KBC Group NV Raises Stock Holdings in Evergy, Inc. (NYSE:EVRG)

KBC Group NV boosted its stake in shares of Evergy, Inc. (NYSE:EVRG) by 74.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,439 shares of the company’s stock after buying an additional 9,164 shares during the quarter. KBC Group NV’s holdings in Evergy were worth $1,329,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fairscale Capital LLC purchased a new position in shares of Evergy during the 2nd quarter worth approximately $27,000. Hexagon Capital Partners LLC raised its holdings in shares of Evergy by 47.1% in the 3rd quarter. Hexagon Capital Partners LLC now owns 531 shares of the company’s stock valued at $33,000 after buying an additional 170 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Evergy in the 2nd quarter valued at $37,000. Hantz Financial Services Inc. acquired a new position in Evergy during the 2nd quarter worth about $41,000. Finally, Sentry Investment Management LLC purchased a new position in Evergy during the 3rd quarter valued at about $51,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Evergy

In other news, SVP Charles A. Caisley sold 9,236 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $59.63, for a total transaction of $550,742.68. Following the transaction, the senior vice president now directly owns 33,425 shares in the company, valued at approximately $1,993,132.75. This trade represents a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kevin E. Bryant sold 48,141 shares of Evergy stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $62.93, for a total transaction of $3,029,513.13. Following the completion of the transaction, the executive vice president now directly owns 1 shares in the company, valued at $62.93. The trade was a 100.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,724 shares of company stock valued at $3,777,059 in the last ninety days. Insiders own 0.47% of the company’s stock.

Evergy Stock Performance

NYSE:EVRG opened at $63.87 on Tuesday. Evergy, Inc. has a 12 month low of $48.04 and a 12 month high of $64.14. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. The firm has a market capitalization of $14.69 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 2.84 and a beta of 0.62. The business’s fifty day moving average price is $61.20 and its 200 day moving average price is $57.63.

Evergy (NYSE:EVRG) last released its quarterly earnings data on Thursday, November 7th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $2.35 billion. Evergy had a return on equity of 8.77% and a net margin of 14.77%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.88 EPS. On average, sell-side analysts anticipate that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, November 21st will be issued a $0.6675 dividend. This is a boost from Evergy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.67 annualized dividend and a dividend yield of 4.18%. Evergy’s dividend payout ratio is presently 72.16%.

Analysts Set New Price Targets

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

Evergy Company 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.