Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stake in Evergy, Inc. (NYSE:EVRG)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Evergy, Inc. (NYSE:EVRG) by 12.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,017 shares of the company’s stock after buying an additional 5,441 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Evergy were worth $3,040,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in EVRG. Wellington Management Group LLP increased its holdings in shares of Evergy by 12.8% in the 4th quarter. Wellington Management Group LLP now owns 249,422 shares of the company’s stock worth $13,020,000 after buying an additional 28,392 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Evergy in the 1st quarter valued at approximately $43,000. Kingswood Wealth Advisors LLC boosted its holdings in shares of Evergy by 7.0% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 4,573 shares of the company’s stock worth $244,000 after purchasing an additional 300 shares during the period. Sunbelt Securities Inc. increased its position in shares of Evergy by 105.1% during the 1st quarter. Sunbelt Securities Inc. now owns 7,611 shares of the company’s stock valued at $406,000 after purchasing an additional 3,901 shares during the last quarter. Finally, Brookstone Capital Management raised its holdings in Evergy by 18.3% during the 1st quarter. Brookstone Capital Management now owns 23,945 shares of the company’s stock valued at $1,278,000 after buying an additional 3,699 shares during the period. Institutional investors own 87.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on EVRG. Barclays lifted their price objective on shares of Evergy from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Wells Fargo & Company increased their price objective on shares of Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group raised shares of Evergy to a “hold” rating in a research note on Wednesday, September 18th. Finally, Jefferies Financial Group initiated coverage on Evergy in a research note on Thursday, September 19th. They set a “buy” rating and a $70.00 target price on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Evergy has a consensus rating of “Moderate Buy” and an average price target of $61.00.

Evergy Stock Performance

Shares of NYSE:EVRG opened at $61.12 on Monday. The firm’s 50 day simple moving average is $60.11 and its 200-day simple moving average is $56.17. The firm has a market cap of $14.05 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.65 and a beta of 0.62. Evergy, Inc. has a one year low of $47.46 and a one year high of $62.58. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.35 and a current ratio of 0.59.

Evergy (NYSE:EVRG) last released its quarterly earnings data 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 net margin of 13.12% and a return on equity of 8.50%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm earned $0.81 earnings per share. As a group, equities analysts predict that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $2.57 dividend on an annualized basis and a dividend yield of 4.20%. Evergy’s dividend payout ratio is presently 83.17%.

Insider Activity at Evergy

In other Evergy news, Director Ann D. Murtlow sold 3,301 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $58.85, for a total transaction of $194,263.85. Following the completion of the sale, the director now owns 2,847 shares in the company, valued at $167,545.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Evergy news, Director Ann D. Murtlow sold 3,301 shares of the business’s 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 transaction, the director now directly owns 2,847 shares in the company, valued at approximately $167,545.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Heather A. Humphrey sold 3,347 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $58.80, for a total transaction of $196,803.60. Following the sale, the senior vice president now directly owns 35,314 shares of the company’s stock, valued at approximately $2,076,463.20. The trade was a 0.00 % decrease in their ownership of the stock. 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 ninety days. 0.47% of the stock is owned by company insiders.

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.