Evergy (EVRG) with two notable open market buys from insiders last week including $500K from the CEO and $500K from the CFO at $63.66 to $63.67 both on 9/23. This week’s flows follow these two both buying over $530K in stock in March at $52-$53. Shares are back at an interesting spot long-term with VWAP from the March breakout at $63, the 38.2% Fibonacci from the 2021 lows at $62.80, and the top of yearly value also at $63.15. EVRG is also at the low-end of a rising channel that measures back up to $70. The $14.56B company trades 18X earnings, 2.67X sales, and 1.6X book with a 3.4% yield. The company has been a transition story over the last year as their new CEO and CFO focus on shifting the portfolio into more clean energy and away from fossil fuels. The company now sees 50% of their mix from emissions-free energy including Wind and Nuclear. EVRG sees a longer period of investment putting them in pole position to take advantage of major secular trends in the utilities space including renewables, improved interregional grid infrastructure, green hydrogen, and electrification. Analysts have an average target for shares of $69 with a Street High $72. BAML downgrading to Neutral on 9/15 as they think it will take time for the company to trade at the same premium multiple as peers. Seaport starting at Buy on 7/7. The firm is comfortable with Evergy’s ability to hit its premium 7% EPS compound annual growth rate target for 2020-2024 given the strong execution track record of its new CEO and CFO. Goldman upgrading to Buy on 6/15 citing an attractive valuation, upside potential to consensus estimates, and positive changes to regulatory frameworks in both Kansas and Missouri. The firm also sees potential for Evergy to accelerate or enhance coal retirement plans — replacing this mostly with wind or solar in rate base. Hedge fund ownership rose 8.5% last quarter. Elliott Management is a top holder with 10.5M shares.