Legal & General Group Plc Purchases 68,559 Shares of Evergy Inc. $EVRG

Legal & General Group Plc raised its position in Evergy Inc. (NASDAQ:EVRG) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,834,286 shares of the company’s stock after buying an additional 68,559 shares during the quarter. Legal & General Group Plc owned about 0.80% of Evergy worth $126,437,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in EVRG. Clearstead Trust LLC purchased a new stake in Evergy in the 1st quarter worth about $32,000. Cary Street Partners Investment Advisory LLC bought a new position in Evergy during the first quarter worth about $34,000. Bfsg LLC increased its stake in shares of Evergy by 82.2% in the second quarter. Bfsg LLC now owns 665 shares of the company’s stock worth $46,000 after purchasing an additional 300 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Evergy in the first quarter valued at approximately $48,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Evergy during the 2nd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Trading Up 1.5%

Evergy stock opened at $77.02 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50. Evergy Inc. has a fifty-two week low of $59.67 and a fifty-two week high of $79.32. The stock has a market cap of $17.73 billion, a P/E ratio of 21.16, a PEG ratio of 3.56 and a beta of 0.61. The firm’s fifty day moving average price is $76.26 and its 200-day moving average price is $71.69.

Evergy (NASDAQ:EVRG) last posted its earnings results on Wednesday, November 5th. The company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.11). Evergy had a return on equity of 8.62% and a net margin of 14.29%.The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the firm earned $2.02 earnings per share. Evergy’s quarterly revenue was down .1% compared to the same quarter last year. Equities research analysts forecast that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, November 21st will be paid a $0.695 dividend. This is an increase from Evergy’s previous quarterly dividend of $0.67. This represents a $2.78 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, November 21st. Evergy’s payout ratio is 76.16%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on EVRG shares. Jefferies Financial Group boosted their target price on shares of Evergy from $77.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Royal Bank Of Canada upgraded Evergy to a “moderate buy” rating in a research report on Tuesday, October 28th. Wells Fargo & Company raised Evergy to a “hold” rating in a report on Tuesday, October 28th. Wall Street Zen upgraded Evergy from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Evergy in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $80.72.

Insiders Place Their Bets

In other Evergy news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy 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 completion of the sale, the senior vice president directly owned 499 shares in the company, valued at $36,092.67. The trade was a 94.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.42% of the stock is owned by corporate insiders.

Evergy 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.