Fmr LLC Buys 1,138,138 Shares of Evergy, Inc. (NYSE:EVRG)

Fmr LLC boosted its stake in shares of Evergy, Inc. (NYSE:EVRG) by 131.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,004,414 shares of the company’s stock after purchasing an additional 1,138,138 shares during the period. Fmr LLC’s holdings in Evergy were worth $124,294,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Qsemble Capital Management LP grew its position in Evergy by 34.0% during the third quarter. Qsemble Capital Management LP now owns 34,702 shares of the company’s stock valued at $2,152,000 after buying an additional 8,811 shares during the period. Bank of Montreal Can boosted its position in Evergy by 29.1% during the third quarter. Bank of Montreal Can now owns 997,832 shares of the company’s stock worth $61,806,000 after purchasing an additional 224,679 shares during the period. Truvestments Capital LLC bought a new position in Evergy during the third quarter worth about $32,000. DRW Securities LLC bought a new position in Evergy during the third quarter worth about $8,713,000. Finally, Independent Advisor Alliance boosted its position in Evergy by 6.3% during the third quarter. Independent Advisor Alliance now owns 24,487 shares of the company’s stock worth $1,518,000 after purchasing an additional 1,444 shares during the period. Institutional investors own 87.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Evergy news, EVP Kevin E. Bryant sold 48,141 shares of Evergy stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 1 shares of the company’s stock, valued at approximately $62.93. This trade represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.

Evergy Trading Up 0.1 %

Shares of EVRG opened at $63.30 on Thursday. The firm’s 50 day simple moving average is $61.89 and its 200 day simple moving average is $58.35. The company has a market capitalization of $14.56 billion, a P/E ratio of 17.11, a P/E/G ratio of 2.83 and a beta of 0.64. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.55 and a quick ratio of 0.32. Evergy, Inc. has a 1-year low of $48.04 and a 1-year high of $65.47.

Evergy (NYSE:EVRG) last announced its earnings results on Thursday, November 7th. The company reported $2.02 earnings per share 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 net margin of 14.77% and a return on equity of 8.77%. Evergy’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm posted $1.88 earnings per share. Sell-side analysts forecast 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 will be paid on Friday, December 20th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.6675 per share. The ex-dividend date is Thursday, November 21st. This is an increase from Evergy’s previous quarterly dividend of $0.64. This represents a $2.67 annualized dividend and a dividend yield of 4.22%. Evergy’s dividend payout ratio (DPR) is 72.16%.

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.