Commerce Bank Purchases 363 Shares of Evergy Inc. (NASDAQ:EVRG)

Commerce Bank increased its stake in Evergy Inc. (NASDAQ:EVRG) by 1.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,104 shares of the company’s stock after acquiring an additional 363 shares during the period. Commerce Bank’s holdings in Evergy were worth $2,489,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EVRG. Brighton Jones LLC purchased a new position in Evergy in the fourth quarter worth $257,000. Schroder Investment Management Group grew its position in Evergy by 5.1% in the fourth quarter. Schroder Investment Management Group now owns 36,857 shares of the company’s stock worth $2,267,000 after acquiring an additional 1,795 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in Evergy by 60.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 16,620 shares of the company’s stock worth $1,023,000 after acquiring an additional 6,248 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in Evergy in the fourth quarter worth $4,566,000. Finally, KCM Investment Advisors LLC grew its position in Evergy by 3.7% in the fourth quarter. KCM Investment Advisors LLC now owns 5,946 shares of the company’s stock worth $366,000 after acquiring an additional 210 shares in the last quarter. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Jefferies Financial Group set a $78.00 target price on shares of Evergy and gave the stock a “buy” rating in a research report on Tuesday, June 10th. UBS Group upgraded shares of Evergy from a “neutral” rating to a “buy” rating and upped their price target for the company from $68.00 to $78.00 in a research report on Monday, April 28th. Citigroup upped their price target on shares of Evergy from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Mizuho upped their price target on shares of Evergy from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, July 18th. Finally, Barclays cut their price target on shares of Evergy from $73.00 to $71.00 and set an “overweight” rating for the company in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.06.

Evergy Stock Performance

Shares of NASDAQ:EVRG opened at $73.12 on Tuesday. The company has a market cap of $16.82 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 3.13 and a beta of 0.48. The company has a 50-day moving average price of $68.28 and a 200-day moving average price of $67.24. The company has a current ratio of 0.55, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24. Evergy Inc. has a 12 month low of $57.28 and a 12 month high of $73.29.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.12). The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.21 billion. Evergy had a net margin of 14.87% and a return on equity of 8.84%. During the same period last year, the company posted $0.54 earnings per share. As a group, equities 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.