The Manufacturers Life Insurance Company Buys 17,074 Shares of Evergy, Inc. (NYSE:EVRG)

The Manufacturers Life Insurance Company grew its position in Evergy, Inc. (NYSE:EVRG) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 738,756 shares of the company’s stock after purchasing an additional 17,074 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.32% of Evergy worth $39,132,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Evergy by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 31,046,328 shares of the company’s stock worth $1,657,253,000 after purchasing an additional 288,913 shares during the last quarter. Millennium Management LLC grew its position in Evergy by 38.6% in the 2nd quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock worth $195,089,000 after purchasing an additional 1,026,374 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Evergy by 1,038.7% during the 4th quarter. Point72 Asset Management L.P. now owns 3,612,200 shares of the company’s stock worth $188,557,000 after purchasing an additional 3,294,967 shares during the period. Federated Hermes Inc. raised its position in shares of Evergy by 18.8% during the second quarter. Federated Hermes Inc. now owns 3,490,674 shares of the company’s stock valued at $184,901,000 after buying an additional 552,455 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Evergy by 5.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,686,541 shares of the company’s stock valued at $141,787,000 after buying an additional 134,236 shares during the period. Institutional investors own 87.24% of the company’s stock.

Evergy Price Performance

Evergy stock opened at $61.94 on Monday. The business’s fifty day moving average is $59.32 and its two-hundred day moving average is $55.32. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.35 and a current ratio of 0.59. The firm has a market cap of $14.24 billion, a P/E ratio of 20.05, a P/E/G ratio of 2.76 and a beta of 0.62. Evergy, Inc. has a 52 week low of $46.92 and a 52 week high of $62.58.

Evergy (NYSE:EVRG) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. Evergy had a net margin of 13.12% and a return on equity of 8.50%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company posted $0.81 EPS. Equities research analysts forecast that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.6425 per share. This represents a $2.57 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Tuesday, August 20th. Evergy’s dividend payout ratio (DPR) is presently 83.17%.

Analysts Set New Price Targets

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

Insider Activity at Evergy

In other Evergy news, SVP Charles A. Caisley sold 9,236 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total transaction of $550,742.68. Following the transaction, the senior vice president now directly owns 33,425 shares in the company, valued at approximately $1,993,132.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Evergy 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 transaction, the director now owns 2,847 shares in the company, valued at $167,545.95. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Charles A. Caisley sold 9,236 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at $1,993,132.75. 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 90 days. Insiders own 0.47% of the company’s stock.

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.