Envestnet Asset Management Inc. Acquires 35,940 Shares of Evergy, Inc. (NYSE:EVRG)

Envestnet Asset Management Inc. boosted its holdings in Evergy, Inc. (NYSE:EVRG) by 13.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 307,797 shares of the company’s stock after purchasing an additional 35,940 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.13% of Evergy worth $16,304,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fidelis Capital Partners LLC bought a new position in shares of Evergy during the 1st quarter valued at approximately $32,000. Toth Financial Advisory Corp boosted its position in shares of Evergy by 199.5% during the 1st quarter. Toth Financial Advisory Corp now owns 635 shares of the company’s stock valued at $34,000 after acquiring an additional 423 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Evergy during the 2nd quarter valued at approximately $37,000. Hantz Financial Services Inc. bought a new position in shares of Evergy during the 2nd quarter valued at approximately $41,000. Finally, Riverview Trust Co bought a new position in shares of Evergy during the 1st quarter valued at approximately $43,000. 87.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EVRG has been the subject of a number of research reports. UBS Group upgraded Evergy to a “hold” rating in a research report on Wednesday, September 18th. Barclays increased their target price on Evergy from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group initiated coverage on Evergy in a research report on Thursday, September 19th. They issued a “buy” rating and a $70.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Evergy Stock Down 0.5 %

Shares of EVRG opened at $61.71 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.59 and a debt-to-equity ratio of 1.23. The business has a fifty day moving average of $58.93 and a 200 day moving average of $55.10. Evergy, Inc. has a 52-week low of $46.92 and a 52-week high of $62.58. The company has a market cap of $14.19 billion, a PE ratio of 19.97, a P/E/G ratio of 3.12 and a beta of 0.62.

Evergy (NYSE:EVRG) last released its earnings results on Friday, August 9th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. Evergy had a return on equity of 8.50% and a net margin of 13.12%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm posted $0.81 earnings per share. On average, sell-side analysts expect that Evergy, Inc. will post 3.85 EPS for the current year.

Evergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, August 20th were paid a $0.6425 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $2.57 dividend on an annualized basis and a yield of 4.16%. Evergy’s payout ratio is 83.17%.

Insiders Place Their Bets

In other Evergy news, SVP Charles A. Caisley sold 9,236 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total value of $550,742.68. Following the sale, the senior vice president now owns 33,425 shares in the company, valued at $1,993,132.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Charles A. Caisley sold 9,236 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total transaction of $550,742.68. Following the transaction, the senior vice president now owns 33,425 shares in the company, valued at $1,993,132.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Heather A. Humphrey sold 3,347 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $58.80, for a total value of $196,803.60. Following the transaction, the senior vice president now owns 35,314 shares in the company, valued at approximately $2,076,463.20. The disclosure for this sale can be found here. Insiders have sold a total of 15,884 shares of company stock worth $941,810 over the last quarter. Company insiders own 0.47% of the company’s stock.

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.