abrdn plc Increases Stake in Evergy, Inc. (NYSE:EVRG)

abrdn plc raised its holdings in shares of Evergy, Inc. (NYSE:EVRG) by 28.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,821 shares of the company’s stock after acquiring an additional 10,961 shares during the quarter. abrdn plc’s holdings in Evergy were worth $3,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Fairscale Capital LLC bought a new stake in Evergy during the second quarter valued at about $27,000. Fidelis Capital Partners LLC purchased a new position in shares of Evergy during the 1st quarter valued at about $32,000. Hexagon Capital Partners LLC grew its stake in shares of Evergy by 47.1% during the 3rd 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 period. Rothschild Investment LLC purchased a new stake in Evergy in the 2nd quarter worth approximately $37,000. Finally, Hantz Financial Services Inc. bought a new stake in Evergy during the 2nd quarter worth approximately $41,000. Institutional investors own 87.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on EVRG shares. Jefferies Financial Group initiated coverage on shares of Evergy in a research report on Thursday, September 19th. They issued a “buy” rating and a $70.00 price target for the company. Wells Fargo & Company increased their price target on Evergy from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Barclays decreased their price target on Evergy from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. UBS Group raised Evergy to a “hold” rating in a research note on Wednesday, September 18th. Finally, Mizuho started coverage on Evergy in a research note on Tuesday, October 29th. They set an “outperform” rating and a $67.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.88.

Evergy Stock Down 1.4 %

NYSE EVRG opened at $59.58 on Monday. The stock has a 50 day moving average price of $60.56 and a 200-day moving average price of $56.80. Evergy, Inc. has a one year low of $47.97 and a one year high of $62.58. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.35 and a current ratio of 0.59. The company has a market capitalization of $13.70 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.69 and a beta of 0.62.

Evergy (NYSE:EVRG) last issued its quarterly earnings data on Friday, August 9th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Evergy had a net margin of 13.12% and a return on equity of 8.50%. During the same period last year, the company posted $0.81 EPS. As a group, equities analysts predict that Evergy, Inc. will post 3.84 EPS for the current fiscal year.

Evergy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, August 20th were issued a dividend of $0.6425 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $2.57 annualized dividend and a yield of 4.31%. Evergy’s payout ratio is presently 80.06%.

Insider Buying and Selling

In related news, Director Ann D. Murtlow sold 3,301 shares of Evergy stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total transaction of $194,263.85. Following the completion of the transaction, the director now directly owns 2,847 shares of the company’s stock, valued at approximately $167,545.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Evergy news, SVP Charles A. Caisley sold 9,236 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $59.63, for a total value of $550,742.68. Following the sale, the senior vice president now owns 33,425 shares in the company, valued at $1,993,132.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ann D. Murtlow sold 3,301 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $58.85, for a total transaction of $194,263.85. Following the sale, the director now directly owns 2,847 shares of the company’s stock, valued at $167,545.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,884 shares of company stock worth $941,810 over the last three months. 0.47% of the stock is owned by insiders.

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.