Kimelman & Baird LLC Invests $215,000 in Evergy, Inc. (NYSE:EVRG)

Kimelman & Baird LLC acquired a new position in shares of Evergy, Inc. (NYSE:EVRG) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,054 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of EVRG. Gilbert & Cook Inc. raised its holdings in Evergy by 4.7% during the 4th quarter. Gilbert & Cook Inc. now owns 7,008 shares of the company’s stock valued at $366,000 after buying an additional 317 shares during the period. Evoke Wealth LLC raised its holdings in Evergy by 13.1% during the 4th quarter. Evoke Wealth LLC now owns 4,935 shares of the company’s stock valued at $258,000 after buying an additional 570 shares during the period. Alberta Investment Management Corp purchased a new stake in Evergy during the 4th quarter valued at $204,000. APG Asset Management US Inc. purchased a new stake in Evergy during the 4th quarter valued at $2,057,000. Finally, KBC Group NV raised its holdings in Evergy by 15.3% during the 4th quarter. KBC Group NV now owns 12,275 shares of the company’s stock valued at $641,000 after buying an additional 1,625 shares during the period. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Price Performance

EVRG opened at $62.01 on Tuesday. Evergy, Inc. has a 12-month low of $46.92 and a 12-month high of $62.58. The company has a current ratio of 0.59, a quick ratio of 0.35 and a debt-to-equity ratio of 1.23. The business’s fifty day simple moving average is $59.45 and its 200-day simple moving average is $55.40. The company has a market capitalization of $14.26 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.76 and a beta of 0.62.

Evergy (NYSE:EVRG) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.90 earnings per share (EPS) 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 the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company earned $0.81 EPS. On average, equities research analysts anticipate that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, August 20th were given a dividend of $0.6425 per share. This represents a $2.57 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Tuesday, August 20th. Evergy’s payout ratio is currently 83.17%.

Insider Activity at Evergy

In related news, Director Ann D. Murtlow sold 3,301 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $58.85, for a total transaction of $194,263.85. Following the sale, the director now owns 2,847 shares of the company’s stock, valued at $167,545.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Evergy news, SVP Charles A. Caisley sold 9,236 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total value of $550,742.68. Following the completion of the sale, the senior vice president now directly owns 33,425 shares in the company, valued at $1,993,132.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ann D. Murtlow sold 3,301 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total value of $194,263.85. Following the completion of the sale, the director now owns 2,847 shares of the company’s stock, valued at $167,545.95. The disclosure for this sale can be found here. Insiders have sold a total of 15,884 shares of company stock valued at $941,810 over the last quarter. 0.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EVRG has been the topic of several research analyst reports. Barclays upped their price objective on Evergy from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. 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 objective on the stock. Finally, UBS Group raised Evergy to a “hold” rating in a research report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.00.

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.