Mitsubishi UFJ Asset Management Co. Ltd. Purchases 26,352 Shares of Evergy Inc. $EVRG

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Evergy Inc. (NASDAQ:EVRG) by 6.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 427,447 shares of the company’s stock after purchasing an additional 26,352 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of Evergy worth $29,464,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of EVRG. Horizon Investments LLC grew its holdings in shares of Evergy by 4.9% during the first quarter. Horizon Investments LLC now owns 3,353 shares of the company’s stock valued at $231,000 after buying an additional 158 shares during the last quarter. Rogco LP raised its holdings in Evergy by 16.4% in the 2nd quarter. Rogco LP now owns 1,120 shares of the company’s stock worth $77,000 after acquiring an additional 158 shares during the last quarter. Triad Wealth Partners LLC lifted its position in Evergy by 3.8% in the 2nd quarter. Triad Wealth Partners LLC now owns 4,389 shares of the company’s stock valued at $303,000 after acquiring an additional 159 shares in the last quarter. GoalVest Advisory LLC boosted its stake in Evergy by 3.2% during the 2nd quarter. GoalVest Advisory LLC now owns 5,259 shares of the company’s stock valued at $363,000 after purchasing an additional 163 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in shares of Evergy by 24.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 849 shares of the company’s stock worth $59,000 after purchasing an additional 167 shares in the last quarter. 87.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EVRG. Citigroup upped their price target on Evergy from $79.00 to $89.00 and gave the company a “buy” rating in a report on Monday. Barclays restated an “outperform” rating on shares of Evergy in a research note on Thursday, October 9th. Wells Fargo & Company raised shares of Evergy to a “hold” rating in a report on Tuesday, October 28th. Wall Street Zen raised shares of Evergy from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Mizuho increased their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $80.72.

Evergy Trading Up 0.5%

Shares of NASDAQ:EVRG opened at $76.99 on Wednesday. The stock’s 50-day simple moving average is $75.40 and its two-hundred day simple moving average is $71.21. The stock has a market capitalization of $17.72 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 3.56 and a beta of 0.61. Evergy Inc. has a 52-week low of $59.67 and a 52-week high of $79.32. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.50.

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

Evergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 21st will be paid a dividend of $0.695 per share. The ex-dividend date is Friday, November 21st. This represents a $2.78 annualized dividend and a dividend yield of 3.6%. This is a boost from Evergy’s previous quarterly dividend of $0.67. Evergy’s dividend payout ratio is 76.16%.

Insider Activity

In other news, SVP Lesley Lissette Elwell sold 8,000 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president directly owned 499 shares in the company, valued at $36,092.67. This represents a 94.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.42% of the stock is currently owned by insiders.

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.