buy" and an average price target of $89.60.

Evergy Stock Performance

Evergy stock opened at $83.27 on Friday. The business has a 50 day moving average of $82.25 and a 200-day moving average of $78.98. Evergy Inc. has a 1 year low of $64.80 and a 1 year high of $85.27. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.45 and a quick ratio of 0.24. The company has a market capitalization of $19.19 billion, a P/E ratio of 22.09, a P/E/G ratio of 2.12 and a beta of 0.54.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.06. Evergy had a return on equity of 9.09% and a net margin of 14.63%.The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The firm's revenue was up 5.0% compared to the same quarter last year. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, May 22nd will be paid a $0.695 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.78 annualized dividend and a dividend yield of 3.3%. Evergy's dividend payout ratio 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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