Evergy Inc. $EVRG Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Evergy Inc. (NASDAQ:EVRG) by 9.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,160,181 shares of the company’s stock after buying an additional 96,765 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Evergy were worth $100,274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MidFirst Bank bought a new position in Evergy during the 4th quarter worth approximately $25,000. Knuff & Co LLC bought a new stake in shares of Evergy in the 2nd quarter valued at approximately $30,000. Burk Holdings LLC acquired a new stake in shares of Evergy during the 2nd quarter valued at approximately $31,000. Clearstead Trust LLC acquired a new stake in shares of Evergy during the 2nd quarter valued at approximately $33,000. Finally, Fiduciary Financial Advisors bought a new position in Evergy during the second quarter worth $34,000. Institutional investors and hedge funds own 87.24% of the company’s stock.

Evergy Stock Up 0.6%

EVRG stock opened at $81.52 on Wednesday. The stock has a market cap of $18.80 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.10 and a beta of 0.53. The firm’s 50-day simple moving average is $84.50 and its 200 day simple moving average is $83.04. Evergy Inc. has a fifty-two week low of $70.42 and a fifty-two week high of $88.62. The company has a quick ratio of 0.21, a current ratio of 0.36 and a debt-to-equity ratio of 1.20.

Evergy (NASDAQ:EVRG) last posted its earnings results on Wednesday, August 5th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. Evergy had a net margin of 15.19% and a return on equity of 9.20%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business posted $0.82 EPS. As a group, sell-side analysts predict that Evergy Inc. will post 4.25 EPS for the current year.

Evergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.695 per share. The ex-dividend date is Tuesday, August 18th. This represents a $2.78 annualized dividend and a dividend yield of 3.4%. Evergy’s payout ratio is currently 70.56%.

Insider Activity

In related news, EVP Charles A. Caisley sold 10,787 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $83.46, for a total value of $900,283.02. Following the completion of the transaction, the executive vice president directly owned 37,789 shares of the company’s stock, valued at $3,153,869.94. This represents a 22.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BMO Capital Markets lifted their price objective on shares of Evergy from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Citigroup raised their price target on shares of Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Evergy in a research report on Friday, August 7th. UBS Group raised their target price on shares of Evergy from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Barclays increased their price target on Evergy from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 30th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Evergy has a consensus rating of “Moderate Buy” and a consensus price target of $90.60.

Evergy Company 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.