Farmers & Merchants Investments Inc. Purchases 19,172 Shares of Evergy, Inc. (NASDAQ:EVRG)

Farmers & Merchants Investments Inc. grew its position in Evergy, Inc. (NASDAQ:EVRG) by 134.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,401 shares of the company’s stock after acquiring an additional 19,172 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Evergy were worth $2,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of EVRG. Sanctuary Advisors LLC purchased a new position in shares of Evergy in the 2nd quarter worth approximately $851,000. Czech National Bank boosted its stake in Evergy by 6.9% during the third quarter. Czech National Bank now owns 46,844 shares of the company’s stock worth $2,905,000 after buying an additional 3,029 shares during the period. Atomi Financial Group Inc. boosted its stake in Evergy by 19.8% during the third quarter. Atomi Financial Group Inc. now owns 6,245 shares of the company’s stock worth $387,000 after buying an additional 1,033 shares during the period. Hexagon Capital Partners LLC increased its position in Evergy by 47.1% during the third quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after acquiring an additional 170 shares during the last quarter. Finally, Marcum Wealth LLC purchased a new stake in shares of Evergy in the third quarter valued at $238,000. 87.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 shares were sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the transaction, the executive vice president now owns 1 shares in the company, valued at approximately $62.93. This represents a 100.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

Evergy Price Performance

NASDAQ EVRG opened at $65.21 on Friday. The company has a market cap of $15.00 billion, a PE ratio of 17.62, a P/E/G ratio of 2.75 and a beta of 0.66. Evergy, Inc. has a 52-week low of $48.04 and a 52-week high of $65.80. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. The firm’s 50 day moving average price is $62.42 and its 200-day moving average price is $61.25.

Evergy (NASDAQ:EVRG) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.95 by $0.07. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.88 EPS. Sell-side analysts forecast that Evergy, Inc. will post 3.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on EVRG. Guggenheim upgraded shares of Evergy from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company increased their price target on Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Barclays dropped their price objective on Evergy from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Mizuho started 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. Finally, LADENBURG THALM/SH SH upgraded shares of Evergy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $59.00 to $68.50 in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $65.36.

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.