Bank of Nova Scotia Buys Shares of 41,318 Evergy Inc. $EVRG

Bank of Nova Scotia purchased a new stake in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 41,318 shares of the company's stock, valued at approximately $3,569,000.

Several other large investors also recently modified their holdings of EVRG. Kestra Advisory Services LLC boosted its position in Evergy by 0.8% in the first quarter. Kestra Advisory Services LLC now owns 15,829 shares of the company's stock worth $1,297,000 after purchasing an additional 124 shares during the last quarter. Trilogy Capital Inc. increased its holdings in Evergy by 0.3% in the 2nd quarter. Trilogy Capital Inc. now owns 47,210 shares of the company's stock worth $4,080,000 after acquiring an additional 125 shares in the last quarter. Retirement Planning Group LLC raised its position in shares of Evergy by 0.6% during the 1st quarter. Retirement Planning Group LLC now owns 23,659 shares of the company's stock valued at $1,938,000 after purchasing an additional 137 shares during the period. Earned Wealth Advisors LLC raised its position in shares of Evergy by 4.9% during the 1st quarter. Earned Wealth Advisors LLC now owns 2,946 shares of the company's stock valued at $241,000 after purchasing an additional 137 shares during the period. Finally, Optiver Holding B.V. lifted its stake in shares of Evergy by 14.5% during the 1st quarter. Optiver Holding B.V. now owns 1,107 shares of the company's stock valued at $91,000 after buying an additional 140 shares in the last quarter. Institutional investors own 87.24% of the company's stock.

Evergy Trading Up 0.0%

EVRG stock opened at $81.41 on Wednesday. Evergy Inc. has a twelve month low of $70.42 and a twelve month high of $88.62. The stock has a market capitalization of $18.77 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 2.11 and a beta of 0.54. The company has a quick ratio of 0.21, a current ratio of 0.36 and a debt-to-equity ratio of 1.20. The firm's fifty day simple moving average is $84.68 and its two-hundred day simple moving average is $82.92.

Evergy (NASDAQ:EVRG - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.07. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.36 billion. Evergy had a net margin of 15.19% and a return on equity of 9.20%. During the same quarter last year, the business earned $0.82 EPS. As a group, analysts anticipate that Evergy Inc. will post 4.25 earnings per share for the current year.

Evergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, August 18th will be issued a $0.695 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. Evergy's payout ratio is presently 70.56%.

Insider Activity at Evergy

In other Evergy news, EVP Charles A. Caisley sold 10,787 shares of Evergy stock in a transaction on Monday, June 15th. The stock was sold at an average price of $83.46, for a total transaction of $900,283.02. Following the completion of the sale, the executive vice president directly owned 37,789 shares of the company's stock, valued at $3,153,869.94. The trade was a 22.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sandra Aj Lawrence sold 761 shares of the company's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $83.31, for a total value of $63,398.91. Following the completion of the sale, the director owned 1,680 shares of the company's stock, valued at $139,960.80. This represents a 31.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 12,748 shares of company stock worth $1,061,870. 1.52% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Citigroup upped their price target on Evergy from $95.00 to $97.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Barclays boosted their target price on Evergy from $89.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 30th. BTIG Research set a $97.00 price target on Evergy in a research note on Thursday, July 23rd. UBS Group increased their price objective on shares of Evergy from $88.00 to $91.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Evergy in a research note on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Evergy currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.60.

Evergy Profile

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company's business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.

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