Evergy Inc. $EVRG Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Evergy Inc. (NASDAQ:EVRG) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 508,180 shares of the company’s stock after selling 13,803 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Evergy were worth $39,862,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in EVRG. MidFirst Bank bought a new stake in shares of Evergy in the 2nd quarter worth about $30,000. Knuff & Co LLC bought a new position in shares of Evergy during the second quarter worth about $30,000. Burk Holdings LLC bought a new position in shares of Evergy during the second quarter worth about $31,000. Clearstead Trust LLC bought a new position in shares of Evergy during the second quarter worth about $33,000. Finally, Balance Wealth Partners LLC acquired a new position in Evergy in the third quarter worth about $31,000. 87.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on EVRG. BMO Capital Markets lowered their price objective on Evergy from $89.00 to $85.00 and set an “outperform” rating for the company in a report on Tuesday, October 13th. Citigroup increased their target price on Evergy from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Truist Financial began coverage on Evergy in a research report on Tuesday, October 27th. They issued a “buy” rating and a $97.00 target price for the company. DA Davidson set a $85.00 price target on Evergy in a report on Tuesday, October 13th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Evergy in a research report on Friday, October 9th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Evergy has a consensus rating of “Moderate Buy” and an average price target of $90.00.

Evergy Stock Up 0.9%

Shares of Evergy stock opened at $86.21 on Thursday. The company has a current ratio of 0.36, a quick ratio of 0.21 and a debt-to-equity ratio of 1.20. The business’s 50 day simple moving average is $81.57 and its 200-day simple moving average is $82.15. The stock has a market capitalization of $19.88 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.21 and a beta of 0.49. Evergy Inc. has a twelve month low of $71.40 and a twelve month high of $88.62.

Evergy (NASDAQ:EVRG) last released its quarterly earnings data 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. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.36 billion. Evergy had a return on equity of 9.20% and a net margin of 15.19%. During the same quarter in the previous year, the firm posted $0.82 EPS. Equities research analysts forecast that Evergy Inc. will post 4.27 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jonathan Rolph bought 1,640 shares of the business’s stock in a transaction on Friday, September 11th. The shares were bought at an average cost of $81.47 per share, for a total transaction of $133,610.80. Following the completion of the purchase, the director owned 670 shares of the company’s stock, valued at $54,584.90. This represents a -169.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is owned by corporate insiders.

About Evergy

Evergy, Inc is an investor-owned electric utility that generates, transmits, distributes and sells electricity to residential, commercial, industrial and municipal customers. The company operates regulated utilities in Kansas and Missouri, providing electric service through its Kansas Central, Kansas South, Missouri Metro and Missouri West operations.

Evergy’s generation portfolio includes wind, solar, coal, natural gas and nuclear power. The company also owns an interest in the Wolf Creek Generating Station, a nuclear power plant in Kansas, and continues to invest in renewable energy, grid modernization and other infrastructure intended to support reliable electricity service.

Evergy was formed in 2018 through the merger of Westar Energy and Great Plains Energy, the parent company of Kansas City Power & Light.