Mirae Asset Global Investments Co. Ltd. Grows Position in Evergy Inc. $EVRG

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 21.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,275 shares of the company’s stock after buying an additional 6,921 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Evergy were worth $2,847,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new position in Evergy during the fourth quarter worth $27,000. Accredited Wealth Management LLC grew its position in shares of Evergy by 1,310.3% in the third quarter. Accredited Wealth Management LLC now owns 409 shares of the company’s stock valued at $31,000 after purchasing an additional 380 shares during the period. Sentry Investment Management LLC purchased a new stake in shares of Evergy in the third quarter valued at $41,000. Root Financial Partners LLC purchased a new stake in shares of Evergy in the third quarter valued at $44,000. Finally, TOWER TRUST & INVESTMENT Co purchased a new stake in shares of Evergy in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Insider Buying and Selling at Evergy

In other news, SVP Charles L. King sold 2,440 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $82.19, for a total value of $200,543.60. Following the completion of the sale, the senior vice president owned 18,359 shares of the company’s stock, valued at $1,508,926.21. This represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann D. Murtlow sold 2,847 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $82.34, for a total value of $234,421.98. Following the completion of the sale, the director directly owned 2,311 shares of the company’s stock, valued at $190,287.74. The trade was a 55.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 8,937 shares of company stock valued at $736,492. Company insiders own 1.52% of the company’s stock.

Evergy Price Performance

EVRG stock opened at $79.64 on Thursday. The stock has a 50-day moving average price of $81.99 and a two-hundred day moving average price of $77.94. Evergy Inc. has a 12-month low of $63.29 and a 12-month high of $85.27. The company has a current ratio of 0.49, a quick ratio of 0.27 and a debt-to-equity ratio of 1.27. The company has a market cap of $18.34 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 2.08 and a beta of 0.61.

Evergy (NASDAQ:EVRG) last posted its quarterly earnings results on Saturday, January 31st. The company reported $0.42 earnings per share (EPS) for the quarter. Evergy had a return on equity of 8.79% and a net margin of 14.35%. As a group, research analysts predict that Evergy Inc. will post 4.26 EPS for the current year.

Evergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th were given a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, March 10th. Evergy’s payout ratio is 75.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EVRG shares. UBS Group downgraded Evergy from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $86.00 to $88.00 in a research report on Friday, February 13th. Wall Street Zen raised Evergy from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $91.00 price objective on shares of Evergy in a research report on Friday, January 23rd. Bank of America lowered their price objective on Evergy from $89.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Finally, BTIG Research started coverage on Evergy in a research report on Thursday, April 9th. They issued a “buy” rating and a $99.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.30.

Evergy Profile

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company’s business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.