Nomura Asset Management Co. Ltd. Purchases 7,280 Shares of Evergy, Inc. (NASDAQ:EVRG)

Nomura Asset Management Co. Ltd. raised its position in Evergy, Inc. (NASDAQ:EVRG) by 11.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,927 shares of the company’s stock after acquiring an additional 7,280 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Evergy were worth $4,460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of EVRG. Millennium Management LLC boosted its stake in shares of Evergy by 38.6% during the 2nd quarter. Millennium Management LLC now owns 3,683,000 shares of the company’s stock worth $195,089,000 after acquiring an additional 1,026,374 shares during the last quarter. Federated Hermes Inc. lifted its position in 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 purchasing an additional 552,455 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Evergy by 25.8% during the third quarter. Point72 Asset Management L.P. now owns 2,848,735 shares of the company’s stock valued at $176,650,000 after purchasing an additional 583,923 shares during the period. Pathway Financial Advisers LLC grew its holdings in Evergy by 6,854.6% during the third quarter. Pathway Financial Advisers LLC now owns 2,539,001 shares of the company’s stock valued at $157,443,000 after purchasing an additional 2,502,493 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Evergy by 42.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,135,011 shares of the company’s stock worth $132,392,000 after buying an additional 634,735 shares during the period. 87.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Evergy

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the sale, the executive vice president now directly owns 1 shares in the company, valued at $62.93. This represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Evergy Trading Down 0.3 %

Shares of Evergy stock opened at $61.91 on Friday. Evergy, Inc. has a twelve month low of $48.04 and a twelve month high of $65.47. The company has a quick ratio of 0.32, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average price of $62.08 and a 200-day moving average price of $58.75. The firm has a market cap of $14.24 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.77 and a beta of 0.64.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings results on Thursday, November 7th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the company earned $1.88 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that Evergy, Inc. will post 3.85 EPS for the current fiscal year.

Evergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, November 21st will be paid a dividend of $0.6675 per share. This is an increase from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, November 21st. This represents a $2.67 dividend on an annualized basis and a yield of 4.31%. Evergy’s dividend payout ratio is presently 72.16%.

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.