M&T Bank Corp Purchases 1,272 Shares of Evergy, Inc. (NASDAQ:EVRG)

M&T Bank Corp raised its position in shares of Evergy, Inc. (NASDAQ:EVRG) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,300 shares of the company’s stock after acquiring an additional 1,272 shares during the period. M&T Bank Corp owned approximately 0.07% of Evergy worth $10,560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in EVRG. Fairscale Capital LLC bought a new stake in Evergy during the 2nd quarter valued at approximately $27,000. Truvestments Capital LLC acquired a new position in shares of Evergy during the third quarter worth approximately $32,000. Hexagon Capital Partners LLC boosted its position in shares of Evergy by 47.1% in the third 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 acquired a new stake in shares of Evergy in the second quarter worth $37,000. Finally, Hantz Financial Services Inc. bought a new position in Evergy during the second quarter worth $41,000. 87.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Evergy

In other news, EVP Kevin E. Bryant sold 48,141 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $62.93, for a total value of $3,029,513.13. Following the completion of the sale, the executive vice president now directly owns 1 shares in the company, valued at approximately $62.93. This trade represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.47% of the company’s stock.

Evergy Stock Up 1.5 %

Shares of NASDAQ:EVRG opened at $61.43 on Monday. The company’s fifty day moving average is $62.24 and its 200-day moving average is $59.04. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.32 and a current ratio of 0.55. Evergy, Inc. has a 52 week low of $48.04 and a 52 week high of $65.47. The company has a market capitalization of $14.13 billion, a PE ratio of 16.60, a P/E/G ratio of 2.77 and a beta of 0.64.

Evergy (NASDAQ:EVRG) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $2.35 billion. Evergy had a net margin of 14.77% and a return on equity of 8.77%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.88 earnings per share. Equities research analysts predict that Evergy, Inc. will post 3.85 earnings per share for the current fiscal year.

Evergy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Thursday, November 21st were issued a dividend of $0.6675 per share. This represents a $2.67 dividend on an annualized basis and a yield of 4.35%. This is a boost from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Thursday, November 21st. Evergy’s dividend payout ratio (DPR) is currently 72.16%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EVRG. UBS Group upgraded shares of Evergy to a “hold” rating in a research report on Wednesday, September 18th. Jefferies Financial Group assumed coverage on Evergy in a research report on Thursday, September 19th. They set a “buy” rating and a $70.00 target price on the stock. Barclays reduced their price objective on Evergy from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, October 21st. Wells Fargo & Company boosted their price objective on Evergy from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Mizuho started coverage on Evergy in a research report on Tuesday, October 29th. They issued an “outperform” rating and a $67.00 target price for the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Evergy has a consensus rating of “Moderate Buy” and a consensus price target of $61.88.

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.