Resona Asset Management Co. Ltd. Increases Stake in Evergy Inc. $EVRG

Resona Asset Management Co. Ltd. lifted its position in Evergy Inc. (NASDAQ:EVRG) by 7.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,974 shares of the company’s stock after purchasing an additional 5,722 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Evergy were worth $5,919,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Moors & Cabot Inc. raised its holdings in shares of Evergy by 9.1% in the second quarter. Moors & Cabot Inc. now owns 10,785 shares of the company’s stock worth $743,000 after buying an additional 904 shares during the period. Huntington National Bank raised its position in shares of Evergy by 4.3% in the 2nd quarter. Huntington National Bank now owns 4,767 shares of the company’s stock worth $329,000 after acquiring an additional 195 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Evergy by 1.0% during the second quarter. State of Michigan Retirement System now owns 70,381 shares of the company’s stock valued at $4,851,000 after buying an additional 700 shares during the last quarter. iA Global Asset Management Inc. lifted its position in Evergy by 57.3% during the second quarter. iA Global Asset Management Inc. now owns 7,370 shares of the company’s stock valued at $508,000 after acquiring an additional 2,685 shares during the last quarter. Finally, Lifeworks Advisors LLC lifted its holdings in shares of Evergy by 122.7% during the 2nd quarter. Lifeworks Advisors LLC now owns 12,023 shares of the company’s stock valued at $829,000 after purchasing an additional 6,624 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Insider Buying and Selling at Evergy

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of Evergy stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $72.33, for a total value of $578,640.00. Following the sale, the senior vice president directly owned 499 shares of the company’s stock, valued at $36,092.67. The trade was a 94.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.42% of the stock is currently owned by company insiders.

Evergy Stock Performance

EVRG opened at $75.59 on Monday. The firm’s fifty day simple moving average is $75.18 and its two-hundred day simple moving average is $71.09. Evergy Inc. has a 52-week low of $59.67 and a 52-week high of $79.32. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 3.56 and a beta of 0.61. The company has a quick ratio of 0.27, a current ratio of 0.50 and a debt-to-equity ratio of 1.24.

Evergy (NASDAQ:EVRG) last released its earnings results on Thursday, November 6th. The company reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Evergy had a return on equity of 8.62% and a net margin of 14.29%.The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.02 EPS. Evergy has set its FY 2025 guidance at 3.920-4.020 EPS. Equities analysts anticipate that Evergy Inc. will post 3.83 earnings per share for the current fiscal year.

Evergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 21st will be issued a dividend of $0.695 per share. The ex-dividend date of this dividend is Friday, November 21st. This is an increase from Evergy’s previous quarterly dividend of $0.67. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.7%. Evergy’s payout ratio is currently 76.16%.

Analyst Upgrades and Downgrades

EVRG has been the subject of a number of research analyst reports. Barclays restated an “outperform” rating on shares of Evergy in a research note on Thursday, October 9th. Royal Bank Of Canada upgraded shares of Evergy to a “moderate buy” rating in a research note on Tuesday, October 28th. Mizuho raised their price target on shares of Evergy from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Evergy from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Jefferies Financial Group increased their target price on shares of Evergy from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $79.61.

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.