Evergy Inc. $EVRG Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Evergy Inc. (NASDAQ:EVRG) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 567,432 shares of the company’s stock after buying an additional 28,314 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Evergy were worth $39,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. LRI Investments LLC purchased a new stake in shares of Evergy in the first quarter worth about $32,000. Clearstead Trust LLC acquired a new position in shares of Evergy during the first quarter valued at approximately $32,000. Olde Wealth Management LLC acquired a new position in shares of Evergy during the first quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Evergy during the first quarter valued at approximately $34,000. Finally, Investment Management Corp VA ADV increased its holdings in shares of Evergy by 168.4% in the first quarter. Investment Management Corp VA ADV now owns 569 shares of the company’s stock valued at $39,000 after purchasing an additional 357 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on EVRG. Barclays reissued an “outperform” rating on shares of Evergy in a research note on Thursday, October 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Evergy in a research report on Wednesday, October 8th. Jefferies Financial Group raised their price target on Evergy from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Royal Bank Of Canada began coverage on Evergy in a research report on Monday. They set an “outperform” rating and a $93.00 price target for the company. Finally, Mizuho lifted their target price on Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Evergy currently has an average rating of “Buy” and an average target price of $79.61.

Evergy Stock Performance

Shares of EVRG stock opened at $77.68 on Wednesday. The stock has a market capitalization of $17.88 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 3.62 and a beta of 0.57. Evergy Inc. has a 52-week low of $59.23 and a 52-week high of $79.32. The stock’s 50-day moving average price is $74.41 and its 200 day moving average price is $70.56. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24.

Evergy (NASDAQ:EVRG) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. As a group, equities research analysts forecast that Evergy Inc. will post 3.83 EPS for the current year.

Evergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 22nd were given a dividend of $0.6675 per share. The ex-dividend date was Friday, August 22nd. This represents a $2.67 annualized dividend and a yield of 3.4%. Evergy’s payout ratio is presently 73.35%.

Insider Activity at Evergy

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $72.33, for a total transaction of $578,640.00. Following the sale, the senior vice president owned 499 shares of the company’s stock, valued at $36,092.67. The trade was a 94.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.42% 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.