Morningstar Investment Management LLC Invests $233,000 in Evergy Inc. $EVRG

Morningstar Investment Management LLC purchased a new position in shares of Evergy Inc. (NASDAQ:EVRG) during the second quarter, HoldingsChannel.com reports. The fund purchased 3,377 shares of the company’s stock, valued at approximately $233,000.

Other large investors have also made changes to their positions in the company. Bfsg LLC acquired a new position in shares of Evergy during the first quarter worth $25,000. Alpine Bank Wealth Management acquired a new position in shares of Evergy during the first quarter worth $32,000. LRI Investments LLC acquired a new position in shares of Evergy during the first quarter worth $32,000. Clearstead Trust LLC acquired a new position in shares of Evergy during the first quarter worth $32,000. Finally, Olde Wealth Management LLC acquired a new position in shares of Evergy during the first quarter worth $32,000. 87.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on EVRG shares. Jefferies Financial Group upped 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. Mizuho upped their target price on Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Barclays reissued an “outperform” rating on shares of Evergy in a research report on Thursday, October 9th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Evergy in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $76.94.

Evergy Price Performance

Shares of EVRG opened at $78.09 on Wednesday. The business’s 50-day moving average is $73.30 and its two-hundred day moving average is $69.73. The company has a market capitalization of $17.97 billion, a P/E ratio of 21.45, a P/E/G ratio of 3.59 and a beta of 0.57. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50. Evergy Inc. has a fifty-two week low of $59.23 and a fifty-two week high of $78.56.

Evergy (NASDAQ:EVRG) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS. Evergy has set its FY 2025 guidance at 3.920-4.120 EPS. Research analysts predict that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The business also recently declared 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. This represents a $2.67 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Evergy’s dividend payout ratio (DPR) is currently 73.35%.

Insiders Place Their Bets

In other Evergy news, SVP Lesley Lissette Elwell sold 8,000 shares of the stock in a transaction dated 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 directly owned 499 shares of the company’s stock, valued at approximately $36,092.67. This trade represents a 94.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.42% of the company’s stock.

About Evergy

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.