Korea Investment CORP Has $22.09 Million Stake in Evergy Inc. $EVRG

Korea Investment CORP lowered its position in shares of Evergy Inc. (NASDAQ:EVRG) by 15.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 290,604 shares of the company’s stock after selling 53,745 shares during the quarter. Korea Investment CORP owned about 0.13% of Evergy worth $22,092,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Synergy Asset Management LLC raised its holdings in shares of Evergy by 100.0% during the third quarter. Synergy Asset Management LLC now owns 148,940 shares of the company’s stock valued at $11,322,000 after purchasing an additional 74,470 shares during the period. Caprock Group LLC bought a new position in shares of Evergy during the 3rd quarter worth about $1,482,000. Kingsview Wealth Management LLC acquired a new stake in shares of Evergy in the 2nd quarter valued at about $246,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Evergy in the 3rd quarter valued at about $72,860,000. Finally, iA Global Asset Management Inc. increased its position in Evergy by 207.0% in the 3rd quarter. iA Global Asset Management Inc. now owns 22,624 shares of the company’s stock valued at $1,720,000 after buying an additional 15,254 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Evergy Trading Down 1.4%

EVRG opened at $81.93 on Wednesday. Evergy Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $85.23. The firm has a market capitalization of $18.87 billion, a PE ratio of 22.32, a P/E/G ratio of 3.30 and a beta of 0.65. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.49 and a quick ratio of 0.27. The company’s 50-day moving average is $78.16 and its 200 day moving average is $75.99.

Evergy (NASDAQ:EVRG) last released 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 3.83 earnings per share for the current fiscal year.

Evergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be given a dividend of $0.695 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.78 annualized dividend and a dividend yield of 3.4%. Evergy’s payout ratio is presently 75.75%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EVRG. Mizuho set a $82.00 price target on Evergy in a research note on Monday, February 23rd. Wall Street Zen raised Evergy from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Wells Fargo & Company boosted their price objective on Evergy from $79.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, February 20th. BMO Capital Markets upped their target price on Evergy from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Monday, February 23rd. Finally, UBS Group cut Evergy from a “buy” rating to a “neutral” rating and increased their target price for the stock from $86.00 to $88.00 in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Evergy has an average rating of “Moderate Buy” and a consensus price target of $87.75.

Insider Transactions at Evergy

In related news, Director Ann D. Murtlow sold 2,847 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $82.34, for a total transaction of $234,421.98. Following the completion of the sale, the director owned 2,311 shares in the company, valued at approximately $190,287.74. This represents a 55.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.42% of the company’s stock.

About Evergy

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.