Principal Financial Group Inc. Boosts Stock Position in Evergy, Inc. (NASDAQ:EVRG)

Principal Financial Group Inc. boosted its holdings in shares of Evergy, Inc. (NASDAQ:EVRG) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 278,197 shares of the company’s stock after purchasing an additional 18,595 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Evergy worth $17,251,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Pathway Financial Advisers LLC raised its position in shares of Evergy by 6,854.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company’s stock valued at $157,443,000 after buying an additional 2,502,493 shares in the last quarter. Mizuho Securities USA LLC increased its stake in Evergy by 7,234.3% during the third quarter. Mizuho Securities USA LLC now owns 1,300,000 shares of the company’s stock worth $80,613,000 after acquiring an additional 1,282,275 shares during the last quarter. FMR LLC raised its position in Evergy by 131.4% during the third quarter. FMR LLC now owns 2,004,414 shares of the company’s stock valued at $124,294,000 after purchasing an additional 1,138,138 shares during the period. Millennium Management LLC lifted its stake in shares of Evergy by 38.6% in the 2nd quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock valued at $195,089,000 after purchasing an additional 1,026,374 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Evergy in the 2nd quarter worth approximately $50,044,000. Institutional investors own 87.24% of the company’s stock.

Evergy Price Performance

Shares of EVRG stock opened at $61.68 on Friday. The company’s 50-day simple moving average is $62.33 and its two-hundred day simple moving average is $59.23. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. Evergy, Inc. has a one year low of $48.04 and a one year high of $65.47. The company has a market capitalization of $14.19 billion, a P/E ratio of 16.67, a P/E/G ratio of 2.75 and a beta of 0.64.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.95 by $0.07. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business posted $1.88 EPS. Evergy’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts anticipate that Evergy, Inc. will post 3.84 EPS for the current year.

Evergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, November 21st were paid a $0.6675 dividend. The ex-dividend date was Thursday, November 21st. This is a positive change from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 dividend on an annualized basis and a yield of 4.33%. Evergy’s dividend payout ratio is 72.16%.

Analyst Ratings Changes

Several analysts recently weighed in on EVRG shares. Wells Fargo & Company increased their price target on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. UBS Group upgraded shares of Evergy to a “hold” rating in a report on Wednesday, September 18th. Barclays dropped their price target on shares of Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Jefferies Financial Group initiated coverage on shares of Evergy in a research report on Thursday, September 19th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, Mizuho assumed coverage on Evergy in a research report on Tuesday, October 29th. They set an “outperform” rating and a $67.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.88.

Insiders Place Their Bets

In other news, EVP Kevin E. Bryant sold 48,141 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $62.93, for a total value of $3,029,513.13. Following the completion of the sale, the executive vice president now owns 1 shares of the company’s stock, valued at approximately $62.93. This represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.