Envestnet Asset Management Inc. Acquires 119,889 Shares of Evergy Inc. $EVRG

Envestnet Asset Management Inc. grew its holdings in Evergy Inc. (NASDAQ:EVRG) by 39.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 424,085 shares of the company’s stock after purchasing an additional 119,889 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.18% of Evergy worth $29,232,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Nisa Investment Advisors LLC raised its holdings in shares of Evergy by 0.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 86,749 shares of the company’s stock valued at $5,980,000 after purchasing an additional 601 shares in the last quarter. Prudent Man Advisors LLC raised its holdings in shares of Evergy by 28.6% in the 2nd quarter. Prudent Man Advisors LLC now owns 11,646 shares of the company’s stock valued at $803,000 after purchasing an additional 2,592 shares in the last quarter. Brighton Jones LLC grew its position in shares of Evergy by 7.3% in the 2nd quarter. Brighton Jones LLC now owns 4,562 shares of the company’s stock worth $314,000 after buying an additional 310 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Evergy by 15.9% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 69,386 shares of the company’s stock worth $4,783,000 after buying an additional 9,522 shares during the last quarter. Finally, Ranch Capital Advisors Inc. grew its position in shares of Evergy by 5.1% in the 2nd quarter. Ranch Capital Advisors Inc. now owns 27,658 shares of the company’s stock worth $1,906,000 after buying an additional 1,354 shares during the last quarter. Institutional investors own 87.24% of the company’s stock.

Wall Street Analysts Forecast Growth

EVRG has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on shares of Evergy from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Barclays reaffirmed an “outperform” rating on shares of Evergy in a research report on Thursday, October 9th. Mizuho lifted their price objective on shares of Evergy from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Wells Fargo & Company raised shares of Evergy to a “hold” rating in a research report on Tuesday, October 28th. Finally, Wall Street Zen raised shares of Evergy from a “sell” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $79.61.

Insiders Place Their Bets

In other Evergy news, SVP Lesley Lissette Elwell sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $72.33, for a total transaction of $578,640.00. Following the sale, the senior vice president owned 499 shares of the company’s stock, valued at approximately $36,092.67. The trade was a 94.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.42% of the company’s stock.

Evergy Stock Down 1.2%

NASDAQ:EVRG opened at $76.81 on Monday. The company has a market cap of $17.68 billion, a PE ratio of 21.10, a P/E/G ratio of 3.56 and a beta of 0.57. Evergy Inc. has a twelve month low of $59.23 and a twelve month high of $79.32. The company has a current ratio of 0.50, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $74.70 and its two-hundred day moving average is $70.79.

Evergy (NASDAQ:EVRG) last released its earnings results on Thursday, August 7th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.45 billion. Evergy had a net margin of 14.29% and a return on equity of 8.62%. Evergy’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Analysts anticipate that Evergy Inc. will post 3.83 EPS for the current year.

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.