Commerce Bank Invests $3.64 Million in Evergy Inc. $EVRG

Commerce Bank acquired a new position in shares of Evergy Inc. (NASDAQ:EVRG) in the 2nd quarter, Holdings Channel reports. The fund acquired 42,162 shares of the company’s stock, valued at approximately $3,644,000.

Other hedge funds have also recently added to or reduced their stakes in the company. MidFirst Bank acquired a new stake in Evergy in the 4th quarter valued at approximately $25,000. Knuff & Co LLC acquired a new position in shares of Evergy during the second quarter worth approximately $30,000. Clearstead Trust LLC acquired a new position in shares of Evergy during the second quarter worth approximately $33,000. Prosperity Bancshares Inc bought a new stake in shares of Evergy in the fourth quarter valued at approximately $32,000. Finally, Cedar Mountain Advisors LLC bought a new stake in shares of Evergy in the first quarter valued at approximately $40,000. Institutional investors own 87.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EVRG shares. Barclays raised their price objective on shares of Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Evergy in a report on Friday, August 7th. BMO Capital Markets raised their price target on shares of Evergy from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. UBS Group raised their price target on shares of Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, BTIG Research set a $97.00 price objective on shares of Evergy in a report on Thursday, July 23rd. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.60.

Evergy Price Performance

Shares of EVRG stock opened at $81.39 on Tuesday. Evergy Inc. has a 12 month low of $70.42 and a 12 month high of $88.62. The company has a market capitalization of $18.77 billion, a P/E ratio of 20.66, a P/E/G ratio of 2.10 and a beta of 0.54. The stock has a 50 day moving average of $84.73 and a two-hundred day moving average of $82.89. The company has a current ratio of 0.36, a quick ratio of 0.21 and a debt-to-equity ratio of 1.20.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Evergy had a return on equity of 9.20% and a net margin of 15.19%.During the same period in the previous year, the business posted $0.82 earnings per share. As a group, equities analysts expect that Evergy Inc. will post 4.25 EPS for the current year.

Evergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.695 per share. The ex-dividend date is Tuesday, August 18th. This represents a $2.78 dividend on an annualized basis and a yield of 3.4%. Evergy’s payout ratio is currently 70.56%.

Insider Buying and Selling at Evergy

In other Evergy news, Director Sandra Aj Lawrence sold 600 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $81.41, for a total value of $48,846.00. Following the sale, the director owned 680 shares of the company’s stock, valued at $55,358.80. The trade was a 46.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $83.46, for a total transaction of $900,283.02. Following the completion of the transaction, the executive vice president owned 37,789 shares of the company’s stock, valued at approximately $3,153,869.94. This represents a 22.21% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 12,748 shares of company stock worth $1,061,870 in the last three months. Insiders own 1.52% of the company’s stock.

About Evergy

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.