Evergy’s EVP Kevin Bryant sells $3.03 million in the same stock Via Investing.com
Kevin E. Bryant, Vice President of Business Systems at Evergy, Inc. (NYSE:NASDAQ:), recently sold 48,141 shares of the company’s common stock. The shares were traded at an average price of $62.93, for a total of approximately $3.03 million. Following this transaction, Bryant retains ownership of just one share of Evergy common stock.
In addition to the sale, Bryant holds 18,871 restricted stock units, which convert to common stock on a per-person basis. These units are scheduled to operate in phases over the next few years, depending on Evergy’s continued employment. The purchase plan includes 5,125 units in 2025, 5,470 units in 2026, and 6,951 units in 2027.
In other recent news, Evergy reported strong third-quarter results, with adjusted earnings per share (EPS) increasing to $2.02, from $1.88 last year. This growth was driven by demand and sales of new stores. The company also announced a 4% dividend increase and a capital expenditure plan of $16.2 billion through 2029. Key partnerships with Google (NASDAQ:), Panasonic (OTC:), and Meta (NASDAQ:) have been established, representing 750 megawatts of load. , with a strong pipeline of more than 6 gigawatts of potential projects.
Evergy reaffirmed its 2024 adjusted EPS range of $3.73 to $3.93 and set its 2025 guidance to $3.92 to $4.12. The company is also planning potential stock issuances in 2026 and 2027 to finance the investment. Despite the expected volume problems, the company has received significant economic development benefits and is negotiating two new data centers, which may add 500 to 1,000 megawatts of load.
These are the latest developments and reflect the company’s positive vision with a focus on affordability, reliability, and sustainability. The company is forecasting average growth of 2% to 3% through 2029 and expects to maintain a 15% operating to debt ratio. Evergy is also targeting adjusted EPS growth of 4% to 6% through 2029.
InvestingPro Insights
While the recent sale of Kevin E. Bryant’s stock may raise eyebrows, a closer look at Evergy’s financial metrics and market conditions reveals a more optimistic picture. According to InvestingPro data, Evergy boasts a market capitalization of $14.44 billion and trades at a P/E ratio of 17.03, which is average for the utilities sector.
Notably, Evergy has demonstrated a strong commitment to shareholder returns. An InvestingPro Tip highlights that this company has raised dividends for 21 consecutive years, paying a dividend of 4.25%. This consistent dividend growth, coupled with a one-year price return of 31.93%, suggests that investors have been rewarded despite the high stock selloff.
Another InvestingPro tip indicates that Evergy is operating with a heavy debt load. However, this is not uncommon in the capital-intensive utilities industry, and the company’s ability to maintain profits and dividend payments suggests effective management of its financial obligations.
For investors looking for a comprehensive analysis, InvestingPro offers 7 additional tips that can provide in-depth information about Evergy’s financial health and market conditions.
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