Envestnet Asset Management Inc. Has $34.38 Million Stake in Evergy, Inc. (NYSE:EVRG)

Envestnet Asset Management Inc. boosted its stake in shares of Evergy, Inc. (NYSE:EVRG) by 14.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 606,871 shares of the company’s stock after acquiring an additional 77,062 shares during the quarter. Envestnet Asset Management Inc. owned 0.26% of Evergy worth $34,381,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of EVRG. Scissortail Wealth Management LLC bought a new stake in shares of Evergy during the first quarter worth $1,041,928,000. CoreCap Advisors LLC bought a new position in shares of Evergy during the 4th quarter worth approximately $40,000. Spire Wealth Management boosted its stake in Evergy by 53.2% in the 1st quarter. Spire Wealth Management now owns 726 shares of the company’s stock valued at $44,000 after purchasing an additional 252 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Evergy in the 1st quarter valued at $51,000. Finally, Harbour Investments Inc. grew its position in Evergy by 92.8% during the 4th quarter. Harbour Investments Inc. now owns 908 shares of the company’s stock worth $57,000 after acquiring an additional 437 shares during the last quarter. 82.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EVRG shares. Guggenheim dropped their price target on Evergy from $72.00 to $68.00 in a research note on Friday, July 7th. Barclays assumed coverage on Evergy in a report on Wednesday, August 23rd. They issued an “equal weight” rating and a $56.00 price target for the company. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $61.83.

Evergy Trading Up 0.6 %

NYSE EVRG opened at $57.08 on Wednesday. The company has a fifty day moving average of $58.60 and a 200 day moving average of $59.75. The company has a market capitalization of $13.11 billion, a PE ratio of 15.29, a P/E/G ratio of 3.02 and a beta of 0.50. Evergy, Inc. has a 1 year low of $54.12 and a 1 year high of $71.13. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.46 and a quick ratio of 0.28.

Evergy (NYSE:EVRG) last issued its quarterly earnings data on Friday, August 4th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.77 by $0.04. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.45 billion. Evergy had a net margin of 12.97% and a return on equity of 8.94%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. Research analysts forecast that Evergy, Inc. will post 3.59 earnings per share for the current year.

Evergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Monday, August 21st will be paid a dividend of $0.6125 per share. The ex-dividend date is Friday, August 18th. This represents a $2.45 annualized dividend and a yield of 4.29%. Evergy’s dividend payout ratio is currently 74.47%.

Insider Transactions at Evergy

In other Evergy news, Director Mary L. Landrieu sold 1,170 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $59.62, for a total transaction of $69,755.40. Following the completion of the sale, the director now owns 4,210 shares in the company, valued at $251,000.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.08% of the company’s stock.

Evergy Company Profile

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Kansas and Missouri, the United States. The company generates electricity through coal, hydroelectric, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources.