Andra AP fonden Cuts Position in Evergy Inc. $EVRG

Andra AP fonden trimmed its stake in Evergy Inc. (NASDAQ:EVRG) by 71.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,555 shares of the company’s stock after selling 44,300 shares during the quarter. Andra AP fonden’s holdings in Evergy were worth $1,335,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Choreo LLC grew its position in Evergy by 2.0% in the 3rd quarter. Choreo LLC now owns 10,690 shares of the company’s stock worth $813,000 after purchasing an additional 210 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Evergy by 9.2% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 466,933 shares of the company’s stock worth $35,496,000 after buying an additional 39,486 shares in the last quarter. AlphaCore Capital LLC raised its stake in Evergy by 607.8% during the 3rd quarter. AlphaCore Capital LLC now owns 3,369 shares of the company’s stock valued at $256,000 after purchasing an additional 2,893 shares during the period. US Bancorp DE raised its position in shares of Evergy by 3.6% during the third quarter. US Bancorp DE now owns 41,375 shares of the company’s stock valued at $3,145,000 after buying an additional 1,455 shares during the last quarter. Finally, Magellan Asset Management Ltd lifted its stake in Evergy by 3.4% in the 3rd quarter. Magellan Asset Management Ltd now owns 2,444,381 shares of the company’s stock worth $185,822,000 after purchasing an additional 79,888 shares in the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

Evergy Trading Up 0.8%

Shares of Evergy stock opened at $83.66 on Monday. The firm has a market capitalization of $19.27 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 3.32 and a beta of 0.65. The company has a current ratio of 0.49, a quick ratio of 0.27 and a debt-to-equity ratio of 1.27. The firm’s 50 day simple moving average is $76.67 and its two-hundred day simple moving average is $75.44. Evergy Inc. has a 12-month low of $61.94 and a 12-month high of $84.08.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Saturday, January 31st. The company reported $0.42 earnings per share for the quarter. Evergy had a return on equity of 8.79% and a net margin of 14.35%. Analysts predict that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th will be issued a $0.695 dividend. This represents a $2.78 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, March 10th. Evergy’s dividend payout ratio is presently 75.75%.

Insider Activity at Evergy

In related news, Director Ann D. Murtlow sold 2,847 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $82.34, for a total transaction of $234,421.98. Following the sale, the director directly owned 2,311 shares of the company’s stock, valued at $190,287.74. This trade represents a 55.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.42% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Evergy from $79.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, February 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Evergy in a research report on Monday, December 29th. Citigroup upped their price target on shares of Evergy from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, February 20th. UBS Group downgraded Evergy from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $86.00 to $88.00 in a report on Friday, February 13th. Finally, Barclays raised their target price on shares of Evergy from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Evergy currently has an average rating of “Moderate Buy” and an average target price of $86.88.

Evergy Profile

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.