Envestnet Asset Management Inc. Boosts Stock Position in Evergy, Inc. (NYSE:EVRG)

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new position in Evergy in the first quarter valued at about $32,000. Toth Financial Advisory Corp grew its stake in Evergy by 199.5% in the first quarter. Toth Financial Advisory Corp now owns 635 shares of the company’s stock valued at $34,000 after purchasing an additional 423 shares during the last quarter. Rothschild Investment LLC purchased a new position in Evergy in the second quarter valued at about $37,000. Hantz Financial Services Inc. purchased a new position in Evergy in the second quarter valued at about $41,000. Finally, Riverview Trust Co purchased a new position in Evergy in the first quarter valued at about $43,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Evergy Trading Down 0.5 %

Evergy stock 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. Evergy, Inc. has a 52 week low of $46.92 and a 52 week high of $62.58. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 3.12 and a beta of 0.62. The stock has a 50-day moving average price of $58.93 and a 200 day moving average price of $55.10.

Evergy (NYSE:EVRG) last released its earnings results on Friday, August 9th. The company reported $0.90 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 firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. Sell-side analysts anticipate that Evergy, Inc. will post 3.85 EPS for the current year.

Evergy Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Barclays lifted their target price on Evergy from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. UBS Group raised Evergy to a “hold” rating in a report on Wednesday, September 18th. Finally, Jefferies Financial Group began coverage on Evergy in a report on Thursday, September 19th. They issued a “buy” rating and a $70.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Evergy presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Insider Buying and Selling

In related news, SVP Charles A. Caisley sold 9,236 shares of Evergy stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 33,425 shares in the company, valued at $1,993,132.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Charles A. Caisley sold 9,236 shares of Evergy stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 33,425 shares in the company, valued at $1,993,132.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Heather A. Humphrey sold 3,347 shares of Evergy stock in a transaction that occurred 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 of the company’s stock, valued at $2,076,463.20. The disclosure for this sale can be found here. Insiders sold 15,884 shares of company stock valued at $941,810 over the last quarter. 0.47% of the stock is currently owned by company insiders.

About Evergy

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.