Frank Rimerman Advisors LLC Acquires New Position in Evergy, Inc. (NYSE:EVRG)

Frank Rimerman Advisors LLC bought a new position in Evergy, Inc. (NYSE:EVRG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 22,498 shares of the company’s stock, valued at approximately $1,192,000.

Several other large investors also recently added to or reduced their stakes in EVRG. Fidelis Capital Partners LLC bought a new stake in Evergy in the first quarter worth approximately $32,000. Toth Financial Advisory Corp grew its position in Evergy by 199.5% in the first quarter. Toth Financial Advisory Corp now owns 635 shares of the company’s stock worth $34,000 after acquiring an additional 423 shares in the last quarter. Rothschild Investment LLC bought a new stake in Evergy in the second quarter worth approximately $37,000. Hantz Financial Services Inc. bought a new stake in Evergy in the second quarter worth approximately $41,000. Finally, Principal Securities Inc. bought a new stake in Evergy in the fourth quarter worth approximately $43,000. 87.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on EVRG. Barclays boosted their target price on shares of Evergy from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Jefferies Financial Group began coverage on shares of Evergy in a research note on Thursday. They issued a “buy” rating and a $70.00 target price on the stock. Finally, UBS Group upgraded shares of Evergy to a “hold” rating in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Evergy Price Performance

Shares of Evergy stock opened at $61.65 on Monday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.59 and a quick ratio of 0.35. Evergy, Inc. has a fifty-two week low of $46.92 and a fifty-two week high of $62.24. The firm has a fifty day moving average price of $58.63 and a two-hundred day moving average price of $54.95. The company has a market cap of $14.18 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 3.12 and a beta of 0.62.

Evergy (NYSE:EVRG) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. Evergy had a net margin of 13.12% and a return on equity of 8.50%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm earned $0.81 EPS. Analysts expect that Evergy, Inc. will post 3.85 EPS for the current year.

Evergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.6425 per share. This represents a $2.57 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Tuesday, August 20th. Evergy’s payout ratio is 83.17%.

Insider Transactions at Evergy

In other news, SVP Heather A. Humphrey sold 3,347 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $58.80, for a total transaction of $196,803.60. Following the completion of the transaction, the senior vice president now directly owns 35,314 shares of the company’s stock, valued at approximately $2,076,463.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Charles A. Caisley sold 9,236 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total transaction of $550,742.68. Following the completion of the sale, the senior vice president now owns 33,425 shares in the company, valued at approximately $1,993,132.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Heather A. Humphrey sold 3,347 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $58.80, for a total transaction of $196,803.60. Following the sale, the senior vice president now owns 35,314 shares of the company’s stock, valued at approximately $2,076,463.20. The disclosure for this sale can be found here. In the last three months, insiders sold 15,884 shares of company stock valued at $941,810. Company insiders own 0.47% of the company’s stock.

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.