Asset Management One Co. Ltd. Buys 37,305 Shares of Evergy Inc. $EVRG

Asset Management One Co. Ltd. grew its stake in Evergy Inc. (NASDAQ:EVRG) by 39.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 132,499 shares of the company’s stock after purchasing an additional 37,305 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Evergy were worth $9,133,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Nuveen LLC bought a new position in shares of Evergy in the 1st quarter valued at about $212,132,000. Northern Trust Corp grew its holdings in Evergy by 16.7% during the first quarter. Northern Trust Corp now owns 2,737,480 shares of the company’s stock worth $188,749,000 after purchasing an additional 392,361 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Evergy by 0.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,174,047 shares of the company’s stock worth $149,901,000 after purchasing an additional 13,555 shares during the period. Jennison Associates LLC grew its holdings in Evergy by 11.2% during the first quarter. Jennison Associates LLC now owns 1,730,849 shares of the company’s stock worth $119,342,000 after purchasing an additional 174,269 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Evergy by 27.7% during the first quarter. AQR Capital Management LLC now owns 1,482,508 shares of the company’s stock worth $101,715,000 after purchasing an additional 321,406 shares during the period. Institutional investors own 87.24% of the company’s stock.

Insider Buying and Selling

In related news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy stock in a transaction on Monday, September 15th. The shares were sold at an average price of $72.33, for a total value of $578,640.00. Following the transaction, the senior vice president owned 499 shares in the company, valued at $36,092.67. This trade represents a 94.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

EVRG has been the subject of several research reports. Royal Bank Of Canada set a $93.00 price objective on shares of Evergy and gave the stock an “outperform” rating in a research report on Monday. Jefferies Financial Group lifted their price target on shares of Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Evergy in a research report on Wednesday, October 8th. Mizuho boosted their target price on shares of Evergy from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Finally, Wells Fargo & Company assumed coverage on shares of Evergy in a research note on Monday. They issued an “overweight” rating and a $77.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $79.61.

Evergy Price Performance

Evergy stock opened at $78.31 on Tuesday. The business has a fifty day moving average price of $74.31 and a 200-day moving average price of $70.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.50 and a quick ratio of 0.27. Evergy Inc. has a one year low of $59.23 and a one year high of $79.32. The firm has a market capitalization of $18.02 billion, a P/E ratio of 21.51, a PEG ratio of 3.60 and a beta of 0.57.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. Evergy had a net margin of 14.29% and a return on equity of 8.62%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the firm earned $0.90 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. As a group, equities research analysts forecast that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Evergy’s payout ratio is currently 73.35%.

Evergy Company Profile

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.