Sumitomo Mitsui DS Asset Management Company Ltd Purchases 1,201 Shares of Evergy, Inc. (NYSE:EVRG)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Evergy, Inc. (NYSE:EVRG) by 2.8% in the second quarter, Holdings Channel.com reports. The firm owned 43,576 shares of the company’s stock after purchasing an additional 1,201 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Evergy were worth $2,308,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new stake in Evergy in the first quarter worth $32,000. Toth Financial Advisory Corp lifted its holdings in Evergy by 199.5% during the 1st quarter. Toth Financial Advisory Corp now owns 635 shares of the company’s stock valued at $34,000 after buying an additional 423 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in Evergy by 222.2% during the 4th quarter. Hexagon Capital Partners LLC now owns 667 shares of the company’s stock valued at $35,000 after buying an additional 460 shares in the last quarter. Northwest Financial Advisors bought a new position in Evergy in the 4th quarter worth about $42,000. Finally, Riverview Trust Co bought a new position in Evergy in the 1st quarter worth about $43,000. 87.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Evergy from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Wells Fargo & Company lifted their target price on Evergy from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.33.

Evergy Price Performance

NYSE EVRG opened at $59.14 on Friday. The company has a market cap of $13.60 billion, a PE ratio of 19.14, a P/E/G ratio of 3.11 and a beta of 0.60. The firm’s 50 day moving average price is $56.40 and its 200-day moving average price is $53.77. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.32 and a current ratio of 0.57. Evergy, Inc. has a 52-week low of $46.92 and a 52-week high of $61.14.

Evergy (NYSE:EVRG) last announced its earnings results on Friday, August 9th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. Evergy had a return on equity of 8.32% and a net margin of 12.84%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the firm earned $0.81 EPS. Sell-side analysts forecast that Evergy, Inc. will post 3.84 EPS for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, August 20th will be given a dividend of $0.6425 per share. This represents a $2.57 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend is Tuesday, August 20th. Evergy’s payout ratio is currently 83.17%.

Insider Buying and Selling at Evergy

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

Evergy Company 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.