RIA Advisory Group LLC Takes Position in Evergy Inc. $EVRG

Key Points

• RIA Advisory Group LLC bought a new stake in Evergy (NASDAQ:EVRG) of 13,337 shares during Q4, valued at approximately $967,000.
• Insiders have sold 8,937 shares (about $736,492) over the last 90 days while institutional investors own 87.24% of Evergy and company insiders now hold 1.52% of the stock.
• Evergy pays a quarterly dividend of $0.695 (annualized $2.78) for a 3.4% yield

RIA Advisory Group LLC bought a new stake in Evergy Inc. (NASDAQ:EVRG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,337 shares of the company's stock, valued at approximately $967,000.

Several other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its position in shares of Evergy by 0.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 24,981 shares of the company's stock valued at $1,826,000 after purchasing an additional 140 shares during the period. Moneta Group Investment Advisors LLC grew its position in shares of Evergy by 0.3% in the third quarter. Moneta Group Investment Advisors LLC now owns 46,972 shares of the company's stock valued at $3,571,000 after purchasing an additional 145 shares during the period. Cary Street Partners Investment Advisory LLC grew its position in shares of Evergy by 17.7% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 979 shares of the company's stock valued at $74,000 after purchasing an additional 147 shares during the period. Modern Wealth Management LLC lifted its stake in shares of Evergy by 1.9% in the third quarter. Modern Wealth Management LLC now owns 7,926 shares of the company's stock worth $603,000 after buying an additional 148 shares in the last quarter. Finally, Composition Wealth LLC lifted its stake in shares of Evergy by 3.9% in the fourth quarter. Composition Wealth LLC now owns 3,920 shares of the company's stock worth $284,000 after buying an additional 148 shares in the last quarter. Institutional investors and hedge funds own 87.24% of the company's stock.

Evergy Price Performance

Shares of EVRG stock opened at $82.61 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.49 and a quick ratio of 0.27. The firm's 50-day moving average is $82.06 and its two-hundred day moving average is $78.12. Evergy Inc. has a 12 month low of $63.29 and a 12 month high of $85.27. The company has a market capitalization of $19.02 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 2.14 and a beta of 0.56.

Evergy (NASDAQ:EVRG - Get Free Report) last issued its earnings results on Saturday, January 31st. The company reported $0.42 EPS for the quarter. Evergy had a net margin of 14.35% and a return on equity of 8.79%. Analysts predict that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.695 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $2.78 dividend on an annualized basis and a yield of 3.4%. Evergy's payout ratio is 75.75%.

Insiders Place Their Bets

In other Evergy news, SVP Charles L. King sold 2,440 shares of Evergy stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $82.19, for a total transaction of $200,543.60. Following the transaction, the senior vice president directly owned 18,359 shares of the company's stock, valued at $1,508,926.21. The trade was a 11.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann D. Murtlow sold 2,847 shares of Evergy stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $82.34, for a total transaction of $234,421.98. Following the transaction, the director directly owned 2,311 shares in the company, valued at $190,287.74. This trade represents a 55.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 8,937 shares of company stock valued at $736,492 over the last ninety days. Company insiders own 1.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company set a $87.00 price target on shares of Evergy in a research note on Tuesday, April 21st. Barclays raised their price target on shares of Evergy from $82.00 to $89.00 and gave the stock an "overweight" rating in a research note on Monday, March 9th. Bank of America decreased their price target on shares of Evergy from $89.00 to $88.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Citigroup raised their price target on shares of Evergy from $89.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Finally, BTIG Research assumed coverage on shares of Evergy in a research note on Thursday, April 9th. They issued a "buy" rating and a $99.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $89.30.

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.

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